Meetings
 
Agenda Item
Docket No. 21-847
 
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RE:
Advisory opinion regarding whether Michael Rich is prohibited from serving as the financial advisor on Troy Ingram's retirement account while Mr. Ingram serves as the contract attorney for the St. Tammany Fire Protection District No. 1 and Mr. Rich serves as one of its Commissioners.
Facts:
Michael Rich is a Commissioner on the St. Tammany Fire Protection District No. 1 Board of Commissioners. Troy Ingram is the contract attorney for the District. Mr. Rich is also a certified financial planner and advisor with LPL Financial. Mr. Ingram maintains a retirement account with LPL for which Mr. Rich is the advisor. Mr. Rich charges his clients an annual fee as a percentage of assets under management.

Mr. Rich is responsible for periodically evaluating Mr. Ingram's performance as the District's attorney and for making recommendations concerning his continued employment with the District.


Law:
La. R.S. 42:1111C(2)(d) provides that no public servant and no legal entity in which the public servant exercises control or owns an interest in excess of twenty-five percent, shall receive any thing of economic value for or in consideration of services rendered, or to be rendered, to or for any person during his public service unless such services are: (d) Neither performed for nor compensated by any person or from any officer, director, agent, or employee of such person, if such public servant knows or reasonably should know that such person has or is seeking to obtain contractual or other business or financial relationships with the public servant's agency; conducts operations or activities which are regulated by the public employee's agency; or has substantial economic interests which may be substantially affected by the performance or nonperformance of the public employee's official duty.
Recommendations:
Adopt proposed advisory opinion.
Assigned Attorney: Tracy Barker
 
 
ATTACHMENTS:
Description:
2021-847 - Advisory Opinion Request Michael A. Rich
2021-847- Additional Information
2021-847 Final Draft Opinion