Common use of Disclosure and Notification Requirements Clause in Contracts

Disclosure and Notification Requirements. (i) Applicable employees and affiliates will be required each year to submit a signed statement that verifies awareness of the conflict of interest rules and an agreement to abide by them. (ii) Applicable employees and affiliates must annually disclose the required information by the applicable acreage reporting date. Such disclosure must include the name of the policyholder or person with a substantial beneficial interest in the policyholder, and the type of relationship. (iii) If the applicable employee or affiliate enters into a business, financial, or legal relationship or becomes a relative with the policyholder after the annual disclosure, the applicable employee or affiliate must disclose the information required in paragraph (1) within 15 days of entering the relationship. (iv) The Company must evaluate the business, financial or legal relationship or the relationship with the relative to determine whether the applicable employee or affiliate is in violation of subsection (a), (b), or (c) or whether a conflict of interest review is necessary to determine if such violation has occurred. At a minimum, such reviews will be necessary when: (I) The applicable employee or affiliate is in the immediate family of the policyholder or is a person with a substantial beneficial interest in the policyholder; or (II) The business, financial or legal relationship with the policyholder has the potential to produce an incentive to create or inflate a loss because the applicable employee or affiliate, or a relative of the employee or affiliate, is entitled to a portion of the proceeds of the crop or the crop insurance payment or would otherwise receive a benefit from the policyholder based on the existence of crop insurance and their relationship.

Disclosure and Notification Requirements. (i) Applicable employees and affiliates will be required each year to submit a signed statement that verifies awareness of the conflict of interest rules and an agreement to abide by them. (ii) Applicable employees and affiliates must annually disclose the required information by the applicable acreage reporting date. Such disclosure must include the name of the policyholder or person with a substantial beneficial interest in the policyholder, and the type of relationship. (iii) If the applicable employee or affiliate enters into a business, financial, or legal relationship -relationship or becomes a relative with the policyholder after the annual disclosure, the applicable employee or affiliate must disclose the information required in paragraph (1) within 15 days of entering the relationship. (iv) The Company must evaluate the business, financial or legal relationship or the relationship with the relative to determine whether the applicable employee or affiliate is in violation of subsection (a), (b), or (c) or whether a conflict of interest review is necessary to determine if such violation has occurred. At a minimum, such reviews will be necessary when: (I) The applicable employee or affiliate is in the immediate family of the policyholder or is a person with a substantial beneficial interest in the policyholder; or (II) The business, financial or legal relationship with the policyholder has the potential to produce an incentive to create or inflate a loss because the applicable employee or affiliate, or a relative of the employee or affiliate, is entitled to a portion of the proceeds of the crop or the crop insurance payment or would otherwise receive a benefit from the policyholder based on the existence of crop insurance and their relationship.