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City of McKinney City Council <br />Ethics Policy <br />October 21, 2003 <br />Addendum No. 1 <br />CHAPTER 171. Regulation of Conflicts of Interest of Officers <br />Municipalities, Counties, and Certain Other L <br />Governments <br />§ 171.001. <br />In this chapter: <br />(1) "Local public official" means a member of the governin, <br />body or another officer, whether elected, appointed, paid, <br />unpaid, of any district (including a school district), county, <br />municipality, precinct, central appraisal district, transit <br />authority or district, or other local governmental entity wh <br />exercises responsibilities beyond those that are advisory ii <br />nature. <br />r <br />(2) "Business entity" means a sole proprietorship, partners ip, <br />firm, corporation, holding company, joint-stock company, <br />receivership, trust, or any other entity recognized by law. <br />Acts 1987, 70th Leg., ch. 149, § 1, eff. Sept. 1, 1987. <br />§ 171.002. Substantial Interest in Business Entity <br />(a) For purposes of this chapter, a person has a substantia <br />interest in a business entity if: <br />(1) the person owns 10 percent or more of the voting stoc <br />or shares of the business entity or owns either 10 percent <br />more or $1 5,000 or more of the fair market value of the <br />business entity; or <br />(2) funds received by the person from the business entity <br />exceed 10 percent of the person's gross income for the <br />previous year. <br />5 <br />r <br />125 <br />