2016 Oklahoma Statutes
Title 74E. Ethics Rules
Rule 3.2. Definitions.

As used in Rule 3:

1. “Agency” means any entity of state government created by the Constitution or laws of the State of Oklahoma and supported in whole or in part by state funds or entrusted with the expending of state funds or administering of state property or otherwise exercising the sovereign power of the State of Oklahoma, including but not limited to all such offices, departments, institutions, boards, bureaus, commissions, agencies, authorities and instrumentalities of the State of Oklahoma. “Agency” shall not mean any city, county, rural electric cooperative or tribal housing authority created under the Oklahoma Housing Authorities Act nor any state entity that performs only advisory functions and that cannot independently exercise the sovereign power of the State of Oklahoma;

2. “Candidate” shall mean an individual who has filed a statement of organization for a candidate committee as required by these Rules;

3. “Commission” shall mean the Oklahoma Ethics Commission;

4. “Dependent” shall mean an individual claimed as a dependent on the filer’s federal or state income tax return;

5. “Filer” shall mean an individual required to file a Financial Disclosure Statement as required by these Rules; and

6. “Material financial interest” shall mean:

(a) an interest that could result in directly or indirectly receiving a substantial pecuniary gain or sustaining a substantial pecuniary loss as a result of a filer’s ownership or interest in a business entity, or as a result of a filer’s salary, gratuity or other compensation or remuneration; or

(b) an ownership interest in a private business, including but not limited to, a closely held corporation, limited liability company, Subchapter S corporation or partnership for which the filer or the filer’s spouse or dependents is a director, officer, owner, manager, employee, or agent or any private business, closely held corporation or limited liability company in which the filer or the filer’s spouse or dependent owns or has owned stock, another form of equity interest, stock options, debt instruments, or has received dividends or income worth Five Thousand Dollars ($5,000.00) or more at any point during the preceding calendar year; or

(c) an ownership interest of five percent (5%) or more in a publicly held corporation by a filer or the filer’s spouse; or

(d) an ownership interest in a publicly held corporation from which dividends of Fifty Thousand Dollars ($50,000.00) or more were derived during the preceding calendar year by the filer or the filer’s spouse or dependents; or

(e) an ownership interest in a Subchapter S corporation or partnership from which income of Fifty Thousand Dollars ($50,000.00) or more was derived; or

(f) an interest that arises as a result of the filer’s or the filer’s spouse or dependents’ service as a director, officer, representative, agent or employee of a publicly held corporation during the preceding calendar year.

“Material financial interest” shall not mean (1) an interest in a mutual fund or other community investment vehicle in which the filer or the filer’s spouse or dependents exercises no control over the acquisition or sale of particular holdings, or (2) an interest in a pension plan, 401k, individual retirement account or other retirement investment vehicle that makes diversified investments over which the filer or the filer’s spouse or dependents exercises no control over the acquisition or sale of particular holdings.

Promulgated by Ethics Commission January 10, 2014; effective upon Legislature’s sine die adjournment May 23, 2014; operative January 1, 2015.