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No member of any board, commission or committee created by Charter, ordinance or resolution shall have any financial interest, direct or indirect or by reason of ownership of stock in any corporation (except as permitted by the laws of Ohio) in any matter pending before the board, commission or committee of which he is a member. In the event that such a conflict arises, the affected member shall abstain from discussion and voting on the issue or matter in which he has such an interest. The affected member shall not be required to resign from the board, commission, or committee of which he is a member. Any willful violation of this section shall constitute malfeasance in office and any member of a board, commission or committee found guilty thereof shall thereby forfeit his office or position.