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Whether the Ethics Code prohibits the LSU CFO serving as interim Foundation CEO? <br /> The Board also concluded, and instructed me to inform you, that the Code of <br /> Governmental Ethics would not prohibit the LSU CFO from serving as the interim <br /> Foundation CFO, provided that Mr. Layzell's duties and compensation as LSU CFO will <br /> be continued without change and the Foundation will reimburse LSU for the portion of <br /> his salary attributable to time spent on Foundation matters and away from his regular <br /> LSU duties. As such, it would not present a violation of the Ethics Code if Mr. Layzell <br /> serves as interim Foundation CEO, at a time when he is employed as the LSU CFO. <br /> Whether La. R.S. 42:1112B(3) prohibits the LSU VP, who is also the Foundation CEO, <br /> from participating in a transaction involving LSU in which the Foundation has a <br /> substantial economic interest? <br /> La. R.S. 42:1112B(3) prohibits a public servant from participating in a transaction <br /> involving the governmental entity in which, to his actual knowledge, any person of which <br /> he is an officer, director, trustee, partner, or employee has a substantial economic interest. <br /> La. R.S. 42:1102(21) defines "substantial economic interest" to mean an economic <br /> interest which is of greater benefit to the public servant or other person than to a general <br /> class or group of persons. <br /> La. R.S. 42:1102(23) defines "transaction involving the governmental entity" to mean <br /> any proceeding, application, submission, request for a ruling or other determination, <br /> contract, claim, case, or other such particular matter which the public servant or former <br /> public servant of the governmental entity in question knows or should know: (a) is, or <br /> will be, the subject of action by the governmental entity; (b) is one to which the <br /> governmental entity is or will be a party; or, (c) is one in which the governmental entity <br /> has a direct interest. A transaction involving the agency of a governmental entity shall <br /> have the same meaning with respect to the agency. <br /> The Board further concluded, and instructed me to inform you, that, without more <br /> information regarding the transactions he may encounter in his capacity as LSU VP, it is <br /> unable to render an opinion as to this issue. However, La. R.S. 42:1112B(3) generally <br /> would prohibit the LSU VP/Foundation CEO from participating, in his capacity as LSU <br /> VP, in any transaction involving LSU in which the economic interest is of a greater <br /> benefit to the Foundation than to any of the other LSU affiliated foundations. As such, if <br /> a specific situation arises in the future, it is the recommendation of the Board that you <br /> request an advisory opinion at that time. <br /> Finally, the Board instructed me to advise you that La. R.S. 42:1115 would prohibit the <br /> LSU VP from soliciting and/or accepting donations from certain prohibited sources for <br /> his personal benefit as well as for the benefit of his agency or another person. Such <br />