Section 12.152 - Conflict of Interest(a) A person is not eligible for appointment as a commissioner or executive director of the commission if:(1) the person serves on the board of directors of a company that supplies fuel, utility-related services, or utility-related products to regulated or unregulated electric or telecommunications utilities; or(2) the person or the person's spouse: (A) is employed by or participates in the management of a business entity or other organization that is regulated by or receives funds from the commission;(B) directly or indirectly owns or controls more than a 10 percent interest in:(i) a business entity or other organization that is regulated by or receives funds from the commission; or(ii) a utility competitor, utility supplier, or other entity affected by a commission decision in a manner other than by the setting of rates for that class of customer;(C) uses or receives a substantial amount of tangible goods, services, or funds from the commission, other than compensation or reimbursement authorized by law for commission membership, attendance, or expenses; or(D) notwithstanding Paragraph (B), has an interest in a mutual fund or retirement fund in which more than 10 percent of the fund's holdings at the time of appointment is in a single utility, utility competitor, or utility supplier in this state and the person does not disclose this information to the governor, senate, commission, or other entity, as appropriate.(b) A person otherwise ineligible because of Subsection (a)(2)(B) may be appointed to the commission and serve as a commissioner or may be employed as executive director if the person: (1) notifies the attorney general and commission that the person is ineligible because of Subsection (a)(2)(B); and(2) divests the person or the person's spouse of the ownership or control: (A) before beginning service or employment; or(B) if the person is already serving or employed, within a reasonable time.Amended by: Acts 2013, 83rd Leg., R.S., Ch. 170 (H.B. 1600), Sec. 1.03, eff. September 1, 2013 Amended by Acts 1999, 76th Leg., ch. 405, Sec. 4, eff. Sept. 1, 1999 Acts 1997, 75th Leg., ch. 166, Sec. 1, eff. Sept. 1, 1997.