"Substantial interest" means:
- ownership by a person, or by any other person's spouse or dependant child, collectively, including ownership as the beneficiary of a trust, of an interest of 10% or more in a business entity.
- annual income, or expected annual income, by the person or by the person's spouse or dependant child, collectively, of more than $10,000 from a business entity other than a publically traded corporation. Annual income includes earned income only if the person, or the person's spouse or dependant child, will receive a bonus, commission, or other payment in any amount directly as a result of a contract with or purchase by the University. Income does not include income from capital gains.
- service by the person or by the person's spouse or dependent child, as an officer, trustee or director of a business entity, except that uncompensated service as a director, officer or trustee of a 'not for profit' corporation is not a substantial interest.