12. No member of the Board, under pain of forfeiture of his office, shall have any direct or indirect interest in an undertaking that puts his personal interest in conflict with that of the Board.
Such forfeiture, however, shall not be incurred if such interest devolves to him by succession or gift and he renounces or disposes of it with all possible dispatch.
It shall also not be incurred in the case of a member who receives fees for professional care given in the practice of his functions.