OREGON ADULT SOCCER ASSOCIATION, INC.
CONFLICT OF INTEREST POLICY
Policy Statement
It is the policy of Oregon Adult Soccer Association, Inc. (the “OASA”), a nonprofit organization, that members of the Board of Directors, officers and others acting on the OASA's behalf (“Obligated Persons”) must be free from conflicts of interest that could adversely influence their judgment, objectivity or loyalty to the OASA when conducting OASA meetings and activities. Obligated Persons may take part in legitimate financial, business and other activities outside the OASA, but any potential conflict of interest raised by those activities must be disclosed promptly to the Board.
Definitions
A conflict of interest transaction or arrangement is a transaction or arrangement with the OASA in which an Obligated Person has a direct or indirect interest.
1. An Obligated Person has a direct interest in any transaction or arrangement if the Obligated Person or a member of the Obligated Person’s family has a financial interest in the transaction or arrangement.
2. An Obligated Person has an indirect interest in any transaction or arrangement if the Obligated Person or a family member:
(a) Has a financial interest or potential financial interest in any entity or individual involved in the transaction or arrangement;
(b) Has a compensation arrangement with any entity or individual with which the OASA has a transaction or arrangement; or
(c) Is a director, officer or trustee of a profit or nonprofit entity involved in the transaction or arrangement.
Procedures
Any Obligated Person with knowledge of an actual or potential conflict of interest on the part of that Obligated Person or any other Obligated Person shall inform the Board of Directors of the conflict. The Board shall obtain disclosure of the financial interest and all material facts. After any discussion with the Obligated Person, the Obligated Person shall leave the meeting while the Board determines whether a conflict of interest exists. If the Board determines that a conflict exists, the Board shall follow these procedures to address the conflict of interest:
1. The Obligated Person may make a presentation to the Board but after the presentation shall leave the meeting during the discussion of and the vote on the transaction or arrangement involving the conflict of interest.
2. The Board shall investigate alternatives to the proposed transaction or arrangement. After exercising due diligence, the Board shall determine whether the transaction or arrangement is fair to the OASA. The transaction or arrangement must be approved by a majority of all the members of the Board who have no direct or indirect interest in the transaction or arrangement and otherwise comply with the quorum and voting requirements of the OASA’s Bylaws.
Minutes
The minutes of the Board of Directors meeting shall contain the names of the persons who had a conflict of interest, the nature of the financial interest, a summary of the discussion to determine whether a conflict was present and the vote as to whether a conflict was present. The minutes also shall contain the names of the directors and officers present for the discussion of the transaction or arrangement itself, a summary of the discussion and the vote on the transaction or arrangement.