Current through Register Vol. XLI, No. 50, December 13, 2024
Section 159-1-5 - Miscellaneous5.1. Fiscal Year. The fiscal year of the Commission shall commence on the 1st day of July and shall end on the 30th day of June the following year.5.2. Books and Records. The records of the Commission shall be open to public inspection at all reasonable times. All final actions of the Commission shall be journalized, and such journal shall also be open to the inspection of the public at all reasonable times, provided, any records or information relating to secret processes or secret methods of manufacture or production which may be obtained by the Commission are confidential and shall not be disclosed.5.3. Contracts. All contracts and obligations of the Commission shall be signed by the Chairman or the Executive Director, or other officers or employees of the Commission authorized to execute contracts or other obligations of the Commission.5.4. Indemnification. The Commission shall, to the fullest extent allowed by law, indemnify and reimburse each present and future member, officer, employee or agent of the Commission against, and each such member, officer, employee or agent shall be entitled without further action on his or her part to indemnity from the Commission for, all expenses, including without limitation attorney fees, judgments, fines, taxes an penalties and interest thereon, and if the Commission determines that a settlement of any action, suit or proceeding is in the best interest of the Commission, all amounts paid in effecting such settlement, other than amounts paid to the Commission itself, reasonably incurred by him or her in connection with or arising out of any action, suit or proceeding in which he or she may be involved by reason of his or her being or having been a member, officer, employee or agent of the Commission; provided, however, that such indemnity shall not include any expenses incurred by any member, officer, employee or agent with respect to matters as to which he or she shall be finally adjudged in any such action, suit or proceeding to have been guilty of or liable for gross negligence, willful misconduct or criminal acts in the performance of his or her duties for the Commission. The forgoing right of indemnification shall inure to the benefit of the heirs, executors or administrators of each such member, officer, employee or agent and shall be in addition to all other rights to which such member, officer, employee or agent may be entitled as a matter of law.5.5. Conflict of Interest. The Commission shall maintain constant vigilance against conflicts of interest, or the mere appearance of conflicts of interest. No officer, member or employee of the Commission shall be financially interested, directly or indirectly, in any contract of any person with the Commission, or in any sale of any property, real or personal, to or from the Commission, provided, that this provision shall not apply to contracts or purchases of property, either real or personal, commodities or services between the Commission and any governmental agency.