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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 />