
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 31USC329]

 
                       TITLE 31--MONEY AND FINANCE
 
                           SUBTITLE I--GENERAL
 
                  CHAPTER 3--DEPARTMENT OF THE TREASURY
 
                      SUBCHAPTER II--ADMINISTRATIVE
 
Sec. 329. Limitations on outside activities

    (a)(1) The Secretary of the Treasury and the Treasurer may not--
        (A) be involved in trade or commerce;
        (B) own any part of a vessel (except a pleasure vessel);
        (C) buy or hold as a beneficiary in trust public property;
        (D) be involved in buying or disposing of obligations of a State 
    or the United States Government; and
        (E) personally take or use a benefit gained from conducting 
    business of the Department of the Treasury except as authorized by 
    law.

    (2) An officer violating this subsection shall be fined $3,000, 
removed from office, and thereafter may not hold an office of the 
Government.
    (3) 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.
    (b)(1) An officer or employee of the Department (except the 
Secretary or Treasurer) may not--
        (A) carry on a trade or business in the funds, debts, or 
    property of a State or the Government; and
        (B) personally use a benefit gained from conducting business of 
    the Department.

    (2) An officer or employee violating this subsection shall be fined 
$500 and removed from office.

(Pub. L. 97-258, Sept. 13, 1982, 96 Stat. 884.)

                                          Historical and Revision Notes
-------------------------------------------------------------------------------
---------------------------------
           Revised Section                    Source (U.S. Code                
Source (Statutes at Large)
-------------------------------------------------------------------------------
---------------------------------
329(a)...............................  31:163, 1003.                   R.S. Sec
.  243.
329(b)...............................  31:1018.                        R.S. Sec
.  244.
-------------------------------------------------------------------------------
---------------------------------

    In subsection (a)(1), before clause (A), the words ``The Secretary 
of the Treasury and the Treasurer may not'' are substituted for ``No 
person appointed to the office of Secretary of the Treasury, or 
Treasurer, shall'' because of the restatement and for consistency in the 
revised title. The words ``or First Comptroller'' (subsequently 
redesignated as the Comptroller of the Treasury by section 4 of the Act 
of July 31, 1894 (ch. 174, 28 Stat. 205)) and ``or First Auditor'' in 
section 243 of the Revised Statutes are omitted because the positions 
were abolished by sections 301 and 310 of the Act of June 10, 1921 (ch. 
18, 42 Stat. 23, 25). The text of 31:163 is omitted because the position 
of Register was abolished by section 1(a) of Reorganization Plan No. 3 
of 1940 (eff. June 30, 1940, 54 Stat. 1231). In clause (A), the words 
``directly or indirectly'' are omitted as unnecessary. The words ``be 
involved'' are substituted for ``be concerned or interested in carrying 
on the business of'' to eliminate unnecessary words. In clause (B), the 
words ``any part of a'' are substituted for ``in whole or in part'' for 
consistency. The words ``(except a pleasure vessel)'' are added for 
consistency with 19:1599. In clause (C), the words ``buy or hold as 
beneficiary in trust'' are substituted for ``purchase by himself, or 
another in trust for him'' for clarity and consistency. The words 
``public land'' are omitted as being included in ``public property''. In 
clause (D), the words ``involved in buying or disposing of obligations'' 
are substituted for ``be concerned in the purchase or disposal of any 
public securities'' to eliminate unnecessary words and for consistency 
in the revised title. In clause (E), the words ``personally take or use 
a benefit gained from conducting business of the Department of the 
Treasury'' are substituted for ``take or apply to his own use any 
emolument or gain for negotiating or transacting any business in the 
Treasury Department'' to eliminate unnecessary words.
    In subsection (a)(2), the words ``an officer'' are substituted for 
``every person'' as being more precise. The word ``violating'' is 
substituted for ``who offends against any of the prohibitions of this 
section'' for clarity and to eliminate unnecessary words. The words 
``shall be deemed guilty of a high misdemeanor'' are omitted because of 
18:1. The word ``fined'' is substituted for ``forfeit to the United 
States the penalty'' for consistency and to eliminate unnecessary words. 
The words ``and shall upon conviction be'' are omitted as unnecessary.
    In subsection (a)(3), the words ``giving information leading to the 
prosecution and conviction of an individual violating this subsection'' 
are substituted for ``shall give information of any such offense, upon 
which a prosecution and conviction shall be had'' for clarity. The words 
``shall receive $1,500 of the fine when paid'' are substituted for 
``one-half the aforesaid penalty of three thousand dollars, when 
recovered, shall be for the use of the person giving such information'' 
to eliminate unnecessary words.
    In subsection (b)(1), before clause (A), the words ``An officer or 
employee of the Department (except the Secretary or Treasurer)'' are 
substituted for ``Every clerk employed in the Treasury Department'' 
because of the restatement and for consistency with subsection (a) of 
the section. In clause (A), the words ``in any kind of public'' are 
omitted as unnecessary. In clause (B), the words ``personally use a 
benefit gained'' are substituted for ``who takes or applies to his own 
use any emolument or gain'' to eliminate unnecessary words. The word 
``conducting'' is substituted for ``negotiating or transacting'' for 
consistency. The words ``shall be deemed guilty of a misdemeanor'' are 
omitted because of 18:1.
    In subsection (b)(2), the words ``An officer or employee violating 
this subsection'' are added because of the restatement. The word 
``punished'' is omitted as unnecessary.
