§ 13-11. Exceptions.

A. 

Notwithstanding any provision to the contrary in this chapter, any person serving the Village or any agency thereof without compensation shall not be deemed to be in violation of this chapter unless such interest is in conflict with the proper discharge of his official duties.

B. 

The provisions of this chapter shall not apply to the designation of a bank or trust company as a depository, paying agency, registration agent or other investment in the funds of the Village in which the municipal officer or employee has an interest by reason of stock holdings when less than 5% of the outstanding stock of the corporation is owned or controlled directly or indirectly by such officer or employee, except when the chief fiscal officer or his deputy or employee have an interest in such bank or trust company.

C. 

The provisions of this chapter shall not apply to the designation of a newspaper, including, but not limited to, an official newspaper, for the publication of any notice, resolution, ordinance or other proceeding, where such publication is required or authorized by law.

D. 

No conflict shall be deemed to arise under this chapter by virtue of stock ownership where such ownership constitutes less than 5% of the outstanding stock of the corporation involved.

E. 

Where a member of a body, serving without pay, appointed by the Village Board, enters into contract with the Village for the performance of services or sale of goods or equipment, which contract does not appertain to or involve dealings with the body upon which the said member is serving, the Ethics Board may find that said contract creates only a technical conflict and may advise that such a conflict is not a violation of the Code of Ethics. Before the appointment of a member to a body, the Board of Ethics shall have the duty to give an opinion on the facts to be submitted by the appointing officer with respect to possible conflicts and shall have the discretionary power to hold that a technical conflict of interest does not disqualify a particular person from serving.