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161.460 Conflict of interest.
No trustee or employee of the board of trustees shall:
(1) Have any interest, direct or indirect, in the gain or profits of any investment or
transaction made by the board;
(2) Directly or indirectly for himself or as an agent for another, use any of the
assets of the retirement system in any manner except to make current and
necessary payments authorized by the board;
(3) Become an endorser, surety, or obligor for moneys loaned to or borrowed from
the board;
(4) Have a contract or agreement with the retirement system, individually or
through a business owned by the trustee or the employee;
(5) Use his or her official position with the retirement system to obtain a financial
gain or benefit or advantage for himself or herself or a family member;
(6) Use confidential information acquired during his or her tenure with the
retirement system to further his or her own economic interests or that of
another person; or
(7) Hold outside employment with, or accept compensation from, any person or
business with which he or she has involvement as part of his or her official
position with the retirement system. The provisions of this subsection shall not
prohibit a trustee from serving as an employee of an agency participating in the
Kentucky Teachers' Retirement System.
Effective:April 11, 2012
History: Amended 2012 Ky. Acts ch. 75, sec. 14, effective April 11, 2012. -Repealed and reenacted 1990 Ky. Acts ch. 476, Pt. V, sec. 502, effective July
13, 1990. -- Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942,
from Ky. Stat. sec. 4506b-25.
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