Conflict of Interest Policy

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Last updated April 14, 2022

The organization is bound to provide relevant information about any conflicts of interest to safeguard the ByFERIAL LLC’s interest when it contemplates entering into a transaction or arrangement that might benefit a private interest or may result in possible excess benefit transactions. This policy is intended to supplement but not replace applicable state and federal laws governing conflict of interest in for-profit and nonprofit organizations.

DEFINITIONS

Interested Persons – Any director, executive committee member, or Empower Global Networking Group member, who has either direct or indirect financial interest, as defined below, is an interested person.

Financial Interest – A person has a financial interest if the person has, directly or indirectly, through business, investment, or family:
Compensation – includes remuneration from straightforward and indirect sources and non-insignificant gifts or favors.

A financial interest is not necessarily a conflict of interest. A person with a financial interest may have a conflict of interest only if the appropriate Executive Committee has deemed a case of conflict of interest exists.

RECORDING OF PROCEEDINGS

The minutes of the Executive Committee with committee-delegated powers shall contain:

COMPENSATION

PERIODIC REVIEWS

PROCEDURE

Click Here to Download Conflict of Interest Statement Annual Declaration
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