40 U.S. Code § 14309 - Personal financial interests
(a) Conflict of Interest.—
(1) No role allowed.— Except as permitted by paragraph (2), an individual who is a state member or alternate, or an officer or employee of the Appalachian Regional Commission, shall not participate personally and substantially as a member, alternate, officer, or employee in any way in any particular matter in which, to the individual’s knowledge, any of the following has a financial interest:
(C) an organization (except a State or political subdivision of a State) in which the individual is serving as an officer, director, trustee, partner, or employee.
(2) Exception.— Paragraph (1) does not apply if the individual first advises the Commission of the nature and circumstances of the particular matter and makes full disclosure of the financial interest and receives in advance a written decision of the Commission that the interest is not so substantial as to be considered likely to affect the integrity of the services which the Commission may expect from the individual.
(b) Additional Sources of Salary Disallowed.—
(1) State member or alternate.— A state member or alternate may not receive any salary, or any contribution to, or supplementation of, salary, for services on the Commission from a source other than the State of the member or alternate.
(2) Individuals detailed to commission.— An individual detailed to serve the Commission under section 14306 (a)(4) of this title may not receive any salary, or any contribution to, or supplementation of, salary, for services on the Commission from a source other than the state, local, or intergovernmental department or agency from which the individual was detailed or from the Commission.
(c) Federal Cochairman, Alternate to Federal Cochairman, and Federal Officers and Employees.— The Federal Cochairman, the alternate to the Federal Cochairman, and any federal officer or employee detailed to duty with the Commission under section 14306 (a)(3) of this title are not subject to this section but remain subject to sections 202–209 of title 18.
(d) Rescission.— The Commission may declare void and rescind any contract, loan, or grant of or by the Commission in relation to which it finds that there has been a violation of subsection (a)(1) or (b) of this section or any of the provisions of sections 202–209 of title 18.
Source(Pub. L. 107–217, Aug. 21, 2002, 116 Stat. 1261.)
|Revised Section||Source (U.S. Code)||Source (Statutes at Large)|
|14309(a)(1)||40 App.:108(a) (1st sentence).||Pub. L. 89–4, title I, § 108, Mar. 9, 1965, 79 Stat. 9.|
|14309(a)(3)||40 App.:108(a) (last sentence).|
In subsection (a), the words “proceeding, application, request for a ruling or other determination, contract, claim, controversy, or other” are omitted as unnecessary.
In subsection (a)(1), before clause (A), the words “in any way” are substituted for “through decision, approval, disapproval, recommendation, the rendering of advice, investigation, or otherwise” to eliminate unnecessary words.
In subsection (a)(3), the words “fined under title 18” are substituted for “fined not more than $10,000” for consistency with chapter 227 of title 18.
In subsection (b)(3), the words “fined under title 18” are substituted for “fined not more than $5,000” for consistency with chapter 227 of title 18.
In subsection (c), the words “Notwithstanding any other subsection of this section” are omitted as unnecessary. The words “this section” are substituted for “any such subsection” to correct an apparent error in the source provision.
In subsection (d), the words “in its discretion” are omitted as unnecessary.