BG. CONFLICT OF INTEREST (BL)

No member of the Board shall engage in an activity, commercial or otherwise, which would compromise the Board member’s ability to perform the duties as a Regent. Proscribed activities are covered by, but not limited to, the following:

  1. The District shall not contract with a company that employs a member of the Board in a managerial capacity, even though the Regent derives no direct financial benefit from the contract. If a Regent directly or indirectly has a pecuniary interest in a contract, and although he may not be influenced by the interest, such a contract so made is void, except as regulated by No. 5.
  2. A Regent shall not intentionally or knowingly offer, confer, or agree to confer on another or solicit, accept or agree to accept from another any pecuniary benefit as consideration for his decision, opinion, recommendation, vote, or other exercise of discretion in an administrative proceeding or any benefit or consideration for a violation of a duty imposed by law on him.
  3. A Regent shall not commit an act relating to his office, nor refrain from performing a duty related to his office, nor take or misapply anything of value in his custody by virtue of his position to obtain a benefit for himself or to harm another.
  4. One person may not occupy two legally incompatible offices. Offices are legally incompatible when the faithful and independent exercise of one would necessarily interfere with the faithful and independent exercise of the other. A Regent is precluded from holding a second position that would permit him to exercise powers over the Board.
A Regent who is a stockholder, officer, director, or employee of a bank that has bid to become a depository for the District shall not vote on the awarding of a depository contract to said bank.

Revised: 3/10/05