No Town Councilperson or appointed member of a Board, Commission or Committee of the governmental structure, during his or her term of office shall be an employee of the Town, nor shall he or she have any material or significant financial interest, direct or indirect, or any apparent conflict of interest with the Town. In the event that any such person, or any member of his/her family, has or could potentially be construed as having such interest, said person shall declare such interest. If any such person fails to declare such interest, the remaining members of the body shall determine by a majority vote whether said interest does in fact constitute a conflict of interest. When such conflict of interest is established, the remaining members of the body shall take any action they deem to be in the best interest of the Town. (Amended 4/1/86; 11/2/21)