40-101. Interest of commissioner or employee
prohibited in corporation subject to regulation
A person in the employ of, or holding an official relation to a corporation or
person subject to regulation by the commission, or a person owning stocks or bonds of a
corporation subject to regulation, or a person who is pecuniarily interested therein,
shall not be elected, appointed to, or hold the office of commissioner or be appointed or
employed by the commission. If a commissioner, or appointee or employee of the
commission becomes the owner of such stocks or bonds, or becomes pecuniarily interested
in such a corporation involuntarily, he shall within a reasonable time divest himself of
such stocks, bonds or interest. If he fails to do so, he thereby vacates his office or
employment.
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