What are the two main types of conflict of interest for members?

Indirect Interests – Personal, family, and business interests of people or groups with whom the individual associates. Financial Interests – Involve a gain or loss of money or value. Non-financial Interests – Involve personal or familial relationships and other potential sources of bias.

What action should be taken if there is a conflict of interest?

Other strategies to consider: Removal from situation or conflict. Restricted involvement in the situation or conflict and documenting this involvement. Engaging an independent third party to oversee part or all of the relevant activity or process.

What are the types of conflicts of interest?

Types of conflict of interest and duty

Actual conflict of interest:
Potential conflict of interest:
Perceived conflict of interest:
Conflict of duty:
Direct interests:
Indirect interests:
Financial interests:
Non-financial interests:

What constitutes conflicts of interest?

What is a Conflict of Interest? A conflict of interest occurs when an individual’s personal interests – family, friendships, financial, or social factors – could compromise his or her judgment, decisions, or actions in the workplace. Government agencies take conflicts of interest so seriously that they are regulated.

What is loyalty conflict?

A loyalty conflict occurs when the child tries to maintain a positive relationship with both parents, even though the parents are battling with each other. Some children try to resolve their loyalty conflict in a manner that is clearly maladaptive, ie, by aligning with parent A and rejecting parent B.

When does a board member have a conflict of interest?

Specifically, there are certain conflict of interest situations when a board member must abstain from a vote. An example of a conflict of interest is when a board member works for a company that their board is considering hiring.

Can you record an abstention in a conflict of interest?

Note that according to Robert’s Rules of Order, to abstain is to do nothing, and abstentions are not counted. However, for public bodies, or for any body where a conflict of interest is in play, you will want to record abstentions.

What happens if one director abstains on a motion?

If two vote in favor, one votes against and the fourth director abstains, the motion fails. If two vote in favor, one votes against, and the fourth is silent (silent acquiescence), the motion passes. Impact of Recusal on Voting.

When do you have a conflict of interest?

In a nutshell, when you accept a position on a local government body or a nonprofit board, you are obliged to put the interests of the organization above your own personal interest, and you can’t use your position for personal advantage. For example: