SECTION 330:70-5-5. Conflict of Interest

(a)   Neither OHFA, nor any OHFA contractor, subcontractor or agent for operations under the ACC, nor any other entity or individual with administrative functions or responsibility concerning the Contract Administration Program, may enter into any contract, subcontract, or other arrangement in connection with the Contract Administration Program in which any Covered Individual or Entity has any direct or indirect interest (including the interest of any Immediate Family Member), while such person is a covered individual or entity or during one year thereafter.

(b)   OHFA shall require any Covered Individual Or Entity to disclose his, her or its interest or prospective interest in any contract, subcontract or other arrangement in connection with the Contract Administration Program to OHFA and HUD.

(c)   During the term of the ACC, OHFA shall not own or otherwise possess any direct or indirect interest in any covered unit (including a unit owned or possessed, in whole or in part, by an entity substantially controlled by OHFA), and shall not claim or receive any administrative fee for contract administration of a unit in which OHFA has any such interest.

(d)   Notwithstanding paragraph (c), if OHFA provides or has provided financing for development, repair or improvement of covered units, and holds a mortgage of the real property to secure such financing, the existence of such mortgage or interest shall not be considered a conflict of interest under paragraph (c), (provided that OHFA has not obtained any other ownership interest in the property, by exercise of its remedies as mortgagee or otherwise), and in such case, paragraph (c) shall not bar OHFA from claiming or receiving an administrative fee for contract administration of such covered units.

[Source: Added at 21 Ok Reg 2327, eff 7-12-04]