§ 36-14-18 - Disclosure of regulated business interests.
SECTION 36-14-18
§ 36-14-18 Disclosure of regulatedbusiness interests. – (a) Every person who is required to file a financial statement pursuant to thischapter and who has, acquires, or divests him or herself of ten percent (10%)or greater equity interest or five thousand dollars ($5,000) or greater cashvalue interest in a business entity which is subject to direct regulation,greater than of a de minimus nature, by a state or municipal agency, or whichdoes any business with a state or municipal agency, shall file with thecommission at the times specified by this chapter, an affidavit:
(1) Identifying him or herself and stating the capacity inwhich he or she serves or is about to serve which occasions the filing of theaffidavit;
(2) Identifying the business entity (or each business entity);
(3) Identifying the regulatory agency or agencies;
(4) Stating the nature of his or her interest in the businessentity;
(5) Describing the manner in which the business entity issubject to regulation; and
(6) Stating whether the interest is held, or was acquired ordivested, and if acquired or divested, when.
(b) The nature of an interest in a business entity shall bedescribed in specific language.
(c) Every state or municipal official to which this sectionapplies who holds office on January 1, 1988, and who has any interest requiredto be reported pursuant to this section, shall file the affidavit within ninety(90) days after January 1, 1988.
(d) If a state or municipal official to which this sectionapplies, acquires or divests him or herself of an interest, required to bereported pursuant to this section, he or she shall file the affidavit withinthirty (30) days after the date the interest was acquired or divested.
(e) In the case of appointments made after January 1, 1988, astate or municipal official who has any interest required to be reportedpursuant to this section shall file the affidavit within thirty (30) days afterthe date of his or her appointment or the date he or she qualifies for theoffice.