Conflict of Interest Guidelines

• Date: 01 September 2017
• DOI: http://doi.org/10.1002/ban.30528
• Published date: 01 September 2017

6 Board & Administrator

DOI 10.1002/ban © 2017 Wiley Periodicals, Inc., A Wiley Company • All rights reserved

Resource

Conict of Interest Guidelines

WHEREAS, it is understood that members of the Board of Trustees are necessary in the operations of the organization

and give of their time to benet the community; and

WHEREAS, Trustees have varied interests and backgrounds, and situations may develop that might be interpreted as

conicts of interest or give the appearance to others of conicts of interest; and

WHEREAS, the By-Laws of the organization do not prohibit transactions with interested Trustees, and

WHEREAS, the service of Trustees should not be rendered impossible solely by reason of a possible conict of interest;

nevertheless, there has to be loyalty and delity to the organization. In governing the affairs of the organization, Trustees

must be accountable to the community in honestly and economically exercising their best care, skill and judgment for the

benet of the organization.

NOW, THEREFORE, BE IT RESOLVED, that the following Guidelines for Members of the Board of Trustees are hereby

adopted:

Each Trustee understands that he or she owes the organization a duty of care and of loyalty.The duty of care means

giving the affairs of the organization the same attention that the Trustee would give to his or her own personal business

matters. The duty of loyalty means the avoidance of conicts of interest or the appearance thereof by the Trustee in any

dealings with the organization. Every Trustee understands his or her obligation to consider carefully the interests of the

organization when his or her own personal interests relate to those of the organization.

Any possible conict of interest on the part of any governing Trustee shall be disclosed to the other members of

the Board and made a matter of record, either through an annual procedures or when the interest becomes a mat-

ter of Board action or concern. Any Trustee, officer or member may be interested directly or indirectly in any contract or

transaction relating to operations conducted by the organization or in any contract or transaction for furnishing of services

or supplies to the organization, provided such contract or transaction be upon terms which in the judgment of the disin-

terested quorum of the Executive Committee are fair to the organization and are authorized at a meeting of the Executive

Committee by the vote of such disinterested quorum in which vote such interested person, if a Trustee, shall not participate.

Any Trustee having a possible conict of interest with any matter shall not vote or use his or her personal inu-

ence on the matter, and he or she shall not be counted in determining the quorum for the meeting at which the

matter is considered, even where permitted by law. The minutes of such meeting shall reect that a disclosure was

made, the abstention from voting, and the quorum situation.

The foregoing requirements shall not be construed as preventing the Trustee from briey stating his or her posi-

tion in the matter, or from answering pertinent questions from other Trustees since his or her knowledge may be of great

assistance.

Each Trustee understands his or her obligation to be informed about matters coming before the Board for discussion

and decision; to participate in such discussions and decisions to the extent practicable; and to respect the condentiality

of such discussions and decisions, including such Trustee's disagreement with same, as appropriate.

Each Trustee understands the duciary nature of his or her position and recognizes that he or she cannot identify

himself or herself as a Trustee when advocating a personal position on an issue of public discussion.

I HAVE READ AND UNDERSTAND THE POLICY "CONFLICT OF INTEREST" AND I AGREE TO BE BOUND BY THE

TERMS THEREOF. ■