[Code of Federal Regulations]
[Title 5, Volume 3]
[Revised as of January 1, 2008]
From the U.S. Government Printing Office via GPO Access
[CITE: 5CFR4001.104]

[Page 734]
 
                    TITLE 5--ADMINISTRATIVE PERSONNEL
 
          CHAPTER XXX--FARM CREDIT SYSTEM INSURANCE CORPORATION
 
PART 4001_SUPPLEMENTAL STANDARDS OF ETHICAL CONDUCT FOR EMPLOYEES OF THE FARM 
 
Sec. 4001.104  Prohibited borrowing.

    (a) Prohibition on employee borrowing. Except as provided in 
paragraph (b) of this section, no covered employee, or spouse or minor 
child of a covered employee, shall seek or obtain any loan or extension 
of credit from a System institution or from an officer, director, 
employee, or related entity of a System institution.
    (b) Exception. This section does not prohibit a covered employee, or 
spouse or minor child of a covered employee, from retaining a loan from 
a System institution on its original terms if the loan was obtained 
prior to appointment to a covered employee position. For loans retained 
pursuant to this paragraph, a covered employee shall submit to his or 
her immediate supervisor, the ethics liaison in his or her office, and 
the DAEO, a written disqualification from examining, auditing, visiting, 
reviewing, investigating, or otherwise participating in the regulation 
or supervision of the System institution that is providing the retained 
credit. Written disqualification shall be made within 30 days of 
appointment to a covered employee position on a form prescribed by the 
DAEO. Any renewal or renegotiation of a pre-existing loan or extension 
of credit will be treated as a new loan subject to the prohibition in 
paragraph (a) of this section.