KRS § 18A.262 — KY Code / Title III / Chapter 18A / Section 18A.262
18A.262 Conflicts of interest for Kentucky Public Employees Deferred Compensation Authority employees and trustees
Status: in_force

18A.262 Conflicts of interest for Kentucky Public Employees Deferred

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.

(3) (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 (5)

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.