Code of Ethics

Topics: Fiduciary, Board of directors, Conflict of interest Pages: 4 (1000 words) Published: August 6, 2013
Code of Business Conduct and Ethics
Introductory Statement
Second Chances is committed to conducting business in accordance with the highest standards of business ethics and complying with applicable laws, rules and regulations. In furtherance of this commitment, the Board of Directors (the "Board") promotes ethical behavior, and has adopted this Code of Business Conduct and Ethics for Administrators ("Code"). Every Administrator must:

(i) represent the interests of the shareholders of Second Chances; (ii) exhibit high standards of integrity, commitment and independence of thought and judgment; (iii) dedicate sufficient time, energy and attention to ensure the diligent performance of his or her duties; and (iv) comply with every provision of this Code.

Conflicts of Interest
Administrators must avoid conflicts of interest. A conflict of interest occurs when an individual's private interest interferes in any way with the interests of the company or any of its subsidiary and affiliated companies. A conflict of interest may also arise when an Administrator, or a member of his or her immediate family*, receives improper personal benefits as a result of his or her position in the Company. Administrators should also be mindful of, and seek to avoid, conduct which could reasonably be construed as creating an appearance of a conflict of interest. While the Code does not attempt to describe all possible conflicts of interest that could develop, the following are examples of conflicts of interest: (i) receiving guarantees of obligations or loans as a result of one's position as an Administrator; (ii) engaging in conduct or activity that improperly interferes with the Company's existing or prospective business relations with a third party; (iii) accepting bribes, kickbacks or any other improper payments for services relating to the conduct of the business of the Company; and (iv) accepting, or having a member of an Administrator’s immediate family accept, a gift from...
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