(1) Restrictions. No elected official of the tribe, including the gaming commission or any other committee or agency of the tribe, shall have a financial interest in or management responsibility for, any management agreement entered into pursuant to IGRA, nor shall such elected official serve on the board of directors or hold (directly or indirectly) 10 percent or more of the issued and outstanding stock of any corporation, or 10 percent or more of the beneficial interest in any partnership, trust, or any corporation or other entity, or in the case of any entity having 35 or less owners, shareholders, partners or beneficiaries, any interest in any such corporation, partnership, trust or other entity, having a financial interest in, or a management responsibility for, such contract, or any other interest in any such entity. [Ord. Gaming Ordinance § 12, 1993.]