{"data":{"id":"us-ky/krs-61.655","jurisdiction":"us-ky","citation":"KRS 61.655","heading":"Conflict of interest -- Trustees, employees,  members  of General","body":"Assembly,  public servants.\n(1) No trustee or employee of the Kentucky Retirement Systems board shall:\n(a) Have  any interest, direct or indirect, in the gains or profits of any\ninvestment or any other legal, business, or financial transaction made by\nthe board, save insofar as any such trustee or employee may  be a\nmember,  employee, or beneficiary of the retirement system;\n(b) Directly or indirectly, for himself or as an agent, use the assets of the\nretirement system, except to make  current and necessary payments\nauthorized by the board;\n(c) Become  an endorser or surety or in any manner an obligor for moneys\nloaned by or borrowed from 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 one (1) of the systems administered by Kentucky\nRetirement Systems.\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\nsystems administered by Kentucky Retirement Systems.\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 systems administered by Kentucky\nRetirement Systems.\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 systems  administered by  Kentucky  Retirement\nSystems.","path":["KRS Chapter 61"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=48545","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:49:15Z","sha256":"d31ab68009d3d663368d6e273fee3937ea6864cab8c85658ae2a66685e522c97","source_id":"us-ky","stale":false,"prev":"us-ky/krs-61.652","next":"us-ky/krs-61.660"},"notice":"GroundRules: Original legal text. Not legal advice."}