Trustee/Key employee
One of the paramount duties of a member of the Board of Trustees/Key Employee is the duty of loyalty. This duty broadly requires Trustees/Key Employees to be faithful to the University’s best interests.
Each Trustee/Key Employee has a duty to place the interest of the University foremost in any dealings with the University and has a continuing responsibility to comply with the requirements of this policy.
No Trustee/Key Employee shall use his or her position, or the knowledge gained therefrom, in such manner that a conflict between the interest of the University and his or her personal interests arise.
If a Trustee/Key Employee (personally, through a family member or through an ownership interest) has an interest in a proposed transaction with the University in the form of a significant personal financial interest in the transaction, or relationship with any individual or organization involved in the transaction, he or she must make full disclosure of such interest before any discussion or negotiation of such transaction.
Any Trustee/Key Employee who is aware of an actual or potential conflict of interest with respect to any matter coming before the Board shall not be present for any discussion of or vote in connection with the matter.
If a Trustee/Key Employee is uncertain as to whether an actual conflict or potential conflict of interest exists, the Chair of the Board and/or the President of the University should be consulted.
To implement this policy, the Trustees/Key Employees shall complete an annual Conflict-of-Interest Questionnaire. Their statements will be reviewed by the Chair of the Audit Committee and the President of the University, who will attempt to resolve any actual or potential conflicts and, in the absence of resolution, refer the matter to the Board.
In handling any conflict of interest issue the deliberative process shall include an assessment of the intended transaction’s fairness.
Questionnaire: