Section 69-05.2-02-05 - Reporting requirements1. Each employee required to file a statement shall report40 , on the form provided by the commission40 , all employment and financial interests of the employee, the employee's spouse, minor children, or other relatives who are full-time residents of the employee's home. 2. All of the following financial interests must be listed: a. Employment. Any continuing financial interests in business entities and nonprofit organizations through a pension or retirement plan, shared income, salary, or other income arrangement as a result of prior or current employment. The employee, the employee's spouse, or other resident relative is not required to report a retirement plan from which the employee will receive a guaranteed income. A guaranteed income is one unlikely to be changed as a result of commission actions. b. Securities. Any financial interest in business entities and nonprofit organizations through ownership of stock, stock options, bonds, securities or other arrangements, including trusts. An employee is not required to report holdings in widely diversified mutual funds, investment clubs, or regulated investment companies not specializing in underground and surface coal mining operations. c. Real property. Ownership, lease, royalty, or other interests or rights in land or minerals. Employees are not required to report lands developed and occupied for a personal residence. d. Creditors. Debts owed to business entities and nonprofit organizations. Employees are not required to report debts owed to financial institutions, such as banks, savings and loan associations, and credit unions, which are chartered to provide commercial or personal credit. Also excluded are charge accounts and similar short-term debts for current and ordinary household and living expenses. 3. Employee certification, and, if applicable, a listing of exceptions: a. The statement will provide for a signed certification by the employee that to the best of the employee's knowledge: (1) None of the listed financial interests represent a prohibited financial interest except as identified and described by the employee as part of the statement; and (2) The information shown on the statement is true, correct and complete. b. An employee is expected to have complete knowledge of personal involvement in business enterprises such as a sole proprietorship and partnership, outside employment and the outside employment of the spouse and other covered relatives, and be aware of the information in the annual financial statement or other corporate or business reports circulated to investors or routinely made available to the public. c. The exceptions shown in the certification must provide enough information for the commission to determine the existence of a direct or indirect financial interest. Accordingly, the exceptions should: (1) List the financial interests. (2) Show the number of shares, estimated value, or annual income of the financial interests. (3) Include any other information which the employee believes should be considered in determining whether the interest is prohibited. d. Employees are cautioned to give serious consideration to their direct and indirect financial interests before signing the statement of certification. Signing the certification without listing known prohibited financial interests may be cause for imposing penalties. N.D. Admin Code 69-05.2-02-05
Effective August 1, 1980; amended effective May 1, 1990.General Authority: NDCC 38-14.1-38
Law Implemented: NDCC 38-14.1-38