(a) No member of the board of directors of any applicant corporation or officers of such corporation, or employees of a municipality entering into a contract under the Homeless Housing and Assistance Program, nor any member of their immediate families, may receive financial remuneration directly or indirectly under the contract.

(b) No member of the board of directors of any applicant corporation or officers of any such corporation or employees of a municipality or any member of their immediate families shall benefit financially either directly or indirectly from the corporation's or municipality's participation in the program, unless: such action is necessary for the accomplishment of the project and such relationship has been disclosed to the department.

(c) No member of the following categories of persons may serve as an employee, officer, member of the board of directors or consultant to corporation or organization, or as an employee of a municipality, that is a contractor under this Part, or may receive financial remuneration either directly or indirectly under any such contract, unless such position or relationship has been disclosed to and approved by the department:

(d) The department reserves the right to review all disclosures of position or relationship under this section, to request additional information it deems necessary or appropriate, and to determine whether an individual's position or relationship constitutes a conflict of interest which would prohibit such individual from entering into a contract under this Part.