5 CFR 2634.305 - Liabilities.

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There is 1 rule appearing in the Federal Register for 5 CFR 2634. View below or at eCFR (GPOAccess)
§ 2634.305 Liabilities.
(a) In general. Each financial disclosure report filed pursuant to this subpart shall identify and include a brief description of the filer's liabilities over $10,000 owed to any creditor at any time during the reporting period, and the name of the creditors to whom such liabilities are owed. The report also shall designate the category of value of the liabilities in accordance with § 2634.301(d) of this subpart, using the greatest amount owed to the creditor during the period.
(b) Exceptions. The following are not required to be reported under paragraph (a) of this section:
(1) Personal liabilities owed to a spouse or to the parent, brother, sister, or child of the filer, spouse, or dependent child;
(2) Any mortgage secured by a personal residence of the filer or his spouse;
(3) Any loan secured by a personal motor vehicle, household furniture, or appliances, provided that the loan does not exceed the purchase price of the item which secures it; and
(4) Any revolving charge account with an outstanding liability which does not exceed $10,000 at the close of the reporting period.
Example:
An incumbent official has the following debts outstanding at the end of the calendar year:
1. Mortgage on personal residence—$80,000.
2. Mortgage on rental property—$50,000.
3. VISA Card—$1,000.
4. Master Card—$11,000.
5. Loan balance of $15,000, secured by family automobile purchased for $16,200.
6. Loan balance of $10,500, secured by antique furniture purchased for $8,000.
7. Loan from parents—$20,000.
The loans indicated in items 2, 4, and 6 must be disclosed. Loan 1 is exempt from disclosure under paragraph (b)(2) of this section because it is secured by the personal residence. Loan 3 need not be disclosed under paragraph (b)(4) of this section because it is considered to be a revolving charge account with an outstanding liability that does not exceed $10,000 at the end of the reporting period. Loan 5 need not be disclosed under paragraph (b)(3) of this section because it is secured by a personal motor vehicle which was purchased for more than the value of the loan. Loan 7 need not be disclosed because the creditors are persons specified in paragraph (b)(1) of this section.
[57 FR 11808, Apr. 7, 1992, as amended at 71 FR 28233, May 16, 2006]

Title 5 published on 2014-01-01

The following are only the Rules published in the Federal Register after the published date of Title 5.

For a complete list of all Rules, Proposed Rules, and Notices view the Rulemaking tab.

  • 2014-05-19; vol. 79 # 96 - Monday, May 19, 2014
    1. 79 FR 28605 - Technical Updating Amendments to Executive Branch Financial Disclosure and Standards of Ethical Conduct Regulations
      GPO FDSys XML | Text
      OFFICE OF GOVERNMENT ETHICS
      Final rule; technical amendments.
      The rule is effective May 19, 2014. The amendments to 5 CFR 2634.304 and 2634.907 (as set forth in amendatory paragraphs 2 and 3) are retroactively applicable as of January 1, 2014.
      5 CFR Parts 2634 and 2635

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United States Code
USC: Title 5a

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USC: Title 26a
U.S. Code: Title 28 - JUDICIARY AND JUDICIAL PROCEDURE
Statutes at Large
Presidential Documents

Executive Order ... 12674

Executive Order ... 12731

Title 5 published on 2014-01-01

The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 5 CFR 2634 after this date.

  • 2014-05-19; vol. 79 # 96 - Monday, May 19, 2014
    1. 79 FR 28605 - Technical Updating Amendments to Executive Branch Financial Disclosure and Standards of Ethical Conduct Regulations
      GPO FDSys XML | Text
      OFFICE OF GOVERNMENT ETHICS
      Final rule; technical amendments.
      The rule is effective May 19, 2014. The amendments to 5 CFR 2634.304 and 2634.907 (as set forth in amendatory paragraphs 2 and 3) are retroactively applicable as of January 1, 2014.
      5 CFR Parts 2634 and 2635