Introduction
Conflict of interest arises whenever the personal or professional
interest of a Board Member is potentially at odds with the best
interests of the Open Library Society, Inc.
Although the legal standards for avoiding conflict of interest for
nonprofit organizations are fairly limited, the Open Library Society
will avoid where possible even the appearance of impropriety.
Individuals and businesses qualified to provide goods and services in
the Open Library Society area are limited, and therefore situations
may arise where Board Members are engaged by the Open Library Society,
or hired by the Open Library Society for projects.
Because these situations all involve potential conflict of interest,
the board of the Open Library Society, Inc. during its
meeting
of 2009–03–29 introduced this conflict of interest policy.
Policy
If an issue is to be decided by the Board that involves potential
conflict of interest for a Board Member, it is the responsibility of
the Board Member to:
- Identify the potential conflict of interest.
- Not participate in discussion of the program or motion being considered.
- Not vote on the issue.
It is the responsibility of the Board to:
- Only decide to hire or contract with the Board member if they are
the best qualified individuals available, and willing to provide the
goods or services needed at the best price.
- Record in the minutes of the Board Meeting the potential conflict
of interest, and the use of the procedures and criteria of this
policy.
Although it is not a conflict of interest to reimburse Board Members
for expenses incurred (such as the purchase of supplies), Board
Members are prohibited by law from being paid for serving on the
Board. Board members will not be able to gain financially or in
in kind, either directly or indicectyl, from individual projects
conducted by the society.
The board—or a duly constituted committee thereof—shall determine
whether a conflict exists and in the case of an existing conflict,
whether the contemplated transaction may be authorized as just, fair,
and reasonable to the society. The decision of the board—or a duly
constituted committee thereof—on these matters will rest in their sole
discretion, and their concern must be the welfare of the society and
the advancement of its purpose.
