N.Y. Transp. Law § 47

§ 47. Disqualification of members and employees. No member or employee\nof the Utica transit authority should have any interest, financial or\notherwise, direct or indirect, or engage in any business or transaction\nor professional activity or incur any obligation of any nature, which is\nin substantial conflict with the proper discharge of his duties, in the\npublic interest. If any member or employee of the Utica transit\nauthority owns or controls an interest, financial or otherwise, direct\nor indirect, in any property included in any project, which was acquired\nprior to his appointment or employment, he shall disclose such interest\nand the date of acquisition thereof in writing to the Utica transit\nauthority prior to such appointment and such disclosure shall be entered\nupon the minutes of the Utica transit authority.\n