Conflict of Interest Policy
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The purpose of the conflict of interest policy is to protect the corporation's interest when it is contemplating entering into a transaction or arrangement that might benefit the private interest of an officer or director of the Corporation or might result in a possible excess benefit transaction. This policy is intended to supplement but not replace any applicable state and federal laws governing conflict of interest applicable to non-profit and charitable corporations.
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This conflict of interest policy template was drafted by an attorney. This document is intended to be used as a sample or model only. Some of the information provided in this template may or may not fit the needs of a specific organization. Use of this template should not be construed as legal counsel or substitute the advice of an attorney.
- The conflict of interest policy is a document that your nonprofit creates to govern situations when there is a conflict between the interests of the nonprofit and the interests of those who might privately benefit from its actions.
- The conflict of interest policy should be supplemented by an annual disclosure statement to the board of directors of all known conflicts.