Section 1700-06-01-.12 - CONFLICTS OF INTEREST(a) Participation in the Program by any member of the Department, employees of a Qualified Organization or the Program Administrator staff shall be governed by the provisions of T.C.A. § 12-4-101 et seq.(b) No member of the Department, employees of a Qualified Organization or the Program Administrator staff shall be directly interested, as defined in T.C.A. § 12-4-101(a)(1), in any Qualifying Business for which the Qualified Organization is considering a Loan for the duration of his or her tenure.(c) Any member of the Department, employees of a Qualified Organization or the Program Administrator staff who is indirectly interested, as defined in T.C.A. § 12-4-101(b), in any Qualifying Business for which the Qualified Organization is considering a Loan must disclose such interest in writing to the Department and shall refrain from participation in any discussion or activity in connection with such Application for a Loan. This disclosure shall be set forth in the official records held by the Qualified Organization.(d) Any violations of this Rule 1700-6-1-.12 shall be subject to the penalties specified in T.C.A. § 12-4-102.Tenn. Comp. R. & Regs. 1700-06-01-.12
Original rule filed June 30, 2006; effective October 27, 2006.Authority: T.C.A. §§ 65-5-113, 12-4-101, and 12-4-102.