"Substantial interest" means:
  1. 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.
  2. 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.
  3. 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.
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