(a) Definitions. The following words and terms, when used in this division, shall have the following meaning, unless the context clearly indicates otherwise.
  (1) Local public official--a member of the governing body of a charter holder, a member of the governing body of a charter school, or an officer of a charter school.
  (2) Business entity--a sole proprietorship, partnership, firm, corporation, holding company, joint-stock company, receivership, trust, agency, political subdivision, or any other entity recognized by law.
(b) Substantial interest in business entity. For purposes of this chapter, a person has a substantial interest in a business entity if:
  (1) the person owns 10% or more of the voting stock or shares of the business entity or owns either 10% or more or $15,000 or more of the fair market value of the business entity; or
  (2) funds received by the person from the business entity exceed 10% of the person's gross income for the previous year.
(c) Substantial interest in real estate. A person has a substantial interest in real estate if the interest is an equitable or legal ownership with a fair market value of $2,500 or more.
(d) Substantial interest through a relative. A local public official is considered to have a substantial interest under this section if a person related to the official in the third degree by consanguinity or affinity, as determined under Government Code, §§573.021-573.025, and §100.1113 of this title (relating to Relationships By Consanguinity or By Affinity), has a substantial interest under this section.

Source Note: The provisions of this §100.1132 adopted to be effective April 18, 2002, 27 TexReg 3110