Oklahoma Administrative Code
Title 460 - Department of Mines
Chapter 20 - The Permanent Regulations Governing the Coal Reclamation Act of 1979
Subchapter 5 - Financial Interests of State Employees
Section 460:20-5-10 - What to report
Universal Citation: OK Admin Code 460:20-5-10
Current through Vol. 42, No. 1, September 16, 2024
(a) Each employee, advisory board member or commissioner shall report all information required on the statement of employment and financial interests of the employee, advisory board member or commissioner, his or her spouse, minor children, or other relatives who are full-time residents of the employee's, advisory board member's or commissioner's home. The report shall be on OSM Form 705-1 as provided by the Office of Surface Mining. The statement shall consist 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 an underground or surface coal mining operation except as
specifically identified and described by the employee, advisory board member or
commissioner as part of the certificate; and
(3) A certification by the reviewer that the
form was reviewed, that the 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, advisory board member
or commissioner, 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 Department.
(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, advisory board member or commissioner is not required to
report holdings in widely diversified mutual funds, investment clubs or
regulated investment companies not specializing in underground and surface coal
mining operations.
(3)
Real
property. Ownership, lease, royalty or other interests or rights in
lands or minerals. Employees, advisory board members or commissioners are not
required to report lands developed and occupied for a personal
residence.
(4)
Creditors. Debts owed to business entities and nonprofit
organizations. Employees, advisory board members or commissioners 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) Statement certification, and, if applicable, a listing of exceptions.
(1) The statement will
provide for a signed certification by the employee, advisory board member or
Commissioner that to the best of his or her knowledge:
(A) 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,
advisory board member or commissioner as part ofthe certificate, and
(B) The information shown on the statement is
true, correct, and complete.
(2) An employee, advisory board member or
commissioner is expected to:
(A) Have complete
knowledge of his or her personal involvement in business enterprises such as a
sole proprietorship and partnership, his or her outside employment, and the
outside employment of the spouse and other covered relatives, and
(B) 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 portion of the form must provide enough information for
the Director of the Department or the Governor's Office, Director of
Appointment, for Commission members, to determine the existence of a direct and
indirect financial interest. Accordingly, the exceptions should:
(A) List the financial interests;
(B) Show the number of shares, estimated
value, or annual income of the financial interests; and
(C) Include any other information which the
employee, advisory board member or commissioner 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 Section
460:20-5-6(a).
Amended at 16 Ok Reg 3526, eff 9-13-99; Amended at 18 Ok Reg 3202, eff 7-26-01
Disclaimer: These regulations may not be the most recent version. Oklahoma 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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