Indemnification, Legal Defense of Board Members, Conflicts of Interest and Confidential Information
SECTION 11.1: It is the purpose of this article to provide that any member of the Board of Regents be afforded a legal defense and indemnification for any acts or actions taken in good faith and within the scope of his or her official duties while on the official business of the University.
SECTION 11.2: A conflict of interest occurs when any Board member has existing or potential interests that compete or could compete with the interests of the University or any directly affiliated organization, or which impairs or might reasonably impair such Board members' independent, unbiased judgment in the discharge of one's responsibility. Board members shall avoid entering into or maintaining any business or financial interests, transactions, acquisitions or sales of property interest which are or may be in conflict with those of the University. Board members shall avoid any personal interest, direct or indirect, in any contract for the purchase of land, buildings, supplies, or services for the University. Board members shall not accept gifts or benefits from any person holding contracts for supplies or services to the University.
SECTION 11.3: Board members shall refrain from using, discussing, or disseminating confidential information obtained in his or her official capacity as a Board member and through Board discussions during closed sessions of the Board in any manner and for any reason, including, but not limited to, using,