Conflict of Interest Policy for Directors of the Board

A conflict of interest may exist when the interests or concerns of an interested party may be seen as competing with the interests or concerns of the Association. There are a variety of situations that raise conflict of interest concerns including, but not limited to, the following.

Financial Interests – A conflict may exist when an interested party, or a relative or business associate of an interested party, directly or indirectly benefits or profits as a result of a decision made or transaction entered into by the Association. Examples include situations when:

• The Association contracts to purchase or lease goods, services, or properties from an interested party, or a relative, or business associate of an interested party;

• The Association purchases an ownership interest in or invests in a business entity owned by an interested party, or by a relative or business associate of an interested party;

• The Association offers employment to an interested party, or a relative, or business associate of an interested party, other than a person who is already employed by the Association;
• An interested party, or a relative or business associate of an interested party, is provided with a gift, gratuity or favor, of a substantial nature, from a person or entity which does business, or seeks to do business, with the Association;
• An interested party, or a relative or business associate of an interested party, is gratuitously provided use of the facilities, property, or services of the Association;

Other Interests – A conflict may also exist when an interested party, or a relative or business associate of an interested party, obtains a non-financial benefit or advantage that he would not have obtained absent his/her relationship with the Association, or when his/her duty or responsibility owed to the Association conflicts with a duty or responsibility owed to some other organization. Examples include where:

• An interested party seeks to obtain preferential treatment by the Association for himself, or relative, or business associate;

• An interested party seeks to make use of confidential information obtained from the Association for his own benefit, or for the benefit of a relative, business associate, or other organization;
• An interested party seeks to take advantage of an opportunity, or enable a relative, business associate or other organization to take advantage of an opportunity, which s/he has reason to believe would be of interest to the Association.