1 §1016-B. Disclosure of reportable liabilities
Title 1: GENERAL PROVISIONS
Chapter 25: GOVERNMENTAL ETHICS
Subchapter 2: LEGISLATIVE ETHICS
§1016-B. Disclosure of reportable liabilities
Each Legislator shall include on the statement of income under section 1016-A all reportable liabilities incurred during the Legislator's term of office. [1989, c. 561, §10 (NEW).]
1. Definition. For the purposes of this section, "reportable liability" means any unsecured loan of $3000 or more received from a person not a relative. "Reportable liability" does not include:
A. A credit card liability; [1991, c. 331, §1 (NEW).]
B. An educational loan made or guaranteed by a governmental entity, educational institution or nonprofit organization; or [1991, c. 331, §1 (NEW).]
C. A loan made from a state or federally regulated financial institution for business purposes. [1991, c. 331, §1 (NEW).]
[ 1991, c. 331, §1 (AMD) .]
2. Reporting. A Legislator shall make a supplementary statement to the commission of any reportable liability within 30 days after it is incurred. The report shall identify the creditor in the manner of section 1016-A, subsection 1, paragraph C.
[ 1989, c. 561, §10 (NEW) .]
3. Campaign contributions. Campaign contributions duly recorded as required by law are not required to be reported under this section.
[ 1989, c. 561, §10 (NEW) .]
SECTION HISTORY
1989, c. 561, §10 (NEW). 1991, c. 331, §1 (AMD).