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Texas Utilities Code - Section 12.154. Prohibited Activities

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§ 12.154. PROHIBITED ACTIVITIES.  (a) During the period 
of service with the commission, a commissioner or commission 
employee may not:
		(1)  have a pecuniary interest, including an interest 
as an officer, director, partner, owner, employee, attorney, or 
consultant, in:
			(A)  a public utility or affiliate;  or                                      
			(B)  a person a significant portion of whose 
business consists of furnishing goods or services to public 
utilities or affiliates;
		(2)  directly or indirectly own or control securities 
in a public utility, affiliate, or direct competitor of a public 
utility;  or
		(3)  accept a gift, gratuity, or entertainment from:                          
			(A)  a public utility, affiliate, or direct 
competitor of a public utility;
			(B)  a person a significant portion of whose 
business consists of furnishing goods or services to public 
utilities, affiliates, or direct competitors of public utilities;  
or
			(C)  an agent, representative, attorney, 
employee, officer, owner, director, or partner of a person 
described by Paragraph (A) or (B).
	(b)  A commissioner or a commission employee may not directly 
or indirectly solicit, request from, or suggest or recommend to a 
public utility or an agent, representative, attorney, employee, 
officer, owner, director, or partner of a public utility the 
appointment to a position or the employment of a person by the 
public utility or affiliate.
	(c)  A person may not give or offer to give a gift, gratuity, 
employment, or entertainment to a commissioner or commission 
employee if that person is:
		(1)  a public utility, affiliate, or direct competitor 
of a public utility; 
		(2)  a person who furnishes goods or services to a 
public utility, affiliate, or direct competitor of a public 
utility;  or
		(3)  an agent, representative, attorney, employee, 
officer, owner, director, or partner of a person described by 
Subdivision (1) or (2).
	(d)  A public utility, affiliate, or direct competitor of a 
public utility or a person furnishing goods or services to a public 
utility, affiliate, or direct competitor of a public utility may 
not aid, abet, or participate with a commissioner, commission 
employee, or former commission employee in conduct that violates 
Subsection (a)(3) or (c).
	(e)  Subsection (a)(1) does not apply to an interest in a 
nonprofit group or association, other than a trade association, 
that is solely supported by gratuitous contributions of money, 
property, or services.
	(f)  It is not a violation of this section if a commissioner 
or commission employee, on becoming the owner of stocks, bonds, or 
another pecuniary interest in a public utility, affiliate, or 
direct competitor of a public utility otherwise than voluntarily, 
informs the commission and the attorney general of the ownership 
and divests the ownership or interest within a reasonable time.
	(g)  It is not a violation of this section if a pecuniary 
interest is held indirectly by ownership of an interest in a 
retirement system, institution, or fund that in the normal course 
of business invests in diverse securities independently of the 
control of the commissioner or commission employee.
	(h)  This section does not apply to a contract for a public 
utility product or service or equipment for use of a public utility 
product when a commissioner or commission employee is acting as a 
consumer.
	(i)  In this section, a "pecuniary interest" includes 
income, compensation, and payment of any kind, in addition to an 
ownership interest.

Acts 1997, 75th Leg., ch. 166, § 1, eff. Sept. 1, 1997.                    

Last modified: August 10, 2007