10-3-1306 - Interest in business entity regulated by municipality -- Disclosure statement required. - Utah Statutes

10-3-1306. Interest in business entity regulated by municipality -- Disclosurestatement required.
(1) Every appointed or elected officer or municipal employee who is an officer, director,agent, or employee or the owner of a substantial interest in any business entity which is subject tothe regulation of the municipality in which he is an elected or appointed officer or municipalemployee shall disclose the position held and the nature and value of his interest upon firstbecoming appointed, elected, or employed by the municipality, and again at any time thereafter ifthe elected or appointed officer's or municipal employee's position in the business entity haschanged significantly or if the value of his interest in the entity has increased significantly sincethe last disclosure.
(2) The disclosure shall be made in a sworn statement filed with the mayor. The mayorshall report the substance of all such disclosure statements to the members of the governingbody, or may provide to the members of the governing body copies of the disclosure statementwithin 30 days after the statement is received by him.
(3) This section does not apply to instances where the value of the interest does notexceed $2,000. Life insurance policies and annuities may not be considered in determining thevalue of any such interest.

Amended by Chapter 378, 2010 General Session