NOBCChE Board Resolution Concerning Conflict of Interest
The Board shall not enter into any contract or transaction with (a) one or more of its directors/board member, (b) a director/board member of a related organization, or (c) an organization in or of which a director/board member is a director/board member, officer, owner, legal representative, or in some other way has a material financial interest unless:
- That interest is disclosed or known to the Board of Directors,
- The Board approves, authorizes or ratifies the action in good faith,
- The approval is by a majority of directors (not counting the interested director),
- At a meeting where a quorum is present (not counting the interested director).
The interested director/board member may be present for discussion to answer questions, but may not advocate for the action to be taken and must leave the room while a vote is taken. The minutes of all actions taken on such matters shall clearly reflect that these requirements have been met.
All current NOBCChE Board Members and appropriate support staff members shall sign the statement at the beginning of their service term, as it relates to conflicts of interest.
The undersigned person acknowledges receipt of a copy of this corporate “Resolution Concerning Conflict of Interest.” By my signature affixed below I acknowledge my agreement with the spirit and intent of this resolution and, I agree to report to the Chair of the Board of Directors any possible conflicts (other than those stated below) that may develop before completion of my elected or appointed term.
