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2016-1273
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Last modified
7/12/2021 11:03:37 AM
Creation date
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2016-1273
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Opinion Item
Opinion Type
Advisory Opinion
Docket Number
2016-1273
Requesting Party
Julius P. Hebert, Jr.
Decision Date
1/20/2017
Caption
Advisory opinion that an elected member of the Terrebonne Parish Council would be prohibited by the Louisiana Code of Governmental Ethics from voting on matters in which South Louisiana Bank or its wholly owned company, South Louisiana Financial Services, LLC, has a substantial economic interest, as a time when the councilman has a collateralized loan obligation with South Louisiana Bank. However, the councilman may participate in discussion and debate concerning matters involving South Louisiana Financial Services, LLC, provided that he discloses his conflict of interest or potential conflict on the record of the Council prior to his participation in the discussion or debate and prior to the vote that is the subject of discussion or debate.
Ethics Subject Matters
Participation
Recusal
Prohibited Sources
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The Board concluded, and instructed me to inform you, that the Code of Governmental <br /> Ethics would prohibit Mr. Guidry from voting on matters in which South Louisiana Bank <br /> or its wholly owned company, South Louisiana Financial Services, LLC, has a substantial <br /> economic interest, at a time when Mr. Guidry has a collateralized loan obligation with <br /> South Louisiana Bank. However, after recusing himself from voting on the matter, Mr. <br /> Guidry may participate in discussion and debate concerning the matter, provided that he <br /> discloses his conflict or potential conflict on the record of the Council prior to his <br /> participation in the discussion or debate and prior to the vote that is the subject of <br /> discussion or debate. If the Council would have voted to contract with Blue Cross/Blue <br /> Shield or with United Healthcare for the Parish's group health insurance coverage, South <br /> Louisiana Financial Services, LLC, a company wholly owned by South Louisiana Bank, <br /> would have been appointed the agent of record and received monetary commissions from <br /> the insurer. Mr. Guidry is a party to an existing contract with South Louisiana Bank by <br /> virtue of his existing collateralized loan obligation. Therefore, Mr. Guidry must recuse <br /> himself from voting on any matter in which South Louisiana Bank or its wholly owned <br /> company, South Louisiana Financial Services, LLC, has a substantial economic interest, <br /> at a time when Mr. Guidry has a collateralized loan obligation with South Louisiana <br /> Bank. Nevertheless, Mr. Guidry may participate in discussion and debate concerning the <br /> matter, provided that he discloses his conflict or potential conflict on the record of the <br /> Council prior to his participation in the discussion or debate and prior to the vote that is <br /> the subject of discussion or debate. <br /> This advisory opinion is based solely on the facts as set forth herein. Changes to the facts <br /> as presented may result in a different application of the provisions of the Code of <br /> Governmental Ethics. The Board issues no opinion as to past conduct or as to laws other <br /> than the Code of Governmental Ethics, the Campaign Finance Disclosure Act, the <br /> Lobbyist Disclosure Act, and conflict of interest provisions in the gaming laws. If you <br /> have any questions, please contact me at (800) 842-6630 or(225) 219-5600. <br /> Sincerely, <br /> LOUISIANA BOARD OF ETHICS <br /> Vivian Haley Willi. . s <br /> For the Board <br />
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