31 U.S.C. § 329 — Limitations on outside activities
submitted 44 years ago by Pub. L. 97-258 to r/title-31-MONEY-AND-FINANCE · 195 words · no verdicts yet
The Treasury Secretary and Treasurer face strict limits on outside business. They can't trade, own vessels, hold public property, or profit from Treasury business. Violating this means a $3,000 fine and permanent removal from federal office.
(a)
(1) The Secretary of the Treasury and the Treasurer of the United States cannot: (A) be involved in trade or commerce; (B) own any part of a vessel, except a pleasure vessel; (C) buy or hold public property as a trustee; (D) buy or sell debts ("obligations") issued by a state or by the U.S. government; or (E) personally take or use any benefit gained from doing Treasury Department business, unless the law specifically allows it.
(2) An officer who breaks this rule must be fined $3,000, removed from office, and can never again hold a federal office.
(3) Anyone (other than a prosecutor) who provides information that leads to prosecuting and convicting someone for breaking this rule gets $1,500 of the fine once it's paid.
(b)
(1) Any other Treasury Department officer or employee — besides the Secretary or Treasurer — cannot: (A) trade or do business in the funds, debts, or property of a state or the federal government; or (B) personally use any benefit gained from doing Department business.
(2) An officer or employee who breaks this rule must be fined $500 and removed from office.
The Secretary of the Treasury and the Treasurer may not—
be involved in trade or commerce;
own any part of a vessel (except a pleasure vessel);
buy or hold as a beneficiary in trust public property;
be involved in buying or disposing of obligations of a State or the United States Government; and
personally take or use a benefit gained from conducting business of the Department of the Treasury except as authorized by law.
An officer violating this subsection shall be fined $3,000, removed from office, and thereafter may not hold an office of the Government.
An individual (except prosecutors) giving information leading to the prosecution and conviction of an individual violating this subsection shall receive $1,500 of the fine when paid.
An officer or employee of the Department (except the Secretary or Treasurer) may not—
carry on a trade or business in the funds, debts, or property of a State or the Government; and
personally use a benefit gained from conducting business of the Department.
An officer or employee violating this subsection shall be fined $500 and removed from office.
Source credit: (Pub. L. 97–258, Sept. 13, 1982, 96 Stat. 884.)
- 1982Enacted · Pub. L. 97-258 · 96 Stat. 884
A history note hasn’t been published yet. The record shows enactment by Pub. L. 97-258 on 1982-09-13.
all 0 arguments · sorted by: best
no arguments yet — make the first case