(a) Hold any other office of profit;

(b) Hold any office or position under any political committee or party;

(c) Hold any pecuniary interest in any business entity conducting operations which if conducted in this state would be subject to the commission’s regulatory jurisdiction; or

(d) Hold any pecuniary interest in, have any contract of employment with, or have any substantial voluntary transactions with any business or activity subject to the commission’s regulatory jurisdiction.

(2) The prohibitions of subsection (1)(c) and (d) of this section apply to the spouse and minor children of each commissioner.

(3) If the Governor determines that any commissioner has done any act prohibited by subsection (1) of this section, or that a commissioner’s spouse or a minor child has done any act prohibited by subsection (2) of this section, the Governor shall remove the commissioner in the manner provided in ORS 756.014 (4).

(4) Subsection (3) of this section does not apply to a commissioner if the commissioner or the commissioner’s spouse or a minor child acquires any pecuniary interest prohibited by subsection (1) or (2) of this section, advises the Governor of such acquisition, and causes divestiture of such interest within the time specified by the Governor.

(5) For purposes of subsection (1) of this section, a business or activity shall not be considered subject to the commission’s regulatory jurisdiction solely because the business or activity is a private carrier as defined by ORS 825.005. [1971 c.655 §4; 1985 c.834 §8; 1987 c.123 §1; 1995 c.306 §41]