N.Y. Not-For-Profit Corp. Law § 1614

§ 1614. Conflicts of interest.\n No member of the board or employee of a land bank shall acquire any\ninterest, direct or indirect, in real property of the land bank, in any\nreal property to be acquired by the land bank, or in any real property\nto be acquired from the land bank. No member of the board or employee of\na land bank shall have any interest, direct or indirect, in any contract\nor proposed contract for materials or services to be furnished or used\nby a land bank. The board may adopt supplemental rules and regulations\naddressing potential conflicts of interest and ethical guidelines for\nmembers of the board and land bank employees.\n