CEO 76-138 -- July 26, 1976

DIRECTORS OF PUBLIC EMPLOYEE CREDIT UNIONS

APPLICABILITY OF DISCLOSURE LAW

To: (Name withheld at the person's request.)

Prepared by: Bonnie Johnson

SUMMARY:

A public employee who serves as a director of a public credit union is required to file a Disclosure of Specified Business Interests, CE Form 3, within 45 days of assuming such directorship or within 45 days of becoming a public employee. Fla. Stat. s. 112.313(9)(a)(1975). Public employees who serve as credit union directors are not required to file a Statement of Financial Disclosure (CE Form 1), however, unless they also meet the definition of either a local officer, state officer, or specified employee as set forth in Florida Statute s. 112.3145(1975).

QUESTION:

Are persons who are public employees who also serve on the board of directors for the ____ County Teachers Credit Union required to file Statements of Financial Disclosure, CE Form 1, by virtue of such directorship?

This question is answered in the negative.

The financial disclosure provisions of the Code of Ethics for Public Officers and Employees require that candidates for state or local elective office, local officers, state officers, and specified employees annually file statements of financial interest. Fla. Stat. s. 112.3145(2)(a) and (b)(1975). The definition of "candidate" is contained in s. 112.312(4); that of "local officer" in s. 112.3145(1)(a); "specified employee" in s. 112.3145(1)(b); and "state officer" in s. 112.3145(1)(c). Any public employee who falls within the definition of any one or more of the above categories accordingly is required to file such statement of financial interests, CE Form 1. However, there is no provision stipulating that a public employee must make financial disclosure by virtue of his serving on the board of directors of a credit union.

The standards of conduct provisions of the Code of Ethics do require that certain public officers and employees make a disclosure of specified interests, however. The relevant provision of the law is as follows:

DISCLOSURE OF SPECIFIED INTERESTS. -- If a public officer or employee of an agency is an officer, director, partner, proprietor, associate, or general agent (other than a resident agent solely for service of process) of, or owns a material interest in, any business entity which is granted a privilege to operate in this state, he shall file a statement disclosing such facts no later than 45 days after becoming an officer or employee or after the acquisition of such position or material interest. The statement shall give the name, address, and principal business activity of the business entity and shall state the position held with such business entity or the fact that a material interest is owned and the nature of said interest. [New appointees to public office or new public employees] shall file the statement required herein, if applicable, no later than 30 days after their appointment or after the date their employment begins. [Fla. Stat. s. 112.313(9)(a)(1975).]

The code further defines the phrase "persons or business entities provided a grant or privilege to operate" as follows:

"Persons or business entities provided a grant or privilege to operate" includes state and federally chartered banks, state and federal savings and loan associations, cemetery companies, insurance companies, mortgage companies, credit unions, small loan companies, alcoholic beverage licensees, pari- mutuel wagering companies, utility companies, and entities controlled by the Public Service Commission or granted a franchise to operate by either a city or county government. [Fla. Stat. s. 112.312(13)(1975).]

Accordingly, any employee of the ____ County School System serving as an officer or director of a credit union is required to make a Disclosure of Specified Interests. CE Form 3, a copy of which is enclosed, has been prescribed by this commission for such disclosure. See Rule 34-8, Florida Administrative Code.