Oregon Administrative Rules › Chapter 440 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, DIRECTOR'S OFFICE › Division 15 - CONFLICT OF INTEREST › Section 440-015-0110 - Indebtedness and Financial Interest of Department Employees

Current through Register Vol. 63, No. 7, July 1, 2024
(1) Due to the scope of their authority, and
			 to prevent actual and potential conflicts of interest or the appearance of
			 conflicts of interest, certain employees of the Department holding executive
			 and senior management positions, or positions exercising particular regulatory
			 responsibilities, shall not be or become indebted to, or hold a financial
			 interest in, or engage in business transactions with, entities over which those
			 employees exercise regulatory responsibilities.
(2) Positions subject to section (1) of this
			 rule include, but are not limited to, the Director, the Deputy Director, and
			 the Administrators and Deputy Administrators of the Building Codes Division,
			 Division of Finance and Corporate Securities, Insurance Division, Occupational
			 Safety and Health Division (Oregon OSHA), and Workers' Compensation Division.
			 The Director, or division administrators subject to the Director's approval,
			 may designate additional positions as subject to section (1) of this rule. In
			 determining which positions shall be designated pursuant to this section, the
			 Director or administrator shall consider the scope of the responsibilities
			 assigned to the position and the extent to which employee holding the position
			 could influence the regulation of an entity regulated by the
			 Department.
(3) For each designated
			 position, the Director (or administrator, for positions designated by an
			 administrator) shall identify the specific types of entities in which employees
			 holding the position may not hold financial interests or engaged in business
			 transactions, and to which employees holding the position may not become
			 indebted.
(4) Any employee holding
			 a designated position shall disclose any financial interests, business
			 transactions or indebtedness prohibited by this rule, and shall come into
			 compliance with this rule not later than 30 days following the effective date
			 of this rule. The Director may grant extensions to prevent undue hardship, and
			 may grant exceptions in the event of unusual circumstances (such as
			 inheritance), subject to such conditions as the Director shall
			 determine.
(5) Employees newly
			 hired into a designated position shall disclose any financial interests,
			 business transactions or indebtedness prohibited by this rule, and shall
			 promptly divest themselves of any such interests or indebtedness. The Director
			 may allow such employees a reasonable period to accomplish such divestiture to
			 prevent undue hardship, subject to such conditions as the Director shall
			 determine.
(6) Except as provided
			 in this rule, or in ORS
			 731.228 or any other statutes,
			 rules or policies restricting the indebtedness and interests of employees, and
			 subject to applicable statutes, rules, and policies relating to conflicts of
			 interest and ethics, Department employees may be indebted to or hold a
			 financial interest in an entity regulated by the Department.
Stat. Auth.: ORS
				  705.135
Stats. Implemented: ORS 244,
				  705.135