Sec. 7. An individual is not prohibited from serving as a member of the board of governors if the member:
(1) has a pecuniary interest in; or
(2) derives a profit from;
a contract or purchase connected with the hospital. However, the member shall disclose the interest or profit in writing to the board of governors and provide a copy to the state board of accounts. The member shall abstain from voting on any matter that affects the interest or profit.