February 10, 1998
Mr. Ted Mann
Attorney at Law
380 Knollwood Street, Suite 700
Winston Salem, North Carolina 27103-4152
Re: NC Credit Union Commission
Dear Mr. Mann:
This is to acknowledge your letter regarding the NC Credit Union Commission received on February 10, 1998.
According to our records you are serving as a Public Member and Chairman of the Credit Union Commission. You signed your statement of economic interest (statement) as a public member on the NC Credit Union Commission on June 10, 1996. You signed your supplemental statement of economic interest on January 3, 1997.
The 1996 statement did not indicate that you provided legal services to state chartered credit unions. The 1997 statement indicated that you did not have changes to report.
Upon review of your letter dated February 10, 1998, it appears that you should have included this information in your 1997 supplemental statement. The information could have been listed in Question 12 and possibly Question 7.
It is the opinion of the Board of Ethics that public member means that an appointee cannot have any connection with the Credit Union Commission. The word any includes clients.
As a public member and Chairman of the Commission you cannot avoid, at minimum, giving the appearance that you have a conflict of interest if you have clients who are regulated by the Commission.
Sincerely,
George F. Bason Chairman
cc: Jerrie J. Lattimore
Administrator of Credit Unions