Missouri Code of State Regulations
Title 12 - DEPARTMENT OF REVENUE
Division 40 - State Lottery
Chapter 10 - General Considerations
Section 12 CSR 40-10.050 - Personal Pecuniary Interest
Universal Citation: 12 MO Code of State Regs 40-10.050
Current through Register Vol. 49, No. 18, September 16, 2024
PURPOSE: The purpose of this rule is to define personal pecuniary interest as that term is used in section 313.275.
(1) The Missouri State Lottery Commission interprets the term personal pecuniary interest as that term is used in section 313.275 to mean-
(A) Pecuniary interest means-
1. An ownership interest in the corporation,
association or firm referred to in section
313.275;
and
2. The ownership interest must
exceed five percent (5%) of the total ownership; and
(B) A personal interest shall mean the
exercise of any business or management decision, including the signing of a
proxy voting requests by the individual involved. The term shall not include
blind trusts or other arrangements in which trustees or other individuals
execute management decisions without consultation with the individual and the
individual owns only a beneficial interest.
*Original authority: 313.220, RSMo 1985, amended 1988, 1993, 1995.
Disclaimer: These regulations may not be the most recent version. Missouri may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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