Article I: Purpose. The purpose of this conflict of interest (COI) policy is to protect the US Chess Federation’s (US Chess’s) interest when it is entering into or contemplating a transaction or arrangement that might benefit the private interest of a delegate that might result in a possible excess benefit transaction. This policy is intended to supplement but not replace any applicable state and federal laws governing conflict of interests applicable to nonprofit and charitable organizations. This COI policy is separate and apart from the COI policy applying to US Chess Executive Board members.

Article II: Definitions. 1. Interested Person. Any delegate who has a direct or indirect financial interest, as defined below, is an interested person. 2. Financial Interest. A person has a financial interest if the person has, directly or indirectly, through business, investment, or family: a. An ownership or investment interest in any entity with which US Chess has a transaction or arrangement, b. A compensation arrangement with US Chess or with any entity or individual with which US Chess has a transaction or arrangement, or c. A potential ownership or investment interest in, or compensation arrangement with, any entity or individual with which the US Chess is negotiating a transaction or arrangement. Compensation includes direct and indirect remuneration as well as gifts or favors that are not insubstantial. A financial interest is not necessarily a conflict of interest. Under Article III, Section 2, a person who has a financial interest may have a conflict of interest only if the COI Committee decides that a conflict of interest exists.

Article III: Procedures. 1. Duty to Disclose. In connection with any actual or possible conflict of interest, a Delegate who is an interested person must disclose the existence of any financial interest to, and be given the opportunity to discuss all material facts with, the Delegates’ Conflict of Interest Committee. 2. Determining Whether a Conflict of Interest Exists. At each Annual Delegates Meeting, the Delegates shall elect a Conflict of Interest Committee immediately following the selection of the Parliamentarian. The Committee shall consist of three Delegates present at the Annual Meeting. After disclosure of any financial interest and material facts (Art. III, 1.), and after any discussion with the interested person, the COI Committee will expeditiously determine by a majority vote whether a conflict exists and prepare a recommendation for action to be made to the Delegates if a conflict is found. A Delegate may disclose a potential conflict of interest to the US Chess President prior to the commencement of the Annual Delegates Meeting. The President will notify the COI Committee Chair of the disclosure at the earliest possible time. The COI Committee will remain seated until the next Annual Delegates Meeting.

Article IV: Family in Article II, 2 is defined as direct descendants, spouses, or partners in a civil union, siblings by birth, marriage or adoption, or adopted children, and parent or step parent and stepchild.