{"data":{"id":"us-fl/fla.-stat.-496.4055","jurisdiction":"us-fl","citation":"Fla. Stat. § 496.4055","heading":"Charitable organization or sponsor board duties.","body":"(1) As used in this section, the term “conflict of interest transaction” means a transaction between a charitable organization or sponsor and another party in which a director, officer, or trustee of the charitable organization or sponsor has a direct or indirect financial interest. The term includes, but is not limited to, the sale, lease, or exchange of property to or from the charitable organization or sponsor; the lending of moneys to or borrowing of moneys from the charitable organization or sponsor; and the payment of compensation for services provided to or from the charitable organization or sponsor.\n(2) The board of directors, or an authorized committee thereof, of a charitable organization or sponsor required to register with the department under s. 496.405 shall adopt a policy regarding conflict of interest transactions. The policy shall require annual certification of compliance with the policy by all directors, officers, and trustees of the charitable organization. A copy of the annual certification shall be submitted to the department with the annual registration statement required by s. 496.405.\nHistory.—s. 7, ch. 2014-122; s. 44, ch. 2024-137; s. 87, ch. 2025-22.","path":["CHAPTER 496 SOLICITATION OF FUNDS"],"source_url":"https://www.leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute\u0026URL=0400-0499/0496/0496.html","current_through":"2026 Florida Statutes","vintage":"","retrieved_at":"2026-08-27T02:07:41Z","sha256":"10172e1635f9087cc092c1bd82a98b76fa844ad32d2943aa22907590bad91d17","source_id":"us-fl","stale":false,"prev":"us-fl/fla.-stat.-496.405","next":"us-fl/fla.-stat.-496.406"},"notice":"GroundRules: Original legal text. Not legal advice."}