Section 303 Of Chapter 2. The Public Utilities Commission: Organization From California Public Utilities Code >> Division 1. >> Part 1. >> Chapter 2.
303
. (a) A public utilities commissioner may not hold an official
relation to, nor have a financial interest in, a person or
corporation subject to regulation by the commission. If any
commissioner acquires a financial interest in a corporation or person
subject to regulation by the commission other than voluntarily, his
or her office shall become vacant unless within a reasonable time he
or she divests himself or herself of the interest.
(b) The commission shall adopt an updated Conflict of Interest
Code and Statement of Incompatible Activities, by February 28, 1998,
in a manner consistent with applicable law.