NIRSA Board of Directors

Conflict of Interest Policy

Adopted by the Board of Directors on October 20, 2002

The Board of Directors of the National Intramural-Recreational Sports Association (the “Association”) has adopted the following policy to ensure that the affairs of the Association are managed in an ethical manner, free from the temptations for personal gain which conflicting desires may provide. There are no exceptions to this policy.

The Association expects all employees, officers and directors to exercise good judgment and the highest ethical standards in their private activities outside the Association which in any way can affect the Association. In particular, every employee, officer and director has an obligation to avoid any activity, agreement, business investment or interest, or other situation which is in conflict with the Association's interests or interferes with the duty to serve the Association at all times to the best of the person's ability. To implement this principle and to establish clear guidelines, the following policy has been adopted:

1. No employee shall furnish services to, or seek or receive, for personal or any other person's gain, any payment, whether for services or otherwise, loan (except from a bank), gift or discount of more than nominal value, or entertainment which goes beyond common courtesies usually associated with accepted business practice, from any business enterprise which is a competitor of the Association or has current or known prospective dealings with the Association as a supplier, customer, lessor or lessee, except with the prior written approval of the Executive Director upon complete disclosure of the facts. If the matter involves a director or the Executive Director, then the director or Executive Director must first obtain the prior written approval of the Board of Directors upon complete disclosure of the facts.
2. No employee or director shall for personal or any other person’s gain deprive the Association of any opportunity for benefit which could be construed as related to any existing or reasonably anticipated future activity of the Association.
3. No employee shall have any outside interest which materially interferes with the time or attention that the employee should devote to the Association.
4. No employee or director shall have a direct or indirect financial interest in, or receive any compensation or benefits as a result of, transactions between any individual or business firm:
   1. From which the Association purchases supplies, materials or property;
   2. Which renders any service to the Association;
   3. Which enters into leases or assignments to or from the Association;
   4. To which the Association sells any of its products, materials, facilities or properties; or
   5. Which has any other contractual relations or business dealings with the Association;
   
   except with the prior written approval of the Executive Director upon complete disclosure of the facts. If the matter involves a director or the Executive Director, then the director or Executive Director must first obtain the prior written approval of the Board of Directors upon complete disclosure of the facts.
   
   The financial interests mentioned above do not include interests in corporations listed on a national stock exchange or traded over the counter, providing the financial interest is one percent or less of said corporation’s outstanding shares.
5. If any employee or director or member of his or her family has or is about to assume an interest or other outside relationship which might result in a conflict of interest, it is the employee’s duty responsibility immediately to give all the pertinent information to the Executive Director, who shall report all information to the President.
6. Article III, Section 15 of the Bylaws of the Association provides that a conflict of interest on the part of any director must be disclosed or known to the Board of Directors or a committee of the Board of Directors. Transactions in which a director has a conflict of interest may be approved and is not voidable if the transaction is fair to the Association. A conflict of interest may be approved by the Board of Directors as provided for in Article III, Section 15, of the Bylaws.