Neither the commissioner, the deputy commissioner, the municipal land trust officer, nor any employee of the Department of Commerce, Community, and Economic Development, nor any relative of the first degree of such a person, nor any legal entity which is owned or controlled by such a person or relative, may acquire, directly or indirectly, any interest in municipal trust land or any interest in land held by a village corporation which has or had an obligation to convey land to the state in trust under this chapter, with the exception of land required to be reconveyed under ANCSA, sec. 14(c)(1) or (2), or as a part of any general distribution of land to shareholders of a village corporation. This prohibition remains in effect

1. (1) as to municipal trust land, until one year following termination of the person's employment with the department; and
2. (2) as to other land held by the village corporation, until one year following completion of the corporation's conveyance of all required municipal trust land to the state in trust.

(Eff. 9/21/79, Register 71)