Conflict-of-Interest Policy for Regents and Institutional Officers
A regent or University employee shall be considered to have a conflict of interest if (1) he or she has existing or potential financial or other interests that impair or might reasonably appear to impair such member's person’s independent, unbiased judgment in the discharge of his or her responsibilities to the university, or (2) person is aware that a member of his or her family, or any organization in which such regent (or member of his or her family) is an officer, director, employee, member partner, trustee, or controlling stockholder, has such existing or potential financial or other interests.
For the purposes of this provision, a family member is defined as a spouse, parents, siblings, children, and any other relative if the latter resides in the same household as the regent. All such persons shall disclose to the Audit Committee of the Board any possible conflict of interest at the earliest practical time. Furthermore, the regent shall absent himself or herself from discussions of, and abstain from voting on, such matters under consideration by the board of regents or its committees. The minutes of such meetings shall reflect that disclosure was made and that the regent who has a conflict or possible conflict abstained from discussing or voting on the matter. Any regent who is uncertain whether a conflict of interest may exist in any matter may request that the board or committee resolve the question in his or her absence by majority vote. Each regent and Committee member shall annually complete, sign and return annually a disclosure form to be made available by the Internal Auditor.
