§84-14.5 Governor; outside employment and emoluments prohibited. (a) Beginning November 1, 2022, as of the sixty-first calendar day after election or appointment to office, it shall be unlawful for the governor, while holding that office, to maintain any other employment, maintain a controlling interest in a business, or receive any emolument.
(b) Where a governor has a controlling interest in a business, in order to comply with this section, the governor may transfer the interest to a blind trust within sixty-one days of election or appointment.
(c) As used in this section:
"Blind trust" means a trust agreement where neither the trustor nor the beneficiaries have any control or influence over, or knowledge of, the assets in the trust, and which complies with the definition of "qualified blind trust" in the Ethics in Government Act of 1978, 5 U.S.C. App. 4 section 101 et seq., as amended.
"Emolument" means any salary, fee, payment, wage, earning, allowance, stipend, honorarium, or reward; provided that "emolument" does not include the salary or benefits for service as the governor or any pension income; retirement income; social security payment; non-controlling ownership of stocks, mutual funds, or real estate; rental income; or other form of passive income. [L 2020, c 75, §3]
Cross References
County mayors; outside employment and emoluments prohibited, see §78-65.