Practice 4A: Dealing with Conflicts of Interest
Source
About This Practice
This guidance covers practice 4A which has three elements:
1. ⬤ Adopt a written conflict of interest policy that addresses, for all insiders, how conflicts are identified and avoided or managed.
2. ⬤ Document the disclosure and management of actual and potential conflicts.
3. When engaging in any transaction with an insider:
a) Follow the conflict of interest policy.
b) Contemporaneously document that there is no private inurement.
⬤ Accreditation indicator element | ■ Terrafirma enrollment prerequisite | ▲ Required for both
May 2026 update: Updated accreditation requirements for Practice Elements 4A1 and 4A3 to reflect the 2026 Requirements Manual.
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For accreditation-related materials, please also consult the Land Trust Accreditation Commission website.