Substantial financial interest definition

Substantial financial interest means an interest that

Substantial financial interest means a financial interest in a person that exceeds one-tenth of one percent of the outstanding securities of the person, or, if the interest is in an unincorporated business concern, exceeds one percent of the net worth of the concern; or a financial interest that exceeds five percent of the net worth of the employee and the employee's immediate family. (Ord. 17504 § 1, 2012: Ord. 16758 § 1, 2010: Ord. 16391 § 15, 2009: Ord. 14689 § 3, 2003: Ord. 14199 § 25, 2001: Ord. 12014 § 2, 1995).

Substantial financial interest means a pecuniary or material benefit accruing to a councilmember or other officer or employee of the city, or family member of a councilmember or employee, as a result of a private, business or professional transaction with the city.

Examples of Substantial financial interest in a sentence

• A Substantial financial interest or beneficial interest presents a conflict of interest that is incompatible with the proper discharge of official responsibilities in the public interest if the City Official, employee or Consultant has reason to believe or expect that he/she will obtain, secure or advance such interest by reason of his/her actions in performance or non-performance of his/her official responsibilities.

• Substantial financial interest shall mean any financial interest, direct or indirect, which is more than nominal and which is not common to the interest of other citizens of the Town.

• Substantial financial interest means an interest owned or held by an officer which is:a.

• Substantial financial interest means, for purposes of this Code, holding greater than 1% of the outstanding equity interests of a publicly held company, or greater than 5% of those of a privately held company.

• Substantial financial interest means holding greater than 1% of the outstanding shares of a publicly-held company, or greater than 5% ownership in privately-held enterprises.

More Definitions of Substantial financial interest

Substantial financial interest means an interest that could result in directly or indirectly receiving a substantial pecuniary gain or sustaining a substantial pecuniary loss as a result of ownership or interest in a business entity, or as a result of salary, gratuity or other compensation or remuneration from any person, partnership, organization, or association. The term "substantial financial interest" includes, but is not limited to, an ownership interest of five percent (5%) or more in a business enterprise or an interest in an entity from which dividends of One Thousand Dollars ($1,000.00) or more were derived during the preceding calendar year; and

Substantial financial interest means an interest that could result in directly or indirectly receiving a substantial pecuniary gain or sustaining a substantial pecuniary loss as a result of ownership or interest in a business entity, or as a result of salary, gratuity or other compensation or remuneration from any person, partnership, organization or association. The term

Substantial financial interest means more than five percent ownership of any partnership, trust, business trust, corporation or association.

Substantial financial interest means a financial interest that would result in a pecuniary gain or loss exceeding $5,000 in a single transaction or more than $10,000 in the aggregate in 12 consecutive months.

Substantial financial interest means any gift, gratuity or favor, from a single source within the preceding 12 months aggregated to a total value of the amount specified under the Political Reform Act of 1974 and any amendments to it (presently, Government Code Section 89053, as adjusted).

Substantial financial interest means any financial interest, direct or indirect, which is more than nominal and which is not common to the interest of other citizens of the Town.

Substantial financial interest means any of the following: