18A.262 Conflicts of interest for Kentucky Public Employees Deferred
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/ky/18a-262A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Compensation Authority employees and trustees.
(1)No trustee or employee of the board or authority shall:
(a)Have any interest, direct or indirect, in the gains or profits of any investment
or any other legal, business, or financial transaction made by the board or
authority, except that any such trustee or employee may be a member,
employee, or beneficiary of the plans administered by the board or authority;
(b)Directly or indirectly, for himself or herself or as an agent, use the assets of
the plans administered by the board or authority, except to make current and
necessary payments authorized by the board or authority;
(c)Become an endorser or surety or in any manner an obligor for moneys loaned
by or borrowed from the board or authority;
(d)Have a contract or agreement with the board or authority, individually or
through a business owned by the trustee or the employee;
(e)Use his or her official position with the board or authority to obtain a financial
gain or benefit or advantage for himself or herself or a family member;
(f)Use confidential information acquired during his or her tenure with the board
or authority to further his or her own economic interests or that of another
person; or
(g)Hold outside employment with, or accept compensation from, any person or
business with which he or she has involvement as part of his or her official
position with the board or authority. The provisions of this paragraph shall not
prohibit a trustee from serving as an employee of an agency participating in
the plans.
(2)No trustee or employee of the board or authority, who has served as a trustee or
employee of the board or authority on or after July 1, 2017, shall have any interest,
direct or indirect, in the gains or profits of any investment or any other legal,
business, or financial transaction made by the board or authority for a period of five
(5)years following termination of his or her position, except that any such trustee or
employee may be a member, employee, or beneficiary of the plans administered by
the board or authority.
(a)No person who is serving as a member of the General Assembly or is a public
servant as defined by KRS 11A.010(9) shall have any interest, direct or
indirect, in the gains or profits of any investment or any other legal, business,
or financial transaction made by the board or authority, except that any such
trustee or public servant may be a member, employee, or beneficiary of the
plans administered by the board or authority.
(b)No person who was serving as a member of the General Assembly on or after
July 1, 2017, or was serving as a public servant as defined by KRS
11A.010(9) on or after July 1, 2017, shall have any interest, direct or indirect,
in the gains or profits of any investment or any other legal, business, or
financial transaction made by the board or authority for a period of five
years following termination of his or her position, except that any such member or public servant may be a member, employee, or beneficiary of the plans administered by the board or authority.