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REFERENCE TITLE: corporation commissioners; qualifications |
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State of Arizona House of Representatives Fifty-fifth Legislature Second Regular Session 2022
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HB 2536 |
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Introduced by Representative Griffin
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AN ACT
amending section 40-101, Arizona Revised Statutes; relating to the corporation commission.
(TEXT OF BILL BEGINS ON NEXT PAGE)
Be it enacted by the Legislature of the State of Arizona:
Section 1. Section 40-101, Arizona Revised Statutes, is amended to read:
40-101. Interest of commissioner or employee prohibited in corporation subject to regulation; qualifications; affidavit
A. Notwithstanding any other law, a person in the employ of, or holding an official relation to a corporation or person subject to regulation by the commission, or a person owning stocks or bonds of a corporation subject to regulation, or a person who is pecuniarily interested therein, shall not be elected, appointed to, or hold the office of commissioner or be appointed or employed by the commission. If a commissioner, or appointee or employee of the commission becomes the owner of such stocks or bonds, or becomes pecuniarily interested in such a corporation involuntarily, he shall within a reasonable time divest himself of such stocks, bonds or interest. If he fails to do so, he thereby vacates his office or employment.
B. For terms of office beginning in 2025 or later, a commissioner shall be a resident of this state at least two years before election, be at least thirty years of age and have at least five years of experience in one or more of the following areas:
1. Accounting.
2. Business administration.
3. Finance or economics.
4. Administrative law.
5. Professional engineering.
C. Before a person becomes a candidate for the office of commissioner, the person shall sign an affidavit listing and attesting to the person's fulfillment of the qualifications prescribed in this section and shall file the affidavit with the nomination paper prescribed by section 16-311, 16-312 or 16-341. This subsection applies only to a person becoming a candidate for a term of office beginning in 2025 or later.