Section 6Part 0 —
Pecuniary interest of members to be disclosed
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If a member has a pecuniary interest, direct or indirect, in any contract or other matter and is present at a meeting of the Board at which the contract or other matter is the subject of consideration, he shall at the meeting, as soon as practicable after the commencement thereof, disclose the fact, which shall be recorded in the minutes of the meeting and thereupon such member may take part in the consideration or discussion of the contract or other matter, but shall not vote or otherwise take part in the decision thereon of the Board