§ 5b - Conflicts of interest
§ 5b. Conflicts of interest
(a) A person in the employ of or holding any official relation to any company subject to the supervision of the board or the agency, or engaged in the management of a company which is subject to the supervision of the board or agency, or owning stock, bonds or other securities in the company, or who is in any manner connected with the operation of a company which is subject to the supervision of the board or agency in this state, shall not be a member or executive secretary of the board or secretary of transportation.
(b) No person holding the office of member, executive secretary of the board or secretary of transportation, either personally or in connection with a partner or agent, may:
(1) render professional service for or against or make or perform any business contract with any company subject to board or agency supervision, relating to the business of the company, except contracts made with them as common carriers or in the regular course of public service; or
(2) directly or indirectly receive from a company subject to board or agency supervision any commission, present or reward. (Added 1985, No. 269 (Adj. Sess.), § 1.)