2.15 Board of Directors Conflict of Interest

• Jurisdiction: Arizona

§ 2.15 Board of Directors Conflict of Interest

A.R.S. § 33-1811 requires a board member to “declare” a conflict of interest if a contract, decision or other action “for compensation” would benefit a member of the board, or a board member’s family. The declaration of conflict of interest must be in an open board meeting and the declaration of conflict of interest must be made before the vote is taken on that issue. Once the conflict of interest is declared, the board member with the conflict of interest...