12 CSR 40-10.050 - Personal Pecuniary Interest

PURPOSE: The purpose of this rule is to define personal pecuniary interest as that term is used in section 313.275.

(1) The Missouri State Lottery Commission interprets the term personal pecuniary interest as that term is used in section 313.275 to mean-

(A) Pecuniary interest means-

1. An ownership interest in the corporation, association or firm referred to in section 313.275; and

2. The ownership interest must exceed five percent (5%) of the total ownership; and

(B) A personal interest shall mean the exercise of any business or management decision, including the signing of a proxy voting requests by the individual involved. The term shall not include blind trusts or other arrangements in which trustees or other individuals execute management decisions without consultation with the individual and the individual owns only a beneficial interest.

Notes

12 CSR 40-10.050

AUTHORITY: section 313.220, RSMo 1986.* Original rule filed May 5, 1986, effective May 15, 1986.

AUTHORITY: section 313.220, RSMo 1986.* Original rule filed May 5, 1986, effective May 15, 1986.