§ 5-6-302 — Function of council - conflict of interest

(1) The council shall
advise and consult with the administrator concerning the exercise of the
administrator's powers under this code and may make recommendations to the
administrator. Members of the council may assist the administrator in obtaining
compliance with this code. Since it is an objective of this part 3 to obtain competent
representatives of creditors and the public to serve on the council and to assist and
cooperate with the administrator in achieving the objectives of this code, service on
the council shall not in itself constitute a conflict of interest regardless of the
occupations or associations of the members.

(2) (a) There is hereby created a subcommittee of the council of advisors on
consumer credit for the purpose specified in paragraph (b) of this subsection (2).
The subcommittee shall consist of the attorney general, the chairperson of the
council, and three members of the council appointed by such chairperson. Of the
subcommittee members who are also members of the council, two shall be
representatives of the consumer credit industry and two shall be representatives of
the public. Any action taken by a majority of the subcommittee shall constitute
action by the council.

(b) The subcommittee may review, repeal, amend, or modify any rule
promulgated by the administrator pursuant to section 5-6-104 (1)(e).

Legislative History

Source: L. 2000: Entire article R&RE, p. 1254, � 1, effective July 1.