Section 320.5 - Exceptional Circumstances Requiring Participation(a) The requirements of this Chapter related to conflicts of interest may be waived under exceptional circumstances for a member of the Board, the Executive Director, Chief Compliance Officer, or staff of the Commission. The waiver may only be granted in accordance with the requirements of this section.(b) Exceptional circumstances providing a potential basis for waiver:(1) Expertise or unique qualifications. The individual who holds the conflict is the only individual affiliated with the Commission with the expertise and ability to appropriately evaluate an application for a grant from the Fund.(2) Participation Significantly Outweighs Bias. The value of the participation of the individual who holds the conflict significantly outweighs the potential bias the individual may have in the review of an application.(3) Board Discretion. The Board may determine, in an open meeting and upon a majority vote of members present, that a circumstance presented to the Board presents an exceptional circumstance that requires participation of a member or staff member. A member whose circumstances are under consideration by the Board under this provision must recuse himself or herself from participation in the discussion, consideration, and vote on the determination made in this paragraph.(c) Procedure for seeking waiver of conflict-of-interest requirements for an exceptional circumstance:(1) The Executive Director or a member of the Board may propose granting a waiver to a conflicted individual by submitting to the Chair a written statement about the conflict of interest, the exceptional circumstance requiring the waiver, and any proposed limitations to the waiver;(2) the proposed waiver must be publicly reported at a meeting of the Board;(3) a majority vote of the Board members present and voting must vote to grant a waiver; and(4) the Commission must retain documentation of each waiver granted and retain them in accordance with the record retention policy applicable to the Commission.10 Tex. Admin. Code § 320.5
Adopted by Texas Register, Volume 49, Number 31, August 2, 2024, TexReg 5768, eff. 8/6/2024