490 R.I. Code R. 490-RICR-00-00-4.12
No member of the applicant's governing body or of the governing body of the locality wherein the applicant is located, and no official or employee of the applicant or the said locality or any other person who exercises any functions or responsibilities in connection with the loan shall own or acquire any personal interest in any property, contract or proposed contract which would conflict with the performance of his/her duties or responsibilities under this loan, except to the extent hereinafter provided. If any such member, official, employee or other person (hereinafter referred to collectively as "person") presently, or in the future, acquires, owns, or controls any such share, benefit, or personal interest, he/she shall disclose immediately such share, benefit, or personal interest to the Water Resources Board and upon such disclosure, such person shall not participate in the program or in any action affecting the preparation of the program unless the applicant and the Water Resources Board shall determine that, in the light of such share, benefit, or personal interest, the participation of such person in any such action would not be contrary to the public interest. The applicant will promptly advise the Water Resources Board of the facts and circumstances concerning any disclosure made to it pursuant hereto or any information obtained by it relating to any conflict of interest.
490 R.I. Code R. 490-RICR-00-00-4.12