(a) Every member and employee of the authority who knowingly has any direct or indirect interest in any contract to which the authority is or is about to become a party or in any other business of the authority or in any firm or corporation doing business with the authority shall make full disclosure of such interest to the authority. Failure to disclose such an interest shall constitute cause for which an authority member may be removed or an employee discharged or otherwise disciplined, at the discretion of the authority.

(b) Any contract or transaction of the authority involving a conflict of interest not disclosed under subsection (a) of this Code section or involving a violation of any other provision of law applicable to the authority and its members, officers, or employees and regulating conflicts of interest shall be voidable by the authority.