The Board of UofSA recognizes that a board member is required to comply with applicable provisions of California law regarding conflicts of interest, including Title 18, Article 8, Section 308; Title 18, Article 8, Section 402; and Title 24, Article 18, Section 108.5, California Revised Statutes. To further enhance the credibility and accountability of the Board, the Board has adopted the following additional conflict of interest policies.
Conflict of Interest Policy*
Consistent with a Board’s fiduciary responsibility, a Board member (“Member”) is expected to serve the public trust and to exercise his or her powers and duties in the interest of the public, the University, and the Board and not in the Member’s own interest or in the interest of another person or entity. A Member shall exercise care that their independent judgment in the discharge of responsibilities is not impaired as a result of conflicts between the interests of the University and the Member’s own financial interest or personal interest, or the financial interests or personal interests of the members of the Member’s family. In the event that a Member believes that he or she has a conflict of interest, the Member shall disclose the conflict to the Board and shall refrain from participating in the matter to which the conflict relates.
A Member shall not use confidential information acquired in the course of the performance of his or her responsibilities to further his or her own financial interest or personal interest, or the financial interests or personal interests of the members of the Member’s family or associates.
For the purpose of the application of this policy, “financial interest” means a substantial interest held by an individual which is:
an ownership interest in a business;
a creditor interest in an insolvent business;
an employment or prospective employment for which negotiations have begun;
an ownership interest in real or personal property;
a loan or other debtor interest; or
a directorship or officership in a business; or
a personal and material economic interest in a transaction.
The “family” of a Member includes his or her spouse, dependents, and, if living in the same household and sharing expenses, other individuals. An “associate” of a Member includes a person, entity, or enterprise with respect to which the Member is a (i) is a director, officer, employee, member, partner, or trustee; or (ii) has a financial interest that represents 5% or more of his or her assets or any interest that enables him or her to exercise control or to influence policy significantly; or (iii) any other material association
The University of Silicon Andhra shall not have any business relationship with any company, corporation, partnership or other entity or venture in which a member of the Board serves, directly or indirectly, in an executive or policy-making position.
* Please note that several sections of this policy document were adopted directly from the University of Pacific’s policy. UofSA has obtained permission from the University of Pacific to use some of their policy documents as is until UofSA specific policies are developed. UofSA hereby thanks the University of Pacific for their exemplary generosity.