The board has a policy addressing conflict of interest.

The LSU Board of Supervisors is the governing body responsible for
all the campuses that comprise the Louisiana State University System.
While the Bylaws & Regulations of the Board of Supervisors of the
LSU System do not include an explicit conflict of interest policy, the
Board does follow established policies that fully cover potential
conflicts of interest. All members of the Board are appointed Officers
of the State of Louisiana. As such, they are subject to the laws of the
State as defined by the Louisiana Constitution of 1974 (Article X:
Public Officials and Employees) [1] , and the Code of Governmental Ethics [2]
, which govern their conduct and responsibilities. The creation of an
additional policy specifically for the Bylaws & Regulations was
believed by the Board to be preempted by state law and redundant.
Documentation [1] Louisiana State Constitution (1974) - Article X (External Link)

[2] Code of Governmental Ethics (External Link)

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