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/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, acquisition or sale 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, disclosing or disseminating such information with the intent to obtain financial gain for self or any other person or any other business with which the Board member is associated.
Section 11.4: Whenever any conflict of interest appears to exist after taking the oath of office, the Board member shall immediately fully disclose that conflict to the Executive Committee and to the President of the University. In no event shall such disclosure be delayed longer than seventy-two (72) house prior to consideration of the matter by the Board.
Bylaws Kentucky State University Board of Regents Effective Date: January 23, 2015 (Approved KSU Board of Regents) Page 14 of 15