Conflict-of-interests policy for Bank directors.

CFR · 2024-01-01 · US · Title 12

(a) (1) Require the directors to administer the affairs of the Bank fairly and impartially and without discrimination in favor of or against any member; (2) Require independent directors to comply with § 1261.10(a); (3) Prohibit the use of a director's official position for personal gain; (4) Require directors to disclose actual or apparent conflicts of interests and establish procedures for addressing such conflicts; (5) Require the establishment of internal controls to ensure that conflict-of-interests reports are made and filed and that conflict-of-interests issues are disclosed and resolved; and (6) Establish procedures to monitor compliance with the conflict-of-interests policy. (b) (c) (d) (e) (f) (1) (2) (3) (i) Any corporation or organization of which the director is an officer or partner, or in which the director beneficially owns ten percent or more of (ii) Any other partner, officer, or beneficial owner of ten percent or more of any class of equity security, including subordinated debt, of any such corporation or organization; and (iii) Any trust or other estate in which a director has a substantial beneficial interest or as to which the director serves as trustee or in a similar fiduciary capacity.

official document · source cfr-2024 · id 12:§ 1261.11