Which of the following statements regarding Section 65 of the Rajasthan Municipal Act 2009 is correct?

1
Any member who acquires any share or interest in a contract or employment with the Municipality shall be disqualified from being a member.
2
Any municipal officer or servant who acquires any share or interest in a contract or employment with the Municipality shall be disqualified from their position.
3
Any member or municipal officer who knowingly acquires any share or interest in a contract or employment with the Municipality may be subject to a fine and disciplinary action.
4
Any member or municipal officer who acquires a share or interest in a contract or employment with the Municipality may be subject to imprisonment and a fine.

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