Conflicts of Interest

Section 5.200  Conflicts of Interest a)         Members of the Committee cannot be related in any way to or involved with an entity submitting an application for a loan, may not be in a position of authority to participate personally and substantially in the decision to award a State contract or with oversight relative to the procurement process for the State, nor may a member have a material, personal, financial or fiduciary interest that would affect his/her participation on the Committee. b)         The Fund Control Agent or Agents cannot be related in any way to or involved with an entity that has been approved for a loan, may not be in a position of authority to participate personally and substantially in the decision to award a State contract or with oversight relative to the procurement process for the State, nor may a member have a material, personal, financial or fiduciary interest that would affect his/her participation in the program. c)         Members of the Committee and the Fund Control Agent or Agents are required to report to the Department's ethics officer any situation that might indicate a conflict of interest or create the appearance of a conflict.