Covered Family Member Policy Term Definition

for purposes of disclosure, a Covered Family Member includes (1) a spouse; (2) a dependent child or stepchild; (3) any other person financially dependent on the Covered Individual; and (4) any other person with whom the Covered Individual has joint financial interests such that an objective third party could reasonably conclude that the Covered Individual’s decisions or other exercise of professional responsibilities at the institution could be influenced by the effect of that action on the person’s financial interest. Any Individual may be identified as a Covered Family Member without regard to whether a legal or biological family relationship exists with the Covered Individual. If the Covered Individual is in doubt, the Covered Individual should resolve the doubt in favor of disclosure. In disclosing financial interests, the interest of any legal entity, including a foundation or a trust that is controlled or directed by the Individual or by the Individual and Covered Family Members is considered to be the interest of the Covered Individual or Covered Family Member as if the separate legal entity did not exist.