D.C. Mun. Regs. tit. 10, r. 10-B3509
Any member, officer, or employee of the Agency who, either directly or indirectly, has an ownership or other financial interest in, or who is an officer or employee of, any firm or agency interested directly or indirectly in any transaction with the Agency or whose relationship to that firm or agency creates the appearance of a conflict of interest, shall disclose this interest to the Agency.
For purposes of this section, a "transaction with the Agency" shall include, but shall not be limited to, any loan to any sponsor, builder, or developer.
Each disclosure shall be set forth in the public record of the Agency.
The member, officer, or employee having the interest or relationship, as described in § 3509.1 of this chapter, shall not participate on behalf of the Agency in the deliberation, authorization, or implementation of any transaction with the Agency.
It shall not be considered having a prohibited interest in a firm or agency if the only relationship is one of depositor in a bank or savings and loan or of customer or vendor in an arms' length business relationship with the firm or agency.
At a public session of the Board, the Board may by a two-thirds majority vote of the incumbent Members, on the public record, waive a conflict of interest that a Member or Officer may have in regards to a particular transaction, sponsor, builder, firm, developer, business, corporation, bank, partnership, limited partnership, person, government agency or other legal entity after the conflict has been specifically identified on the public record (i) outlining the relationship of the Officer or Member to the particular transaction, sponsor, builder, firm, developer, business, corporation, bank, partnership, limited partnership, person, government agency or other legal entity, and (ii) stating any benefit, advantage or gain (financial or otherwise), direct or indirect, received by the Officer or Member.
The Board may waive a conflict of interest by a two-thirds majority vote of the incumbent Members, on the public record, in cases where the Officer or Member is merely an employee of the sponsor, builder, firm, developer, business, corporation, bank, partnership, limited partnership, person, government agency or other legal entity and the Officer or Member has no decision making authority with respect to or influence over the matter presented to the Board for a waiver of conflict.
Notwithstanding anything to the contrary, the Board may waive a conflict of interest by a two-thirds majority vote of the incumbent Members if the Board determines on the public record that the interest will not adversely affect the Agency.
D.C. Mun. Regs. tit. 10, r. 10-B3509