ARIZONA HOUSE OF REPRESENTATIVES

Fifty-seventh Legislature

First Regular Session

 

☐ Prop 105 (45 votes) ☐ Prop 108 (40 votes) ☐ Emergency (40 votes) ☐ Fiscal Note

HB 2518: employment; prohibitions; corporation commission

Sponsor: Representative Olson, LD 10

Committee on Government

Overview

Adds restrictions on who can be employed by the Arizona Corporation Commission and where former employees of the Commission can work.

History

Individuals related to a corporation regulated by the Arizona Corporation Commission (Commission) including, being an employee, owning stocks or bonds, or having a pecuniary interest are prohibited from being a commissioner or employed by the Commission. If a commissioner or employee of the Commission becomes the owner of stocks or bonds, or becomes pecuniarily interested in such a corporation involuntarily they must divest themselves within a reasonable time. Failure to divest will result in the forced vacation of their office. Commissioners and employees of the Commission are also subject to the same conflict of interest laws that all other public officers and employees of the state and its political subdivisions are required to comply with (A.R.S. §§ 40-101, 40-102). 

Provisions

1.   Prohibits entities regulated by the Commission from employing an individual who served as a commissioner or was employed by the Commission. (Sec. 1)

2.   Prohibits the Commission from employing an individual who was employed in any capacity by an entity regulated by the Commission. (Sec. 1)

 

 

 

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                        HB 2518

Initials JH/MB          Page 0 Government

 

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