Conflict
of Interest: Board of Regents
UNIVERSITY POLICY STATEMENT:
No member of the Board of Regents or the University
President shall have a direct or indirect interest,
financial or otherwise, in a contract with the University
or incur any obligation of any nature, when such
contract or obligation is in substantial conflict" or
provides a potential substantial conflict with the
discharge of his or her duties in the public interest.
Furthermore, no member of the Board of Regents
shall accept any payment, remuneration, gratuity
or other money or property of any kind from a corporation,
individual or entity which is engaged in one or
more business transactions with the University where
there is any relationship, direct or indirect, between
the payment to the individual and the transaction
with the University.
(NOTE: A substantial conflict or potential substantial
conflict of interest exists when a Board member
or the university President (1) engages in a business
transaction as a representative/agent of the University
with a business entity in which he/she holds a title
of executive officer, (e.g. President, Vice President,
Secretary, Treasurer), or owns or controls directly
or indirectly more than one percent of that entity;
or (2) accepts other employment or engages in a
business or professional activity which will require
him/her to disclose confidential information acquired
while carrying out his/her official responsibilities.
UNIVERSITY PRACTICE:
University practices for implementing this policy
include:
Members of the Board of Regents and the University
President shall complete a disclosure statement
annually reporting any financial conflict of interest
or potential conflict of interest, financial or
otherwise to the University.
(NOTE: Conflict of interest or potential conflict
is defined as the ownership or control of more than
one percent of any firm or institution providing
goods or services to Eastern Michigan University
by such individuals as noted above or by a member
of their immediate family.)
- A disclosure statement for Board
Members and the University president
is available for compliance with this
policy.
- Members of the Board of Regents
and the University President shall
be required to promptly complete and
file an amended disclosure statement
upon the occurrence of any change
in circumstances or discovery of any
new information that would alter the
previous statement.
RESPONSIBILITY FOR IMPLEMENTATION:
It is the individual responsibility of each Board
member and the University President to disclose
conflicts of interest or potential conflicts of
interest to the University. The University's
Internal Auditor is directly responsible for developing
appropriate procedures for implementing the provisions
of this policy.
SCOPE OF POLICY COVERAGE:
This policy affects all members of the Board of
Regents and the President of Eastern Michigan University.
| Authority
for Creation or Revision: |
|
Minutes of the Board of Regents, June 19,
1974; para. .1384M.
Minutes
of the Board of Regents, December 2, 1987;
para. .3634M.
|
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