<br><br> <br>Page 1 of 1 <br>65.314 Adoption of procurement, personnel, and compensation policies and code of <br>ethics. <br>By August 1, 2010, the governing body of a public entity and the governing body of any <br>affiliated organization of the public entity shall each: <br>(1) Adopt a procurement policy consistent with KRS 45A.345 to 45A.460 that <br>includes, notwithstanding KRS 45A.380(3) and (10), a transparent, competitive, <br>selection process for licensed professional services, bond underwriting and bond <br>counsel services, and financial and insurance products and services; <br>(2) Approve a detailed, equitable personnel and compensation policy; <br>(3) Approve contracts only in accordance with its bylaws and procurement policy; <br>(4) Establish an independent process to receive, analyze, investigate and resolve <br>concerns relating to the public entity and its affiliated organizations, including <br>alleged violations of the code of ethics required by subsection (6) of this section; <br>(5) Conduct training for its members relating to their legal and fiduciary <br>responsibilities; and <br>(6) Adopt a code of ethics that shall include: <br>(a) Standards of conduct for its members and its officers and employees; <br>(b) Requirements for creation and annual filing of financial disclosure statements <br>for its members and its officers and management personnel; and <br>(c) A policy on the employment of: <br>1. <br>Individuals related to its members; and <br>2. <br>Individuals related to its officers and employees. <br>Effective: July 15, 2010 <br>History: Created 2010 Ky. Acts ch. 76, sec. 4, effective July 15, 2010. <br><br>