[OMS_MANAGERS] Bylaw Verbiage

[Suzanne Wolf]

Hello everyone!

Our Board is currently reviewing our bylaws and would appreciate your feedback regarding verbiage about our investment powers.

In our bylaws, Article IV; B states, “HDOG may invest either monetary or service assets for the furtherance of HDOG.  No portion of the assets, either monetary or service, will be used for the benefit of any HDOG personnel or affiliate for personal gains.”  

A discussion occurred about the second sentence.  In the event of a conflict of interest, does the language of our bylaws reflect a transaction (regarding the organization’s funds and activities) that clearly is in the best interest of the charity rather than private interest?  Should the second sentence be omitted?  In other words, under certain circumstances (for example; monies from a grant), conflict situations are acceptable in which a charitable organization’s personnel and affiliates who are business/property owners do privately benefit.  Should a subsection of this article be added that specifically addresses Board members who are business/property owners?   If so, any suggestions?  Is the action of recusing one’s self from discussing and voting on such matters the only option for Board members who are business/property owners?  

Thank you for your consideration!

Suzanne Wolf, Secretary
Historic Downtown Oak Grove (HDOG) 
-------------- next part --------------
An HTML attachment was scrubbed...
URL: <https://omls.oregon.gov/pipermail/oms_managers/attachments/20190430/65fa86d9/attachment.html>