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BELL: CS/SB 1178 Page 12 • Holds an interest in a corporation, limited liability corporation, partnership, limited liability partnership, or other business entity that conducts business with the association or proposes to enter into a contract or other transaction with the association. Under the bill, if the association receives and considers a bid to provide a good or service, other than community association management services, from a CAM or CAM firm, including directors, officers, persons with a financial interest in a CAM firm, or a relative of such persons, the association must also consider at least three bids from other third -party providers of such good or service. The bill requires that the proposed activity that may be a conflict of interest must be listed on, and all contracts and transactional documents related to the proposed activity must be attached to, the board's meeting agenda and entered into the written minutes of the meeting. The board must approve the contract or other transaction by an affirmative vote of two-thirds of all other directors present. At the next regular or special meeting of the members, the existence of the contract or other transaction must be disclosed to the members. If the contract is canceled because the board finds that the CAM or CAM firm has violated the discloser requirements, the bill provides that the association is liable only for the reasonable value of the goods and services provided up to the time of cancellation and is not liable for any termination fee, liquidated damages, or other form of penalty for such cancellation. Under the bill, if the activity has not been properly disclosed as a conflict of interest or potential conflict of interest, the contract is voidable and terminates upon the association filing a written notice terminating the contract with its board of directors. The bill defines the term "relative" to mean a relative within the third degree of consanguinity28 by blood or marriage of a board member or officer. The bill provides that the procedures in the bill related to disclosures of financial interests, including the multiple bid requirements, the requirement for a two-thirds vote of approval by the board, and the right to cancel a contract do not apply to conflicts of interest disclosed in the management services contract. The bill revises the disciplinary grounds for CAMs and CAM firms to provide a disciplinary grounds on the basis of a CAM or CAM firm's failure to disclose a conflict of interest as required by s. 468.4335, F.S. " Relatives of the third degree of consanguinity include great grandparent, aunt/uncle, niece/nephew, and great grandchild. See: https://www.uab.edu/humanresources/home/ima eg s/M images/Relations/PDFS/FAMILY%20MEMBER%20CHART.pdf (last visited Feb. 11, 2021). 322