Whereas, 501©(3) corporations are coming under increasing scrutiny from the public, William Jennings recommends that we adopt the following resolution:

No contract or other transaction between the Missouri Council of the Blind and any other corporation or organization, and no act of the Missouri Council of the Blind shall, in any way, be affected or invalidated by the fact that any of the officers of the Council are pecuniarily or otherwise interested in, or are directors or officers of, such other corporation or organization. Any director of the Missouri Council of the Blind individually, or any corporation or affiliate of which any director may be a member, may be a party to, or may be pecuniarily or otherwise interested in, any contract or transaction of the Missouri Council of the Blind, provided that the fact that he/she or such affiliate or other organization is so interested shall be disclosed or shall have been known to the Board of Directors or a majority thereof, including the Representatives of the affiliates.