§ 3024. Conflict of interest rules; adoption and publication; requirements

Legislative history

Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.

1. 1978

   National Consumer Cooperative Bank Act

   Pub. L. 95–351 title I § 114 · 92 Stat. 499

   Enacted · 12 U.S.C. § 3024

   Pub. L. 95–351, title I, § 114, Aug. 20, 1978, 92 Stat. 510

   Source evidence

   Code source credit
   Pub. L. 95–351, title I, § 114, Aug. 20, 1978, 92 Stat. 510

   Enacted provision · exact public law section
   Sec. 114. conflict of interest The Board of Directors shall adopt and publish its own 12 USC 3024. 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 18 USC 201 note. 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 Act. These rules shall require— (1) each nominee for elected membership on the Board established under this Act 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 (2) each senior executive officer and appointed member of the Board to file with the appointing officer, before entering that office a statement of his financial interest and position, if any, in such organizations, which shall be available for inspection upon request. The provisions of this section shall remain in effect until the Final Government Equity Redemption Date.

2. 1981

   Pub. L. 97–35 title III § 396(f) · 95 Stat. 357

   Struck · 12 U.S.C. § 3024

   Pub. L. 97–35 struck out provisions authorizing section to remain in effect until the Final Government Equity Redemption Date

   Source evidence

   Code amendment note
   Pub. L. 97–35 struck out provisions authorizing section to remain in effect until the Final Government Equity Redemption Date.

   Enacted provision · exact public law section
   (f) The last sentence of section 114 of such Act (12 U.S.C. 3024) is hereby repealed.

   Effective date note
   Amendment by Pub. L. 97–35 effective on the day after the Final Government Equity Redemption Date (Dec. 31, 1981), see section 396(i) of Pub. L. 97–35, set out as a note under section 3011 of this title.

2 of 2 references resolved to an enrolled provision