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II. LOUISVILLE CODE OF ETHICS (LCOE) vs. COLORADO STATUTES - <br />WHICH CONTROLS? <br />LCOE 5 -6(e) provides that to the extent matters addressed in the Louisville Code of <br />Ethics are also addressed in state or federal law, it is the intent of the Code of Ethics <br />that the more restrictive provisions shall control. As a result, in some instances where <br />both the LCOE and C.R.S. address a particular issue, both may need to be considered, <br />to determine which is more restrictive. In other instances, if the conduct is not <br />addressed by the LCOE, but is addressed in C.R.S., then the provisions of C.R.S. will <br />apply. Likewise, if the LCOE addresses conduct that is not addressed by C.R.S., then <br />LCOE applies. <br />III. LOUISVILLE CODE OF ETHICS (LCOE) <br />A. DEFINITIONS (LCOE Section 5 -7) <br />1. "Interest" means a pecuniary, property, or commercial benefit, or any <br />other benefit the primary significance of which is economic gain or the <br />avoidance of economic loss, but does not include: <br />• Matters in which a similar benefit is conferred on all persons or <br />property similarly situated nor does it include ownership or control of <br />shares of stock; or <br />• Beneficial interest in shares of stock the aggregate amount of which <br />constitutes 1% or less of the shares of the entity then outstanding. <br />2. "Interest of the following persons and entities shall be deemed to <br />constitute an interest of the officer, public body member or employee <br />for purposes of Sections 5 -9 and 5 -10:" <br />• Relatives <br />• Business in which the official /employee is an officer, director, <br />employee, partner, principal, member, or owner (other than <br />stockholder) <br />• Business in which the official /employee controls more than 1% of the <br />outstanding shares. <br />• "Any business entity in which the officer (official /employee ?) is an <br />officer, director, employee, partner, principal member or owner (other <br />than stockholder) where the business entity is seeking to advance its <br />financial benefit through an official action of the City, if the officer <br />would be directly or indirectly involved in making the decision." <br />(emphasis added) <br />Page 2 of 26 <br />