Section 526.5035  Disclosure of Financial Interests and Potential Conflicts of Interest

a)         For the purposes of the financial disclosures required of vendors under Section 50-35 of the Code, the following terms shall have the same meaning as in the Code and as further defined below:

1)         "Distributive or Distributable Income" − The income of a company after expenses, including employee salaries and bonuses and retained earnings, which is distributed to those entitled to receive a share of such income.

2)         "Personal Services" − Any contract for services subject to this Code, including, by way of example, professional and artistic services, repair services, cleaning and guard services.

3)         "Competitively Bid" − A contract let pursuant to Section 20-10 of the Code.

4)         "Subject to Federal 10K Reporting" − Subject to the reporting requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934.

5)         "10K Disclosure" − A report required under Section 13 or 15(d) of the Securities Exchange Act of 1934.

b)         Once a disclosure is made in relation to a particular contract, the disclosure need not be repeated if the contract is amended.

c)         10K Disclosures

Any vendor subject to Federal 10K reporting requirements may submit its 10K to the University in satisfaction of the disclosure requirement of Section 50-35(b) of the Code provided the vendor also identifies the specific sections or parts in the 10K disclosure where the University may find information, if any, pertaining to those who have an ownership interest or an interest in the distributable income of the vendor or its parent, or other information that the vendor knows or reasonably should know identifies a potential conflict of interest with the State.  If the financial interest or conflict of interest information requested by the University is not in the 10K, but is in a document referenced in the 10K, or in a document that may be submitted to the SEC in conjunction with or in lieu of the 10K, then that additional documentation shall be provided as well.

d)         The disclosures of each successful bidder or offeror shall become a part of the publicly available contract file.  Any potential conflict of interest identified by the public and brought to the attention of the CPO or SPO shall be investigated.