Board of Regents Conflict of Interest Policy | KCTCS

 

 

 

KCTCS Board of Regents Policy

Board of Regents Conflict of Interest Policy

Policy Number: 5.2

Current Effective Date: 03/25/2022

Original Effective Date: 03/25/2022

Revision Dates: 0

Revision Number: 0

Revision Summary: new policy implementation

Responsible Official: KCTC Board of Regents

References: KRS 45A.340, KRS 164.390

1. Purpose

This policy governs conflicts of interest to ensure the Board conducts transactions with transparency and integrity.

2. Scope

This policy applies to appointed and elected members of the KCTCS Board of Regents during their terms of service on the Board. It applies to full committee service as well as full Board activities.

3. Policy

  1. A Regent shall be considered to have a conflict of interest if the Regent
    1. acts or advocates against the best interests of KCTCS or one of its colleges;
    2. has existing or potential financial or other interests that impair or reasonably appear to impair the Regent's independent, unbiased judgment in the discharge of their responsibilities to the institution; or
    3. is aware that a family member or any organization in which the Regent or their family member is an officer, director, employee, member, partner, trustee, or controlling stockholder, has such existing or potential financial or other interests.

  2. To ensure the robust conduct of the Board of Regents’ business, nothing in paragraph A(i) of this policy shall be used to intentionally or improperly chill the ability of Regents to engage in discussion.  Because open and free debate is the basis for sound governance, disagreement over positions considered by the Board shall not be construed or interpreted as a conflict of interest unless a course of action violates the law or the fiduciary duties of Regents to the System and its colleges.

  3. For the purposes of this provision, a family member is defined as a spouse, parents, siblings, children, and any other relative if the latter resides in the same household as the Regent.

  4. If a Regent becomes aware of a conflict of interest prior to a meeting, the Regent shall disclose the circumstances to the Board Chair using the Conflict of Interest form.

  5. If the conflict comes to light during a meeting, the Regent must disclose it to the full body at the earliest practical time and before the Regent is involved in any discussion or action.

  6. Once a Regent becomes aware of a conflict, whether prior to or during a meeting, the Regent shall immediately refrain from expressing an opinion or taking a position on the matter. Additionally, the Regent shall not participate in Board discussions of, motions for, or votes on the subject of the conflict.

  7. The minutes of such meetings shall reflect that a disclosure was made and that the Regent who has a conflict or possible conflict abstained from voting. Any Regent who is uncertain whether a conflict of interest may exist in any matter may request that the Board or committee resolve the question in the Regent’s absence by majority vote.

  8. Appointed Regents complete a conflict of interest form when filing their application with the Office of Boards and Commissions.

  9. Elected Regents complete the form when filing to run as a candidate.

  10. All Regents, elected or appointed, shall disclose through an annual certification whether a conflict of interest exists using the Conflict of Interest form.