65-1-102 - Directors Prohibited activities.
65-1-102. Directors Prohibited activities.
(a) No director shall hold any other public office, under either the government of the United States or the government of this or any other state, nor shall any director, while acting as such, engage in any business or occupation inconsistent with such person's duties as a director. No director shall be eligible to qualify as a candidate for any elected office unless such director resigns from the authority prior to qualifying as a candidate. For the purposes of this section, qualify as a candidate means filing a statement certifying the name and address of a political treasurer pursuant to the provisions of § 2-10-105(e).
(b) No person who owns jointly or severally any bonds, stocks, or other property in any business or entity regulated by the Tennessee regulatory authority, or who is an agent or employee in any way of any such business or entity, or who has any interest personally in any way or manner in any such business or entity, shall be eligible to serve as a director of the Tennessee regulatory authority.
(c) (1) No director shall raise funds or solicit contributions for any political candidate or political party, or, except as provided in subdivision (c)(2), actively campaign for any candidate for public office.
(2) (A) A director shall be permitted to actively campaign for an immediate family member as that phrase is defined in § 8-50-502(8).
(B) The mere attendance of a director at a political event or politically oriented event shall not constitute a violation of subdivision (c)(1).
(C) A director's alleged violation of this subsection (c) shall be treated in the same manner as if such commissioner were a judge covered by Rule 10 of the Rules of the Supreme Court.
(d) No director shall enter into an employment relationship, a consulting or representation agreement, or other similar contract or agreement with either an entity regulated by the authority or a subcontractor of such an entity for a period of one (1) year after the director ceases to serve as a director of the authority.
[Acts 1995, ch. 305, § 5; 1996, ch. 636, § 1; 2001, ch. 450, § 1; T.C.A. § 65-1-202.]