ARM 44.10.621. BUSINESS DISCLOSURE

(1) For purposes of form D-1 Business Disclosure Statement, the term "other business interests" means: (a) any interest of 10% or greater, the current fair market value of which is $1000 or more, in any business, firm, corporation, partnership, or other business or professional entity or trust; or (b) a greater than 1% interest, the current fair market value of which is $1000 or more, in any publicly traded company. (2) Not included within the meaning of "other business interests" and therefore not reportable under 2-2-106, MCA, are interests of the following nature: (a) ownership of any personal property held in an individual's name and not held for use or sale in a trade or business or for investment purposes, such as personal vehicles or household furnishings; (b) cash surrender value of any insurance policy or annuity; (c) bank deposits, including checking or savings accounts or certificates of deposit, if they are not held for use in a trade or business; (d) securities issued by any government or political subdivision; or (e) mutual funds. (3) An ownership interest in real property includes a fee, life estate, joint or common tenancy, leasehold, beneficial interest (through a trust), option to purchase, or mineral or royalty interest, if the current fair market value of the interest is $1000 or more. (a) It is not necessary to disclose ownership of a personal residence, but each individual is entitled to exclude only one residence. (b) While valuation of property is not required (it need only be disclosed if its current fair market value exceeds $1000), a description of both the property and the nature of the interest must be included. This may be a general description sufficient to identify the property without recourse to oral testimony. A street address is sufficient unless it is a rural route. The nature of the property must be described; for example, farm, ranch, vacation home, commercial or residential property, raw land held for investment, etc. (4) The form D-1 Business Disclosure Statement is provided by the Commissioner of Political Practices, PO Box 202401, Helena, MT 59620-2401.