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Resolution No. 2024-016
<br /> Page 7 of 15
<br /> or the indebtedness created in the lender's regular course of business on terms
<br /> available to members of the public without regard to the elected officer's official
<br /> status.
<br /> (D) No public official who is exempt from the state civil service system pursuant
<br /> to subdivisions (c), (d), (e), (f), and (g) of Section 4 of Article VII of the
<br /> Constitution shall, while the official holds office, receive a personal loan from any
<br /> person who has a contract with the state or local government agency to which that
<br /> elected officer has been elected or over which that elected officer's agency has
<br /> direction and control. This subdivision shall not apply to loans made by banks or
<br /> other financial institutions or to any indebtedness created as part of a retail
<br /> installment or credit card transaction, if the loan is made or the indebtedness
<br /> created in the lender's regular course of business on terms available to members of
<br /> the public without regard to the elected officer's official status. This subdivision
<br /> shall not apply to loans made to a public official whose duties are solely
<br /> secretarial, clerical, or manual.
<br /> (E) This section shall not apply to the following:
<br /> 1. Loans made to the campaign committee of an elected officer or candidate
<br /> for elective office.
<br /> 2. Loans made by a public official's spouse, child, parent, grandparent,
<br /> grandchild, brother, sister, parent-in-law, brother-in-law, sister-in-law,
<br /> nephew, niece, aunt, uncle, or first cousin, or the spouse of any such persons,
<br /> provided that the person making the loan is not acting as an agent or
<br /> intermediary for any person not otherwise exempted under this section.
<br /> 3. Loans from a person which, in the aggregate, do not exceed $500 at any
<br /> given time.
<br /> 4. Loans made, or offered in writing, before January 1, 1998.
<br /> (8.3) Section 8.3. Loan Terms.
<br /> (A) Except as set forth in subdivision(B), no elected officer of a state or local
<br /> government agency shall, from the date of the officer's election to office through
<br /> the date the officer vacates office, receive a personal loan of$500 or more, except
<br /> when the loan is in writing and clearly states the terms of the loan, including the
<br /> parties to the loan agreement, date of the loan, amount of the loan, term of the
<br /> loan, date or dates when payments shall be due on the loan and the amount of the
<br /> payments, and the rate of interest paid on the loan.
<br /> (B) This section shall not apply to the following types of loans:
<br /> 1. Loans made to the campaign committee of the elected officer.
<br /> 2. Loans made to the elected officer by his or her spouse, child, parent,
<br /> grandparent, grandchild, brother, sister, parent-in-law, brother-in-law, sister-
<br /> in-law, nephew, niece, aunt, uncle, or first cousin, or the spouse of any such
<br /> person, provided that the person making the loan is not acting as an agent or
<br /> intermediary for any person not otherwise exempted under this section.
<br /> 3. Loans made, or offered in writing, before January 1, 1998.
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