Waiver Of Conflict Of Interest Template For Nonprofit Organizations
Description
How to fill out Sample Attorney Conflict Of Interest Waiver Letter?
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FAQ
Some examples of a conflict of interest could be: Representing a family member in court. Starting a business that competes with your full-time employer. Advising a client to invest in a company owned by your spouse.
Sample Conflict-of-Interest Policy Statement All trustees, officers, agents, and employees of this organization shall disclose all real or perceived conflicts of interest that they discover or that have been brought to their attention in connection with this organization's activities.
A conflict of interest policy is intended to help ensure that when actual or potential conflicts of interest arise, the organization has a process in place under which the affected individual will advise the governing body about all the relevant facts concerning the situation.
What should a conflicts of interest policy include? A policy on conflicts of interest should (a) require those with a conflict (or who think they may have a conflict) to disclose the conflict/potential conflict, and (b) prohibit interested board members from voting on any matter in which there is a conflict.
For example, if the president or treasurer of a nonprofit organization also works full-time as a real estate agent and sells property that the nonprofit owns and makes a commission on it, that is considered a conflict of interest.