View source for Conflict of Interest Policy

The Augustan Society, Inc., has established the following policy on '''Conflict of Interest''' to provide guidance and process to avoid such:

The following Policy is adopted and shall be applicable to all [[Officers]] and [[Directors]] of the Society upon its adoption.

Whenever a Director or Officer has a financial or personal interest in any matter coming before the [[Board|Board of Directors]], the Board shall ensure that:

<ol>
<li>The interest of such Officer or Director is fully disclosed to the Board of Directors.</li>

<li>No interested Officer or Director may vote or lobby on the matter or be counted in determining the existence of a quorum at the meeting of the Board of Directors at which such matter is voted upon.</li>

<li>Any transaction in which a Director or Officer has a financial or personal interest shall be duly approved by members of the Board of Directors not so interested or connected as being in the best interests of the organization.</li>

<li>Payments to the interested Officer or Director shall be reasonable and shall not exceed fair market value.</li>

<li>The [[Minutes]] of meetings at which such votes are taken shall record such disclosure, abstention, and rationale for approval.</li>
</ol>


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