44.10.621 BUSINESS DISCLOSURE
(1) For purposes of this rule, "individual" means elected officials, candidates for statewide or state district offices (excluding judiciary) ; department directors, or anyone appointed to fill any of these offices.
(2) For purposes of 2-2-106, MCA, the term "business interest" means any interest in any business, firm, corporation, partnership, or other business or professional entity or trust owned by an individual, the current fair market value of which is $1000 or more. Ownership of any security, equity, or evidence of indebtedness in any business corporation or other entity is a "business interest."
(3) Not included within the meaning of "business interest" and therefore not reportable under 2-2-106, MCA, are interests of the following nature:
(a) ownership of any personal property held in an individual's name and not held for use or sale in a trade or business or for investment purposes, such as personal vehicles or household furnishings;
(b) cash surrender value of any insurance policy or annuity;
(c) bank deposits, including checking or savings accounts or certificates of deposit, if they are not held for use in a trade or business;
(d) securities issued by any government or political subdivision.
(4) An ownership interest in real property includes a fee, life estate, joint or common tenancy, leasehold, beneficial interest (through a trust) , option to purchase, or mineral or royalty interest, if the current fair market value of the interest is $1000 or more.
(a) It is not necessary to disclose ownership of a personal residence, but each individual is entitled to exclude only one residence.
(b) While valuation of property is not required (it need only be disclosed if its current fair market value exceeds $1000) , a description of both the property and the nature of the interest must be included. This may be a general description sufficient to identify the property without recourse to oral testimony. A street address is sufficient unless it is a rural route. The nature of the property must be described; for example, farm, ranch, vacation home, commercial or residential property, raw land held for investment, etc.
(5) Any individual described in (1) of this rule, is required to file a business disclosure form according to the filing schedules prescribed in 2-2-106, MCA. Business disclosure forms are provided by the Commissioner of Political Practices, PO Box 202401, Helena, MT 59620-2401.
History: Sec. 5-7-111, MCA; IMP, Sec. 5-7-102(12), MCA; NEW, 1982 MAR p. 1208, Eff. 6/18/82; AMD, 1986 MAR p. 128, Eff. 1/31/86; TRANS & AMD, 1996 MAR p. 2195, Eff. 8/9/96.