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  • SECTION 21
    Monies of the corporation
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  • CHAPTER 173
    Urban development research corporation act 173/68
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  • SECTION 23
    Inconsistent provisions of other laws superseded
    • This entry was published on 2014-09-22
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    SECTION 22

    Permissible relations

    Urban Development Research Corporation Act 173/68 (UDR) CHAPTER 173

    § 22. Permissible relations. (1) Notwithstanding any rule at common
    law or any provision of any general, special or local law, the
    corporation may purchase from, sell to, borrow from, loan to, contract
    with or otherwise deal with any person, corporation, trust, association,
    partnership or other entity which is a member of the corporation and/or
    in which any director of the corporation has a financial interest,
    direct or indirect, provided that such interest is disclosed in the
    minutes of the corporation and provided further that no director having
    such a financial interest may participate in any decision affecting such
    transaction.