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About

NAHAD Today

 August 2019 
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Conflict of Interest Policy

In their capacity as directors, the members of the Board of Directors (the "Board") of The Association for Hose and Accessories Distribution ("NAHAD") must act at all times in the best interests of NAHAD.  The purpose of this policy is to help inform the Board about what constitutes a conflict of interest, assist the Board in identifying and disclosing actual and potential conflicts, and help ensure the avoidance of conflicts of interest where necessary. This policy may be enforced against individual Board members as described below.

CONFLICT OF INTEREST POLICY

  1. Board members have a fiduciary duty to conduct themselves without conflict to the interests of NAHAD. In their capacity as Board members, they must subordinate personal, individual business, third-party, and other interests to the welfare and best interests of NAHAD.

  2. A conflict of interest is a transaction or relationship which presents or may present a conflict between a Board member's obligations to NAHAD and the Board member's personal, business or other interests.

  3. All conflicts of interest are not necessarily prohibited or harmful to NAHAD. However, it is required that any such interested board member(s) make full, advanced disclosure of any and all actual, or potential, conflicts, to the NAHAD Executive Committee. A determination by the disinterested members of the NAHAD Executive Committee (with all interested Board member(s) being recused from participating in debates and voting on the matter) will be required.

  4. All actual and potential conflicts of interests shall be disclosed by Board members to the NAHAD Executive Committee through the annual disclosure form and/or whenever a conflict arises. The disinterested members of the NAHAD Executive Committee shall make a determination as to whether a conflict exists and what subsequent action is appropriate (if any). The NAHAD Executive Committee shall inform the Board of such determination and action.  The Board shall retain the right to modify or reverse such determination and action, and shall retain the ultimate enforcement authority with respect to the interpretation and application of this policy.

  5. On an annual basis, all Board members shall be provided with a copy of this policy and required to complete and sign the acknowledgment and disclosure form below. All completed forms shall be provided to and reviewed by the NAHAD Executive Committee, as well as all other conflict information provided by Board members.