Section 127(2) in The Orissa Municipal Corporation Act, 2003
(2)Any officer of the Corporation appointed, who acquires directly or indirectly any interest as aforesaid shall cease to be such officer of the Corporation.Explanation. - A person shall not be deemed to have any interest in any contract or work as aforesaid by reason only of his having a share or interest in -(a)any lease, sale or purchase of immovable property or any agreement for the same; or(b)any agreement for the loan of money or any security for the payment or money only.
