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16 <br />Contract 468 -2001 <br />Holcomb and Cabe, L.L.P. <br />committees with governing board delegated powers considering the possible conflict of interest. <br />After disclosure of all material facts, and after any discussion with the person, he /she shall leave <br />the governing board or committee meeting while the determination of a conflict of interest is <br />discussed and voted upon. The remaining board or committee members shall decide if a conflict <br />of interest exists. In addition, the person(s) shall not participate in the final deliberation or <br />decision regarding the matter under consideration and shall leave the meeting during the <br />discussion of and vote of the Board of Directors /Trustees or other governing body. <br />F. Violations of the Conflicts of Interest Policy -- If the Board of Directors /Trustees or other <br />governing body has reasonable cause to believe a member, officer, employee or agent has failed <br />to disclose actual or possible conflicts of interest, it shall inform the person of the basis for such <br />belief and afford the person an opportunity to explain the alleged failure to disclose. If, after <br />hearing the person's response and after making further investigation as warranted by the <br />circumstances, the Board of Directors /Trustees or other governing body determines the member, <br />officer, employee or agent has failed to disclose an actual or possible conflict of interest, it shall <br />take appropriate disciplinary and corrective action. <br />G. Record of Conflict -- The minutes of the governing board and all committees with board <br />delegated powers shall contain: <br />I. The names of the persons who disclosed or otherwise were found to have an actual or <br />possible conflict of interest, the nature of the conflict of interest, any action taken to <br />determine whether a conflict of interest was present, and the governing board's or <br />committee's decision as to whether a conflict of interest in fact existed. <br />2. The names of the persons who were present for discussions and votes relating to the <br />transaction or arrangement that presents a possible conflict of interest, the content of the <br />discussion, including any alternatives to the transaction or arrangement, and a record of <br />any votes taken in connection with the proceedings. <br />Approved by: <br />Name of Organization <br />Signature of Organization Official <br />Date <br />Conflict of Interest Policy (06/04) Page 2 of 3 <br />