Conflicts of Interest

Section 1300 Section 1300.5013  Conflicts of Interest a)         An individual has a direct pecuniary interest in a contract when the individual is owed a payment in conjunction with performance of a contract, including, but not limited to, finder's fees and commission payments. b)         Distributable income means the amount of income actually distributed to those entitled to receive a share of such income after a company has paid all expenses, including employee salary and bonuses, and retained earnings. c)         This Section does not apply to contracts with licensed professionals provided such contracts are competitively bid. (For purposes of this Section, "bid" means procured pursuant to the competitive procedures identified in Subpart E of this Part.)