La. Admin. Code tit. 43 § XV-513

Current through Register Vol. 50, No. 11, November 20, 2024

Section XV-513 - What to Report

A. Each employee shall report all information required on the statement of employment and financial interests of the employee, his or her spouse, minor children, or other relatives who are fulltime residents of the employee's home. The report shall be on forms as provided by the office. The statement consists of three major parts:

1. a listing of all financial interests, including employment, security, real property, creditor and other financial interests held during the course of the preceding year;

2. a certification that none of the listed financial interests represent a direct or indirect financial interest in any surface coal mining operation or underground mining operation except as specifically identified and described by the employee as part of the certificate; and

3. a certification by the reviewer that the form was reviewed, that prohibited interests have been resolved, and that no other prohibited interests have been identified from the statement.

B. Listing of All Financial Interests. The statement will set forth the following information regarding any financial interest.

1. 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, his or her spouse or other resident relative is not required to report a retirement plan from which he or she will receive a guaranteed income. A guaranteed income is one which is unlikely to be changed as a result of actions taken by the office.

2. 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, investments clubs or regulated investment companies not specializing in surface coal mining operations.

3. 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.

4. Creditors. Debts owed to business entities and nonprofit organizations. Employees are not required to report debts owed to financial institutions (banks, savings and loan associations, credit unions and the like) 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.

C. Employee Certification and, if Applicable, a Listing of Exceptions

1. The statement will provide for a signed certification by the employee that, to the best of his or her knowledge: none of the listed financial interests represent an interest in an underground or surface coal mining operation except as specifically identified and described as exceptions by the employee as part of the certificate; and the information shown on the statement is true, correct and complete.

2. An employee is expected to: have complete knowledge of his or her personal involvement in business enterprises such as a sole proprietorship or partnership, his or her outside employment and the outside employment of the spouse and other covered relatives; and be aware of the information contained in the annual financial statement or other corporate or business reports routinely circulated to investors or routinely made available to the public.

3. The exceptions shown in the employee certification of the form must provide enough information for the commissioner to determine the existence of a direct or indirect financial interest. Accordingly, the exceptions should: list the financial interests; show the number of shares, estimated value or annual income of the financial interests; and include any other information which the employee believes should be considered in determining whether or not the interest represents a prohibited interest.

4. 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 the penalties prescribed in §505 A

La. Admin. Code tit. 43, § XV-513

Promulgated by the Department of Natural Resources, Office of Conservation, LR 5:395 (December 1979), amended LR 6:177 (May 1980), LR 14:441 (July 1988), LR 20:447 (April 1994).

AUTHORITY NOTE: Promulgated in accordance with R.S. 30:901-932.