According to the Colorado Revised Statutes 24-18-105, the following ethical principles for school board members "are intended as guides to conduct and do not constitute violations as such of the public trust of office..."
- A board member "should not acquire or hold an interest in any business or undertaking which he has reason to believe may be directly and substantially affected to its economic benefit by official action to be taken by an agency over which he has substantive authority."
- A board member "should not, within six months following the termination of his office..., obtain employment in which he will take direct advantage, unavailable to others, of matters with which he was directly involved during his term of [office]. These matters include rules, other than rules of general application, which he actively helped to formulate and applications, claims or contested cases in the consideration of which he was an active participant."
- A board member "should not perform an official act directly and substantially affecting a business or other undertaking to its economic detriment when he has a substantial financial interest in a competing firm or undertaking."