A. The members of the board are subject to title 38, chapter 3, article 8, relating to conflicts of interest, including the penalties prescribed in section 38-510.
B. A member of the board of directors may not have any direct or indirect financial interest in any of the following:
1. Property owned, purchased or constructed by the authority.
2. A contract entered into by the authority.
3. A private corporation or other entity with which the authority contracts.