The purpose of this policy is to protect The Perl Foundation's interests when it is considering entering into a transaction or arrangement that might benefit the private interest of an officer or director of the foundation. This policy does not replace any applicable state and federal laws governing conflict of interest applicable to nonprofit and charitable organizations
No member of the Board of Directors shall participate in any discussion or vote on any matter in which the director or a member of their immediate family has potential conflict of interest due to having material economic involvement regarding the matter being discussed.
When such a situation presents itself, the director must announce their potential conflict, disqualify themselves, and be excused from the meeting until discussion is over on the matter involved. A recused member may not vote on a motion related to this situation. The chair of the meeting is expected to make inquiry if such a conflict appears to exist and the board member has not made it known.
Adopted by the Board of Directors on 2021-03-01.