N.Y. COM Law § 439

§ 439. Conflict of interest guidelines. 1. Each campus, university or\ncollege participating in the START-UP NY program shall adopt a conflict\nof interest policy. Such conflict of interest policy shall provide, as\nit relates to the START-UP NY program: (a) as a general principle, that\nservice as an official of the campus, university or college shall not be\nused as a means for private benefit or inurement for the official, a\nrelative thereof, or any entity in which the official, or relative\nthereof, has a business interest; (b) no official who is a vendor or\nemployee of a vendor of goods or services to the campus, university or\ncollege, or who has a business interest in such vendor, or whose\nrelative has a business interest in such vendor, shall vote on, or\nparticipate in the administration by the campus, university or college,\nas the case may be, of any transaction with such vendor; and (c) upon\nbecoming aware of an actual or potential conflict of interest, an\nofficial shall advise the president or chief executive officer of the\ncampus, university or college, as the case may be, of his or her or a\nrelative's business interest in any such existing or proposed vendor\nwith the campus, university or college. Each campus, university or\ncollege shall maintain a written record of all disclosures of actual or\npotential conflicts of interest made pursuant to paragraph (c) of this\nsubdivision, and shall report such disclosures, on a calendar year\nbasis, by January thirty-first of each year, to the auditor for such\ncampus, university or college. The auditor shall forward such reports to\nthe commissioner, who shall make public such reports.\n 2. For purposes of such conflict of interest policies: (a) an official\nof a campus, university or college has a "business interest" in an\nentity if the individual: (i) owns or controls ten percent or more of\nthe stock of the entity (or one percent in the case of an entity the\nstock of which is regularly traded on an established securities\nexchange); or (ii) serves as an officer, director or partner of the\nentity; (b) a "relative" of an official of a campus, university or\ncollege shall mean any person living in the same household as the\nindividual and any person who is a direct descendant of that\nindividual's grandparents or the spouse of such descendant; and (c) an\n"official" of a campus, university or college shall mean an employee at\nthe level of dean and above as well as any other employee with\ndecision-making authority over the START-UP NY program.\n