§ 163.200. Conflicts of interest.
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/us/cfr/t12/s§ 163.200·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
If you are a director, officer, or employee of a Federal savings association, or have the power to direct its management or policies, or otherwise owe a fiduciary duty to a Federal savings association:
(a)You must not advance your own personal or business interests, or those of others with whom you have a personal or business relationship, at the expense of the savings association; and
(b)You must, if you have an interest in a matter or transaction before the board of directors:
(1)Disclose to the board all material nonprivileged information relevant to the board's decision on the matter or transaction, including:
(i)The existence, nature and extent of your interests; and
(ii)The facts known to you as to the matter or transaction under consideration;
(2)Refrain from participating in the board's discussion of the matter or transaction; and
(3)Recuse yourself from voting on the matter or transaction (if you are a director).
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§ 163.200
Conflicts of interest.
Fed. Reg.×5
C.F.R.×1
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