Ethics and Conflicts Policy Statement
Adopted: December 9, 2014
This Ethics and Conflicts Policy Statement (the “Policy Statement”) sets forth the standards relating to ethical conduct and conflicts of interest for Trustees and Officers of the Greenwich Library (the “Library”). For purposes of this Statement, Trustees means active members of the Library’s Board (the “Board”) and Officers means the Director and Deputy Director of the Library.
- Compliance with Laws and Other Ethical Standards
Trustees and Officers shall comply with the letter and spirit of all applicable local, state and federal laws, the ethical standards set forth in this Policy Statement, and any additional ethical standards set forth by organizations relevant to the particular profession(s) of each Trustee and Officer. In recognition of the fact that Officers of the Library are employees of the Town of Greenwich, in the event of a conflict or inconsistency between the standards set forth in this Statement and any more stringent standard of conduct promulgated by the Town of Greenwich, the Town’s standard shall control.
- Fiduciary Duties
Trustees and Officers owe the fiduciary duties of care, loyalty and obedience to the Library. The duty of care requires Trustees and Officers to exercise the care that an ordinarily prudent person would exercise in a like position and under similar circumstances. The duty of loyalty requires Trustees and Officers to faithfully pursue the interests of the Library rather than their own financial or other interests or those of another person or organization. The duty of obedience requires Trustees and Officers to act with fidelity to the Library’s mission.Trustees and Officers shall be attentive to the Library’s activities and finances. Trustees shall oversee the way in which the Library’s assets and affairs are managed and Officers of the Library shall be actively engaged in such management. This includes attending and participating in meetings, reading and understanding financial statements, asking questions and exercising sound judgment. Breach of any fiduciary duty by a Trustee or Officer may subject the Trustee or Officer to financial or legal consequences and may result in removal from his or her position as a Trustee or Officer.Trustees and Officers should keep in mind that any action taken by them as individuals may reflect on, or be attributed to, the Library. No Trustee or Officer shall misuse the Library’s name, reputation, property or services, nor shall any Trustee or Officer compromise the Library’s goodwill.
- Conflicts of Interest