HARRY HUGHES, Governor

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Board and shall be a public record.

Nothing in this section shall preclude a State officer
or employee from participating in (a) a contract with his
agency for the rendering or furnishing of public utility
services or any other service at a published rate
established or authorized by any federal, State, county, or
city regulatory agency where payments under the contract do
not exceed $1,000 and where the services supplied are usual
and necessary for the performance of the official duties of
the State officer or employee, or (b) transactions involving
the State with respect to the deposit of State monies in
bank depositaries where a fixed formula is utilized to
determine the percentage ratio of State monies to be
deposited in any given bank and where the officer or
employee does not participate in the fixing or amending of
the formula.

7. EXCEPT FOR A STATE OFFICER OR EMPLOYEE WHO IS
REQUIRED BY LAW TO BE APPOINTED TO THE BOARD OR COMMISSION
OF A REGULATORY AGENCY AS THE REPRESENTATIVE OF THE BUSINESS
OR PROFESSION REGULATED BY SUCH AGENCY, NO STATE OFFICER OR
EMPLOYEE APPOINTED TO OR EMPLOYED BY A REGULATORY AGENCY
SHALL OWN A FINANCIAL INTEREST IN OR BE A DIRECTOR, TRUSTEE,
OFFICER, OR EMPLOYEE OF ANY ENTITY OR PERSON REGULATED BY
SUCH AGENCY.

THE BOARD OF ETHICS BY WRITTEN ORDER MAY SUSPEND THE
OPERATION OF THIS SECTION, IN WHOLE OR IN PART, AS TO ANY
PARTICULAR STATE OFFICER OR EMPLOYEE OR CLASS THEREOF WITH
RESPECT TO ANY PARTICULAR INTEREST, FINANCIAL OR OTHERWISE,
PROVIDED THAT THE BOARD SHALL MAKE A FINDING IN WRITING THAT
UNDER THE CIRCUMSTANCES SUCH SUSPENSION IS REQUIRED IN THE
PUBLIC INTEREST AND WILL NOT BE DETRIMENTAL TO THE IMPARTIAL
CONDUCT OF THE BUSINESS OF THE STATE.

A FULL STATEMENT OF THE PERTINENT FACTS AND OF THE
BOARD'S DETERMINATION AND REASONS THEREFOR SHALL BE KEPT ON
FILE BY THE BOARD AND SHALL BE A PUBLIC RECORD.

Article IV.
Board of Ethics

A Board of Ethics is hereby established within the
Department of Personnel of the State Government. It shall
consist of nine members. One of the members shall be the
Secretary of Personnel, ex officio. The other eight members
shall be appointed by the Governor from the general public
and shall be persons who are not subject to this Code of
Ethics. The term of each appointed member shall be four
years or until a successor is appointed and takes office.
Any appointed member of the Board shall be eligible for
reappointment. Of the members first appointed, one member