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Session Laws, 1999
Volume 796, Page 1619   View pdf image
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SIMILAR COMMINGLED INVESTMENT VEHICLE THE INDIVIDUAL INVESTMENTS OF
WHICH THE LEGISLATOR DOES NOT CONTROL OR MANAGE.

[(a)] (B) (1) [A personal] AN interest of a member of the General Assembly
conflicts with the public interest if [it] THE LEGISLATOR'S INTEREST tends to impair
the legislator's independence of judgment.

(2) The conflict disqualifies the legislator from [voting upon any
question or attempting to influence any legislation to which it relates]
PARTICIPATING IN ANY LEGISLATIVE ACTION, OR OTHERWISE ATTEMPTING TO
INFLUENCE ANY LEGISLATION, TO WHICH THE CONFLICT RELATES.

[(b)] (C) It is presumed that [personal interest tends to impair a legislator's
independence of judgment] AN INTEREST DISQUALIFIES A LEGISLATOR FROM
PARTICIPATING IN LEGISLATIVE ACTION in any of the following circumstances:

(1) having or acquiring a direct interest[, distinct from that of the
general public,] in an enterprise which would be affected by the legislator's vote on
proposed legislation, UNLESS THE INTEREST IS COMMON TO ALL MEMBERS OF:

(I) A PROFESSION OR OCCUPATION OF WHICH THE LEGISLATOR IS

A MEMBER; OR

(II) THE GENERAL PUBLIC OR A LARGE CLASS OF THE GENERAL

PUBLIC [.];

(2) benefiting financially from a close economic association with a person
whom the legislator knows, or from the facts is presumed to know, has a direct
interest in an enterprise or interest which would be affected by the legislator's [vote
on proposed legislation] PARTICIPATION IN LEGISLATIVE ACTION, differently from
other like enterprises or interests; [or]

(3) benefiting financially from a close economic association with a person
who is lobbying [or who has employed a lobbyist to propose legislation or to influence
legislator's votes] FOR THE PURPOSE OF INFLUENCING LEGISLATIVE ACTION.
["Close economic association" includes and refers to the legislator's employer,
employees, and partners in business and professional enterprises; partnerships,
limited liability partnerships, or limited liability companies in which the legislator
has invested capital or owns any interest; corporations in which the legislator owns
(not including any stock owned directly through a mutual fund, retirement plan, or
other similar commingled investment vehicle the individual investments of which the
legislator does not control or manage) the lesser of 10 percent or more of the
outstanding capital stock or capital stock of any corporation with a cumulative value
of $10,000 or more; and corporations in which the legislator is an officer, director, or
agent.]; OR

[(3)] (4) soliciting, accepting, or agreeing to accept [any gift, loan, or
payment of a significant value] A LOAN, OTHER THAN A LOAN FROM A COMMERCIAL
LENDER IN THE NORMAL COURSE OF BUSINESS,
from a person who would be affected
by or has an interest in an enterprise which would be affected by the legislator's [vote
on proposed legislation] PARTICIPATION IN LEGISLATIVE ACTION.

 

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Session Laws, 1999
Volume 796, Page 1619   View pdf image
 Jump to  
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