{"data":{"id":"us-ky/krs-161.460","jurisdiction":"us-ky","citation":"KRS 161.460","heading":"Conflict of interest -- Trustees, employees, members  of General","body":"Assembly,  public servants.\n(1) No trustee or employee of the board of trustees shall:\n(a) Have  any interest, direct or indirect, in the gain or profits of any\ninvestment or any other legal, business, or financial transaction made by\nthe board, except that any such trustee or employee may be a member,\nemployee,  or beneficiary of the plans administered by the board or\nauthority;\n(b) Directly or indirectly for himself or as an agent for another, use any of the\nassets of the retirement system in any manner except to make  current\nand necessary payments authorized by the board;\n(c) Become  an endorser, surety, or obligor for moneys loaned to or borrowed\nfrom the board;\n(d) Have  a contract or agreement with the retirement system, individually or\nthrough a business owned by the trustee or the employee;\n(e) Use  his or her official position with the retirement system to obtain a\nfinancial gain or benefit or advantage for himself or herself or a family\nmember;\n(f) Use  confidential information acquired during his or her tenure with the\nretirement system to further his or her own economic interests or that of\nanother person; or\n(g) Hold outside employment with, or accept compensation from, any person\nor business with which he or she has involvement as part of his or her\nofficial position with the retirement system. The  provisions of this\nsubsection shall not prohibit a trustee from serving as an employee of an\nagency participating in the Kentucky Teachers' Retirement System.\n(2) No  trustee or employee of the board of trustees, who has served as a trustee\nor employee of the board on or after July 1, 2017, shall have any interest,\ndirect or indirect, in the gains or profits of any investment or any other legal,\nbusiness, or financial transaction made by the board of trustees for a period of\nfive (5) years following termination of his or her position, except that any such\ntrustee or employee  may  be a member,  employee, or beneficiary of the\nTeachers' Retirement System.\n(3) (a) No  person who is serving as a member  of the General Assembly or is a\npublic servant as defined by KRS  11A.010(9) shall have any interest,\ndirect or indirect, in the gains or profits of any investment or any other\nlegal, business, or financial transaction made  by the board of trustees,\nexcept that any such member  or public servant may  be a member,\nemployee, or beneficiary of the Teachers' Retirement System.\n(b) No  person who was serving as a member  of the General Assembly on or\nafter July 1, 2017, or was serving as a public servant as defined by KRS\n11A.010(9) on or after July 1, 2017, shall have any interest, direct or\nindirect, in the gains or profits of any investment or any other legal,\nbusiness, or financial transaction made  by the board of trustees for a\nperiod of five (5) years following termination of his or her position, except\nthat any such member  or public servant may be a member, employee, or\nbeneficiary of the Teachers' Retirement System.","path":["KRS Chapter 161"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=48547","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:51:10Z","sha256":"651170226f732daf162a61dfc83243163907a85839527dc2c267af8a12d5c416","source_id":"us-ky","stale":false,"prev":"us-ky/krs-161.450","next":"us-ky/krs-161.470"},"notice":"GroundRules: Original legal text. Not legal advice."}