The provisions of sections 25-8-202 and 401, C.R.S., provide the specific statutory authority for adoption of these regulatory requirements. The commission also adopted the following statement of basis and purpose.
BASIS AND PURPOSE
The commission heard testimony from the Attorney General's Office that, under Colorado Revised Statutes § 24-18-110, it is not mandatory for a commissioner to send written disclosures to the Secretary of State regarding apparent conflicts of interest, but rather that it is optional for individual commissioners. Therefore, the commission revised section 21.17 to reflect that disclosure of an apparent conflict of interest to the Secretary of State is optional.
5 CCR 1002-21.41