N.J.S.A. 18A:64-32 — Board of directors; conflict of interest; expenses

18A:64-32. Board of directors; conflict of interest; expenses No member of the board of directors of an auxiliary organization shall have a financial interest in any contract or other transaction entered into by the board of which he is a member. Any contract or transaction entered into in violation of this section is void. The members of the board of directors shall receive no compensation for their services, but shall be paid their necessary expenses in performing their duties. L.1982, c. 16, s. 7, eff. April 1, 1982.

This is the verbatim text of N.J.S.A. 18A:64-32, retrieved from the New Jersey Legislature's public statute corpus. Statutes are amended periodically — for the most current version, check the external source link above. Kyzer is not a law firm and this page is not legal advice.