DISCLOSURE OF OWNERSHIP AND BUSINESS INTERESTS.
1. Business (current or potential) with C.A.R. All C.A.R. Leaders must disclose any direct or indirect ownership and financial interest in any entity that C.A.R, its subsidiaries or affiliated entities are doing business with or that are being considered as potential providers to C.A.R., its subsidiaries or affiliated entities.
2. Competing Businesses and Services. If a C.A.R. Leader has any direct or indirect ownership or financial interest in, or serves in a decision-making capacity with any entity, that competes with products and services offered by C.A.R, its subsidiaries or affiliated entities, then the C.A.R. Leader must disclose that interest prior to speaking to a decision-making body about an issue involving those competing products or services.
Results of Disclosure: After the necessary disclosure, including disclosure to the body when debating the issue involving the interest, the C.A.R. Leader may still be able to debate the issue, depending on the issue and whether the conflict is significant enough to warrant abstention from voting, such as one that creates a conflict of interest (see policy on conflicts of interest).
DISCLOSURE OF POLICY/ORGANIZATION AFFILIATIONS.
1. Use of Position; Confidentiality. C.A.R.’s Directors, Officers or Committee members may not use their position with C.A.R. in order to achieve a financial, strategic or political benefit for themselves or a third party to the detriment of C.A.R., its subsidiaries or affiliated entities, nor may C.A.R. Leaders disclose strategic or confidential information regarding C.A.R. and its policies, business, or organizational objectives.
2. Positions in Other Entities. If a C.A.R. Leader serves in a decision-making capacity with, or has any direct or indirect ownership or financial interest in an entity that advocates public policies that are being considered by C.A.R, or that is doing business with entities that are advocating policies that are being considered by C.A.R., including any affiliated PACs, HAF or other entities, that C.A.R. Leader should disclose such position or business relationship prior to speaking to the related issue under consideration.
Results of Disclosure: After the necessary disclosure, including disclosure to the body when debating the issue involving the interest, the C.A.R. Leader may still be able to debate the issue, depending on the issue and whether the conflict is significant enough to warrant abstention from voting, such as one that creates a conflict of interest.
CONFLICTS OF INTEREST THAT REQUIRE ABSTENTION OR EXCLUSION.
When you are a Director or Committee member of the California Association of REALTORS®, you should vote in a manner that is in the best interest of the members. If you are a member of a board of directors of another entity, or have a role in that other entity, which interests conflict with this duty, it does not change your duty to the C.A.R. members and you may have to abstain from voting. In some instances it is inappropriate for you to have confidential information, given your other organizational role, ownership or financial interest, in which case you should not be present to receive the information or listen to the debate.
Personal Financial Benefit. Directors and Committee members should not participate in the debate when the Director or Committee member has a direct or indirect interest in an entity involved in an issue or when the C.A.R. Leader stands to financially benefit, either personally or through family*, without full disclosure of such interest and its extent. In some instances, such Directors or Committee members should not be present for the debate. The financial interests must be material and do not include minor passive interests in investments (mutual funds, for example) or minor financial interests of less than 10% ownership or control.