[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: 5CFR4101.105]

[Page 740]
 
                    TITLE 5--ADMINISTRATIVE PERSONNEL
 
                CHAPTER XXXI--FARM CREDIT ADMINISTRATION
 
PART 4101_SUPPLEMENTAL STANDARDS OF ETHICAL CONDUCT FOR EMPLOYEES OF THE FARM 
 
Sec. 4101.105  Purchase of System institution assets.

    (a) Prohibition on purchasing assets owned by a System institution. 
No covered employee, or spouse or minor child of a covered employee, 
shall purchase, directly or indirectly, an asset (such as real property, 
vehicles, furniture, or similar items) from a System institution or 
related entity, unless it is sold at a public auction or by other means 
which assure that the selling price is the asset's fair market value. A 
covered employee shall obtain concurrence from the DAEO about whether a 
proposed purchase of a System institution asset is proper.
    (b) Assets held or managed by the Farm Credit System Insurance 
Corporation or a receiver or conservator--(1) Prohibition on purchase. 
No covered employee, or spouse or minor child of a covered employee, 
shall purchase, directly or indirectly, an asset (such as real property, 
vehicles, furniture, or similar items) that is held or managed by a 
receiver or conservator for a System institution or that is held by the 
Farm Credit System Insurance Corporation (Corporation) as a result of 
its provision of open bank assistance to troubled System banks 
regardless of how the asset is sold.
    (2) Disqualification. A covered employee who is involved in the 
disposition of receivership or conservatorship assets, or assets 
acquired by the Corporation as a result of its provision of open bank 
assistance to troubled System banks, shall disqualify himself or herself 
from participation in the disposition of such assets when the employee 
becomes aware that anyone with whom the employee has a covered 
relationship, as defined in Sec. 2635.502(b)(1) of the Executive 
Branch-wide Standards, is or will be attempting to acquire such assets. 
The employee shall provide written notification of the disqualification 
to his or her immediate supervisor, the ethics liaison in his or her 
office, and the DAEO.

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