(a) Definition. In this section, "close economic association" means:
(1) a Councilmember's employers, employees, and associates in business or professional enterprises;
(2) partnerships, limited liability partnerships, or limited liability companies in which a Councilmember has invested capital or owns an interest;
(3) corporations in which a Councilmember owns the lesser of 10% or more of the outstanding capital stock or capital stock with an aggregate value of $25,000 or more, not including any stock owned through a mutual fund, exchange-traded fund, retirement plan, or other similar commingled investment vehicle, the individual investments of which the Councilmember does not control or manage;
(4) corporations or other business entities for which a Councilmember is an officer, director, or agent; and
(5) an entity in which the Councilmember is negotiating employment or has arranged prospective employment.
(b) Conflicts generally.
(1) An interest of a County Councilmember conflicts with the public interest if the Councilmember's interest tends to impair the Councilmember's independence of judgment.
(2) The conflict disqualifies the County Councilmember from participating in legislative action or otherwise attempting to influence any legislation to which the conflict relates.
(c) Presumed conflicts of interest. It shall be presumed that an interest disqualifies a County Councilmember from participating in legislative action in any of the following circumstances:
(1) having or acquiring an interest in an enterprise that would be affected by the Councilmember's vote on proposed legislation unless the interest is common to all members of:
(i) a profession or occupation of which the Councilmember is a member; or
(ii) the general public or a large class of the general public;
(2) benefiting financially from a close economic association with a person whom the Councilmember knows has an interest in an enterprise or interest which would be affected by the Councilmember's participation in legislative action, differently from other like enterprises or interests;
(3) benefiting financially from a close economic association with a person who is lobbying or has employed a lobbyist for the purpose of influencing legislative action;
(4) soliciting, accepting, or agreeing to accept a gift, or loan other than a loan from a commercial lender in the normal course of business, from a person who would be affected by or has an interest in an enterprise that would be affected by the Councilmember's participation in legislative action; or
(5) any of the restrictions set forth in § 7-5-101.
(1985 Code, Art. 9, § 5-110) (Bill No. 38-03; Bill No. 80-18)
State Code reference – Similar to General Provisions Article, § 5-512.