Title 04 Administrative Agencies and Procedures
Chapter 04.25A United Native Americans Public Development Authority
Section 04.25A.160 Code of Ethics – Conflict of Interest
- Except as provided in this subsection, a director or employee of the authority may not participate in a decision of the authority in which that person or a member of that person’s immediate family has a financial interest unless the financial interest is a remote financial interest and participation is approved under this subsection.
- A director or employee may participate in a decision if that person or a member of that person’s immediate family has only a remote financial interest, the fact and extent of the interest is disclosed to the board of directors in a public meeting and is noted in the minutes of the board of directors before any participation by the director or employee in the decision, and thereafter in a public meeting the board of directors by vote authorizes or approves the participation. If the person whose participation is under consideration is a director, that person may not vote under this subsection. For purposes of this subsection, a “remote financial interest” shall mean that of a/an:
-
- nonsalaried officer or director of a nonprofit corporation;
-
- employee or agent of a contracting party where the compensation of the employee or agent consists entirely of fixed wages or salary and the contract is awarded by bid or by other competitive process;
-
- landlord or tenant of a contracting party, except in cases where the property subject to the lease or sublease is owned or managed by the authority;
-
- holder of less than one percent of the shares of the corporation or cooperative that is the contracting party; or
-
- owner of a savings and loan or bank savings or share account or credit union deposit account if the interest represented by the account is less than two percent of the total deposits held by the institution.
- A director or employee is not considered to be financially interested in a decision when the decision could not affect that person in a manner different from its effect on the public.
- The board of directors may adopt such additional conflict of interest and ethical rules as it considers appropriate.
- For purposes of this section, participation in a decision includes all discussions, deliberations, preliminary negotiations and votes.
Date Passed: Monday, March 26, 2007
Effective Date: Sunday, May 6, 2007
Recodification ORD C33995 Section 1