288.9619 Conflicts of interest.—If any director has a direct or indirect interest associated with any party to an application on which the corporation has taken or will take action in exercising its power for the issuance of revenue bonds or other evidences of indebtedness, such interest must be publicly disclosed to the corporation and set forth in the minutes of the corporation. The director who has such interest may not participate in any action by the corporation with respect to such party and application.