BLAIR LEE III, Acting Governor

3295

6.     (A) "Financial interest" means (a) ownership of
more than three percent (3%) of the invested capital or
capital stock of any entity, (b) ownership of securities or
obligations of any type which are or may become equivalent
to or convertible into ownership of more than three percent
(3%) of the invested capital stock of any entity, or (c)
ownership of any interest or involvement in any relationship
from or as a result of which the owner has, within the past
three years, received, or is presently or in the future
entitled to receive more than one thousand dollars ($1,000)
per year.

(B) THE TERM DOES NOT INCLUDE:

(I)    A VESTED INTEREST IN A SEPARATELY
TRUSTEED PENSION PLAN OR ANNUITY CONTRACT WHICH PAYS OR WILL
PAY DEFINED BENEFITS WHICH DO NOT VARY WITH THE EARNINGS OR
PROFITABILITY OF THE PAYOR; OR

(II)   COMPENSATION FULLY PAID AND RECEIVED
AS A RESULT OF OTHER EMPLOYMENT COMPLETED PRIOR TO THE DATE
OF STATE EMPLOYMENT.

7.     "Direct financial interest" means a financial
interest owned or possessed by an officer or employee, his
spouse, child, parent, brother, or sister.

8.     "Participate", in connection with a transaction
involving the State or a transaction involving an agency,
means to participate as a State officer or employee in any
proceeding, decision, determination, finding, ruling, order,
grant, payment, award, license, contract, transaction,
sanction or approval, or the denial thereof, or failure to
act with respect thereto, personally and substantially
through approval, disapproval, decision, recommendation, the
rendering of advice, investigation, or otherwise.

9.     "Transaction involving the State" or "Transaction
involving the agency" means any proceeding, application,
submission, request for ruling or other determination,
contract, claim, case, or other such particular matter which
the State officer or employee in question believes or has
reason to believe (a) is one to which the State or an agency
thereof is or will be a party, or (b) is one in which the
State or an agency thereof has a direct and substantial
proprietary interest.

10.    "REGULATORY AGENCY" MEANS ANY UNIT OF A PRINCIPAL
DEPARTMENT OR SEPARATE AGENCY OF THE EXECUTIVE BRANCH OF THE
STATE GOVERNMENT WHICH SETS STANDARDS FOR, LICENSES, ISSUES
PERMITS WITH RESPECT THERETO, OR OTHERWISE EXERCISES
REGULATORY CONTROL OVER THE CONDUCT, ACTIVITIES, OR
EMPLOYMENT OF ANY PERSON OR ENTITY.