State of Maryland Employees
Since UMB is a state education institution, all School of Medicine faculty are employees of the State of Maryland and are subject to the State of Maryland Public Ethics Law. Amongst other things, this ethics law prohibits our faculty from:
- Participating in a matter if they or a close relative (a) have an economic interest in the matter, (b) are an officer, director, or trustee in the business entity, or (c) if the matter involves a business entity in which they have a direct financial interest.
- Being employed by or having a financial interest in an entity that is negotiating or has entered into a contract with UMB.
Conflict of Interest Exceptions to State Law
An exemption may granted when the activity results in a clear benefit to the State of Maryland and any potential conflicts can be managed. Examples include consulting agreements, equity ownership in private companies by university employees, holding office or board membership in companies, and dual employment by the University and private business (particularly when investigators receive sponsored research funds from those private companies).