12 U.S. Code § 3024 - Conflict of interest rules; adoption and publication; requirements
The Board of Directors shall adopt and publish its own conflict of interest rules which shall be no less stringent in effect than the Federal Executive conflict of interest rules contained in Executive Order Numbered 11222 in prohibiting participation or action or the use of inside information for personal advantage on any matter involving a corporation, trust, partnership, or cooperative organization in which a board member, officer, or employee holds a substantial financial interest or holds a position as board member or senior officer, the activities of which organization might be relevant to, be competitive with, or be inconsistent with the objectives of any bank created under this chapter. These rules shall require—
(1) each nominee for elected membership on the Board established under this chapter to make public and file with the election official before the date of election a statement of his financial interest and position, if any, in such organizations; and
Source(Pub. L. 95–351, title I, § 114,Aug. 20, 1978, 92 Stat. 510; Pub. L. 97–35, title III, § 396(f),Aug. 13, 1981, 95 Stat. 440.)
References in Text
Executive Order Numbered 11222, referred to in text, which was formerly set out as a note under section 201 of Title 18, Crimes and Criminal Procedure, was revoked by Ex. Ord. No. 12674, § 501(a), Apr. 12, 1989, 54 F.R. 15161.
1981—Pub. L. 97–35struck out provisions authorizing section to remain in effect until the Final Government Equity Redemption Date.
Effective Date of 1981 Amendment
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