591—1.5 (455G) Potential conflicts of interest. A conflict of interest exists when a member of the board participates in a way that directly affects the personal or financial interests of the board member or an immediate family member. Any board member who may have a personal or financial interest in an action shall abstain from voting and shall be disqualified from serving and participating in deliberations, evaluations and decisions in bringing forth the proposal to the board for consideration. The board member or members who have or think they may have a conflict of interest shall declare that there is or may be a conflict of interest. When a conflict of interest is determined to exist, the board member shall abstain from voting and shall be recorded as abstaining when votes are taken. A majority of a quorum is necessary for any substantive action taken by the board. A quorum may include any member who has a conflict of interest, and a statement of a conflict of interest shall be conclusive for this purpose.
Any member who has a conflict of interest shall not defeat the quorum and shall not be eligible to vote on the matter in conflict. Any vote by a member with a conflict shall be excluded.