Common use of Interested Transactions Clause in Contracts

Interested Transactions. The Charter School shall discretely and clearly record in the accounting, auditing, budgeting, reporting, and recordkeeping systems for the management and operation of the charter school, the following: i. financial transactions between the charter school and the non-charter activities of the charter holder; ii. financial transactions between the charter school and an officer or employee of the charter holder or the charter school; iii. financial transactions between the charter school and a member of the governing body of the charter holder or the charter school; iv. financial transactions between the charter school and a management company charged with managing the operations and/or finances of a charter school; and v. financial transactions between the charter school and any other person or entity in a position of influence over the charter holder or the charter school.