Article I: Purpose

The purpose of the Conflict of Interest Policy is to protect Loconomics’ interest when it is contemplating entering into a transaction or arrangement that might benefit the private interest of a Loconomics Officer, Director, Staff Trustee, or member of an Empowered Committee (collectively referred in this Policy as “Decision-makers” and each of which may be referred to as a “Decision-maker”). This Policy is intended to expand upon the California state statute governing conflicts of interest in a Cooperative Corporation, and incorporates elements of nonprofits’ common conflict of interest policies, further expanding the policy to apply to staff of Loconomics.²³

²³. See section 12373 of the California Corporations Code. ↩