68B.4 - SALES OR LEASES BY REGULATORY AGENCY OFFICIALS AND EMPLOYEES.
68B.4 SALES OR LEASES BY REGULATORY AGENCY OFFICIALS
AND EMPLOYEES.
1. An official or employee of any regulatory agency shall not
sell or lease, either directly or indirectly, any goods or services
to individuals, associations, or corporations subject to the
regulatory authority of the agency of which the person is an official
or employee, except when the official or employee has met all of the
following conditions:
a. The consent of the regulatory agency for which the person
is an official or employee is obtained and the person is not the
official or employee with the authority to determine whether agency
consent is to be given under this section.
b. The duties or functions performed by the official or
employee for the regulatory agency are not related to the regulatory
authority of the agency over the individual, association, or
corporation, or the selling or leasing of goods or services by the
official or employee to the individuals, associations, or
corporations does not affect the official's or employee's duties or
functions at the regulatory agency.
c. The selling or leasing of any goods or services by the
official or employee to an individual, association, or corporation
does not include advocacy on behalf of the individual, association,
or corporation to the regulatory agency in which the person is an
official or employee.
d. The selling or leasing of any goods or services by the
official or employee to an individual, association, or corporation
does not cause the official or employee to sell or lease goods or
services to the regulatory agency on behalf of the individual,
association, or corporation.
2. The board shall adopt rules specifying the method by which
employees may obtain agency consent under this section. The board
shall adopt rules specifying the method by which officials may obtain
agency consent under this section, including situations when the
person seeking to make the sale or lease is the executive or
administrative head of the regulatory agency. A regulatory agency
granting consent under this section shall file a copy of the consent
with the board within twenty days of the consent being granted. Section History: Early Form
[C71, 73, 75, 77, 79, 81, § 68B.4] Section History: Recent Form
90 Acts, ch 1209, § 1; 91 Acts, ch 79, §1; 2003 Acts, ch 145,
§286; 2004 Acts, ch 1091, §5; 2005 Acts, ch 76, §3; 2006 Acts, ch
1149, §2
Referred to in § 68B.34