38 U.S.C. § 3683 — Conflicting interests

(a) Department^* Officers and Employees .— (1) An officer or employee of the Department must receive corrective action or disciplinary action if the officer or employee— (A) has, while serving as the an officer or employee, owned any interest in, or received any wage, salary, dividend, profit, or gift from, any educational institution operated for profit; or (B) has, while serving as a covered officer or employee of the Department, received any service from any educational institution operated for profit. (2) In this subsection, the term “covered officer or employee of the Department” means an officer or employee of the Department who— (A) works on the administration of benefits under chapter 30, 31, 32, 33, 34, 35, or 36 of this title; or (B) has a potential conflict of interest involving an educational institution operated for profit, as determined by the Secretary^*. (b) State^* Approving Agency Employees .— If the Secretary finds that any person who is an officer or employee of a State approving agency has, while the person was the an officer or employee, owned any interest in, or received any wage, salary, dividend, profit, or gift from, an educational institution operated for profit, the Secretary must discontinue making payments under section 3674 of this title to the State approving agency unless the agency must, without delay, take the steps as may be necessary to provide corrective action or disciplinary action about the person and the payments must not be resumed until the completion of the corrective action or disciplinary action. (c) Disapproval of Courses .— A State approving agency must not approve any course offered by an educational institution operated for profit, and, if any the course has been approved, must disapprove each the course, if it finds that any officer or employee of the Department or the State approving agency owns an interest in, or receives any wage, salary, dividend, profit, or gift from, the institution. (d) Waiver Authority .— (1) The Secretary may waive in writing the application of this section in the case of any officer or employee of the Department or of a State approving agency, if the Secretary finds that no detriment will result to the United States or to eligible persons or veterans by reasons of the interest or connection of the officer or employee. (2) The Secretary must provide public notice of any waiver granted under this subsection by not later than 30 days after the date on which the waiver is granted.