Conflict of Interest Policy
Cantus
Board of Directors
Conflict of Interest Resolution
The Board of Directors of Cantus shall not enter into any contract or transaction with (a) one or more of its directors, (b) a director of a related organization or (c) an organization in or of which a director Cantus is a director, officer or legal representative, or in some other way has a material financial interest unless:
1. That interest is disclosed or known to the Board of Directors,
2. The Board approves, authorizes or ratifies the action in good faith,
3. The approval is by a majority of directors (not counting the interested director),
4. At a meeting where a quorum is present (not counting the interested director).
The interested director may be present for discussion to answer questions, butmay not advocate for the action to be taken and must leave the room while a vote is taken. The minutes of all actions taken on such matters shall clearly reflect that these requirements have been met.
Approved: February 10, 2010
Board of Directors
Conflict of Interest Resolution
The Board of Directors of Cantus shall not enter into any contract or transaction with (a) one or more of its directors, (b) a director of a related organization or (c) an organization in or of which a director Cantus is a director, officer or legal representative, or in some other way has a material financial interest unless:
1. That interest is disclosed or known to the Board of Directors,
2. The Board approves, authorizes or ratifies the action in good faith,
3. The approval is by a majority of directors (not counting the interested director),
4. At a meeting where a quorum is present (not counting the interested director).
The interested director may be present for discussion to answer questions, butmay not advocate for the action to be taken and must leave the room while a vote is taken. The minutes of all actions taken on such matters shall clearly reflect that these requirements have been met.
Approved: February 10, 2010
