Conflict of Interest Policy (2B)
STANDARD: The organization addresses director, officer, and key staff conflicts of interest pursuant to a written policy that prohibits the interested party from approving or voting on the conflicted transaction and requires full disclosure of all material facts to the appropriate decision makers.
A well-managed nonprofit organization should have a policy that addresses conflicts of interest of its directors, officers and key staff. Conflict of interest policies help to ensure that no person benefits inappropriately from any transactions in which the organization is involved.
SAMPLE Conflict of Interest Policy
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