172.320. Bank depository selection by bid, policies and rules--conflict of interest, rules--employees interest in contracts with university, disclosure required--failure to disclose, effect--curators

MISSOURI STATUTES AND CODES

172.320. Bank depository selection by bid, policies and rules--conflict of interest, rules--employees interest in contracts with university, disclosure required--failure to disclose, effect--curators

Bank depository selection by bid, policies and rules--conflict ofinterest, rules--employees interest in contracts with university,disclosure required--failure to disclose, effect--curators not toparticipate in board decisions if conflict of interest.

172.320. 1. The curators of the University of Missourishall adopt policies and rules to require selection of the lowestand best bid when bidding bank depository agreements or whenpurchasing supplies or other personal property.

2. The curators of the University of Missouri shallpromulgate and approve a conflict of interest policy andregulations thereto.

3. Employees of the university may be directly or indirectlyinterested in a contract with the curators of the University ofMissouri if the employee discloses such a direct or indirectinterest prior to execution of the contract and the contractwould not constitute a conflict of interest as determined by thepolicy required by subsection 2 of this section. Failure by theemployee to disclose such an interest may constitute grounds fordiscipline of the employee or cancellation of the contract orboth.

4. Curators of the university in their individual capacityshall disclose any possible conflict of interest that may ariseand shall not participate in any decision of the board asotherwise provided by law.