67-16-7 - Disclosure of substantial interest in regulated business.
67-16-7. Disclosure of substantial interest in regulated business.
(1) Every public officer or public employee who is an officer, director, agent, employee,or the owner of a substantial interest in any business entity which is subject to the regulation ofthe agency by which the officer or employee is employed, shall disclose any such position heldand the precise nature and value of the public officer's or public employee's interest upon firstbecoming a public officer or public employee, and again whenever the public officer's or publicemployee's position in the business entity changes significantly or if the value of his interest in theentity is significantly increased.
(2) The disclosure required under Subsection (1) shall be made in a sworn statement filedwith:
(a) the state attorney general in the case of public officers and public employees of thestate;
(b) the chief governing body of the political subdivision in the case of public officers andpublic employees of a political subdivision;
(c) the head of the agency with which the public officer or public employee is affiliated;and
(d) in the case of a public employee, with the immediate supervisor of the publicemployee.
(3) This section does not apply to instances where the total value of the interest does notexceed $2,000. Life insurance policies and annuities shall not be considered in determining thevalue of any such interest.
(4) Disclosures made under this section are public information and shall be available forexamination by the public.
Amended by Chapter 147, 1989 General Session