Chapter 03. Disclosure by Public Officials, State Officials, and Candidates to Be State Officials
Regulation .01 Applicability.LinkCopy Citation
A.
This chapter applies to an official or a candidate to be a State official who is required to file a financial disclosure statement under General Provisions Article, §§5-601(a) and (e), 5-603, 5-604, or 5-605, Annotated Code of Maryland.
B.
Scope.
(1)
Except as provided in §B(2) of this regulation, this chapter does not apply to an individual who:
(a)
Is a public official solely because of the individual’s service on a State board, commission, or task force; or
(b)
Is required to file a financial disclosure statement under COMAR 19A.03.01.
(2)
This chapter applies to:
(a)
A member of the Parole Commission
(b)
A member of the Maryland-National Capital Park and Planning Commission;
(c)
A member of the Washington Suburban Sanitary Commission;
(d)
A member of the Washington Suburban Transit Commission;
(e)
A member of the Public Service Commission;
(f)
A member of the Workers’ Compensation Commission;
(g)
A member of the Maryland Lottery and Gaming Control Commission;
(h)
A member of the Maryland Automobile Insurance Fund; and
(i)
A public official who is a member of a board or commission and who receives annual compensation that is equal to or exceeds 25 percent of the lowest annual compensation at State grade level 16.
Regulation .02 Disclosure Requirements.LinkCopy Citation
A.
An individual shall file the financial disclosure statement required by General Provisions Article, Title 5, Subtitle 6, Annotated Code of Maryland, on a form or the electronic filing system provided by the Commission.
B.
An individual who files a financial disclosure statement using the electronic filing system of the Commission may disclose the following information in the ranges specified in the electronic filing system:
(1)
For a real property interest:
(a)
If the interest is held jointly with other persons, the percentage of interest held by each owner;
(b)
The consideration paid when the interest was acquired, the fair market value if acquired other than by purchase, or the annual rent if the individual rents the property; and
(c)
If any portion of the interest was transferred in the reporting period, the percentage of interest that was transferred and the amount of consideration received for the interest;
(2)
For an interest in a corporation:
(a)
The number of shares held or the value of the shares;
(b)
If the interest is held jointly with other persons, the percentage of interest held by each owner;
(c)
If an interest was acquired during the reporting period in a manner other than by dividend or dividend reinvestment or over $500 was acquired by dividend or dividend reinvestment, the dollar amount paid or, if acquired in a manner other than by purchase, the fair market value at the time of acquisition; and
(d)
If an interest was transferred during the reporting period, the percentage of interest transferred and the amount of consideration received for the interest;
(3)
For an interest in a noncorporate business entity doing business with the State:
(a)
If the interest is jointly held with other persons, the percentage of interest held by each owner;
(b)
The value of the interest held by the individual;
(c)
If the interest was acquired during the reporting period, the consideration paid or the fair market value if acquired other than by purchase; and
(d)
If an interest was transferred during the reporting period, the percentage of interest transferred and the amount of consideration received for the interest; and
(4)
For a debt owed to an entity doing business with the State:
(a)
The interest rate;
(b)
The amount of the debt at the end of the reporting period; and
(c)
The amount by which the debt increased or decreased during the reporting period.
Chapter annotations
Authority: General Provisions Article, §§5-101, 5-206, 5-601, and 5-602, Annotated Code of Maryland
History: Effective date: August 8, 2011 (38:16 Md. R. 946)
History: Regulation .01A amended effective May 25, 2015 (42:10 Md. R. 685)
History: Regulation .01B amended effective October 15, 2012 (39:20 Md. R. 1309); February 7, 2022 (49:3 Md. R. 138)