(a) No officer or employee of the Local may have (1) a personal financial interest which conflicts substantially with the performance of his or her duties; or (2) has a substantial interest in any business enterprise with which the Local bargains collectively, or which is in competition with such enterprise; or (3) has a substantial interest in an enterprise a substantial part of which consists of buying from, selling to, or otherwise dealing with an employer with whom the Local bargains collectively.

(b) No officer or employee of the Local may accept rewards or payments of any kind from an employer with which the Local bargains collectively other than regular pay or benefits for work performed as an employee of such an employer.