Section 163.200 - Conflicts of interestIf you are a director, officer, or employee of a Federal savings association, or have the power to direct its management or policies, or otherwise owe a fiduciary duty to a Federal savings association:
(a) You must not advance your own personal or business interests, or those of others with whom you have a personal or business relationship, at the expense of the savings association; and(b) You must, if you have an interest in a matter or transaction before the board of directors:(1) Disclose to the board all material nonprivileged information relevant to the board's decision on the matter or transaction, including:(i) The existence, nature and extent of your interests; and(ii) The facts known to you as to the matter or transaction under consideration;(2) Refrain from participating in the board's discussion of the matter or transaction; and(3) Recuse yourself from voting on the matter or transaction (if you are a director).