Current through Register Vol. 45, No. 52, December 27, 2023
(a) Each university or college participating
in the START-UP NY Program shall adopt a conflict of interest policy. Such
conflict of interest policy shall provide, as it relates to the program:
(1) as a general principle, that service as
an official of the university or college shall not be used as a means for
private benefit or inurement for the official, a relative thereof, or any
entity in which the official, or relative thereof, has a business
interest;
(2) no official who is a
vendor or employee of a vendor of goods or services to the university or
college, or who has a business interest in such vendor, or whose relative has a
business interest in such vendor, shall vote on, or participate in the
administration by the university or college, as the case may be, of any
transaction with such vendor; and
(3) upon becoming aware of an actual or
potential conflict of interest, an official shall advise the president or chief
executive officer of the university or college, as the case may be, of his or
her or a relative's business interest in any such existing or proposed vendor
with the university or college.
(b) Each university or college shall maintain
a written record of all disclosures of actual or potential conflicts of
interest made pursuant to this section, and shall report such disclosures, on a
calendar year basis, by January 31st of each year, to the auditor for such
university or college. The auditor shall forward such reports to the
commissioner, who shall make public such reports.
(c) For purposes of such conflict of interest
policies:
(1) an official of a university or
college has a "business interest" in an entity if the individual:
(i) owns or controls 10 percent or more of
the stock of the entity (or one percent in the case of an entity the stock of
which is regularly traded on an established securities exchange); or
(ii) serves as an officer, director or
partner of the entity;
(2) a relative of an official of a
university or college shall mean any person living in
the same household as the individual and any person who is a direct descendant
of that individual's grandparents or the spouse of such descendant;
and
(3) an official of a
university or college shall mean an employee at the
level of dean and above as well as any other employee with decision-making
authority over the START-UP NY Program.
Amended
New
York State Register November 20, 2019/Volume XLI, Issue 47, eff.
11/20/2019
