[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: 5CFR4001.108]

[Page 735]
 
                    TITLE 5--ADMINISTRATIVE PERSONNEL
 
          CHAPTER XXX--FARM CREDIT SYSTEM INSURANCE CORPORATION
 
PART 4001_SUPPLEMENTAL STANDARDS OF ETHICAL CONDUCT FOR EMPLOYEES OF THE FARM 
 
Sec. 4001.108  Outside employment and business activity.

    (a) Prohibition. No covered employee shall perform services, either 
on a paid or unpaid basis, for any System institution or related entity, 
or any officer, director, employee, or person connected with a System 
institution or related entity. Nothing in this section would prohibit 
covered employees from providing any service that is a part of their 
official duties.
    (b) General requirement for prior approval. All employees shall 
obtain prior written approval before engaging in any outside employment 
or business activity, with or without compensation, unless the outside 
activity is exempt from the definition of ``employment'' as set forth in 
paragraph (c) of this section. An employee proposing to engage in 
outside employment and business activities is required, prior to 
commencement, to send a written notice of the proposed employment or 
activity to the DAEO on a form prescribed by the DAEO. Approval shall be 
granted only upon a determination that the employment or activity is not 
expected to involve conduct prohibited by statute, part 2635 of this 
title, or paragraph (a) of this section.
    (c) Definition. For purposes of this section, ``employment'' means 
any form of non-Federal employment, business relationship or activity 
involving the provision of personal services by the employee, whether or 
not for compensation. It includes, but is not limited to, personal 
services as an officer, director, employee, agent, attorney, consultant, 
contractor, general partner, trustee, teacher, or speaker. It includes 
writing when done under an arrangement with another person for 
production or publication of the written product. It does not, however, 
include participation in the activities of a nonprofit charitable, 
religious, professional, social, fraternal, educational, recreational, 
public service, or civic organization for which no compensation is 
received other than reimbursement for necessary expenses.