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        <ExplanationTxt>The Telluride Theatre Approved and Ratified a new Code of Conduct on 2/13/2013. Each director is required to sign an Annual Compliance Statement to the Conflict of Interest Policy, provide a Disclosure of Conflict of Interest and an Acknowledgement of the Code of Conduct Policy. Note that some Directors also perform in the Theatre and receive compensation for their performances separate from their service as Board Members, a situation which is addressed in the Code of Conduct Policy.</ExplanationTxt>
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