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 of Directors, the Board shall ensure that:

1. The interest of such Officer or Director is fully disclosed to the Board of Directors.
2. 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.
3. 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.
4. Payments to the interested Officer or Director shall be reasonable and shall not exceed fair market value.
5. The Minutes of meetings at which such votes are taken shall record such disclosure, abstention, and rationale for approval.

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