Tex.
Utils. Code Section 12.152
Conflict of Interest
(a)
A person is not eligible for appointment as a commissioner or executive director of the commission if:(1)
the person serves on the board of directors of a company that supplies fuel, utility-related services, or utility-related products to regulated or unregulated electric or telecommunications utilities; or(2)
the person or the person’s spouse:(A)
is employed by or participates in the management of a business entity or other organization that is regulated by or receives funds from the commission;(B)
directly or indirectly owns or controls more than a 10 percent interest in:(i)
a business entity or other organization that is regulated by or receives funds from the commission; or(ii)
a utility competitor, utility supplier, or other entity affected by a commission decision in a manner other than by the setting of rates for that class of customer;(C)
uses or receives a substantial amount of tangible goods, services, or funds from the commission, other than compensation or reimbursement authorized by law for commission membership, attendance, or expenses; or(D)
notwithstanding Paragraph (B), has an interest in a mutual fund or retirement fund in which more than 10 percent of the fund’s holdings at the time of appointment is in a single utility, utility competitor, or utility supplier in this state and the person does not disclose this information to the governor, senate, commission, or other entity, as appropriate.(b)
A person otherwise ineligible because of Subsection (a)(2)(B) may be appointed to the commission and serve as a commissioner or may be employed as executive director if the person:(1)
notifies the attorney general and commission that the person is ineligible because of Subsection (a)(2)(B); and(2)
divests the person or the person’s spouse of the ownership or control:(A)
before beginning service or employment; or(B)
if the person is already serving or employed, within a reasonable time.
Source:
Section 12.152 — Conflict of Interest, https://statutes.capitol.texas.gov/Docs/UT/htm/UT.12.htm#12.152 (accessed Apr. 29, 2024).
