1. (1) An employee of the board may not acquire any financial interest in a firm providing services to the board while the employee remains employed by the board.

2. (2) If an employee, at the time the employee is hired, owns directly or indirectly, a financial interest in a firm providing services to the board, the employee shall within 6 months:

   1. (a) Sell such financial interest which sale may be on an installment basis, or
   2. (b) Place such interest in a trust where the trustee is a disinterested person and has full power to sell or retain such interest and the employee has only the right to receive income or the proceeds of any sale, or
   3. (c) Provided where under par. (a) or (b) a sale or trust would in the sole opinion of the board work a hardship on the employee or the employee’s family, the board may yearly grant, upon written application, a waiver effective for the following year.
3. (3) This section does not prohibit holding or acquisition of a financial interest in a firm providing services to the board if the net income to the firm from providing services to the board is less than 10% of the annual net income of the firm.

History

History: Cr. Register, August, 1983, No. 332, eff. 9-1-83; am. (3), Register, May, 1998, No. 509, eff. 6-1-98.