[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: 5CFR7501.105]

[Page 877]
 
                    TITLE 5--ADMINISTRATIVE PERSONNEL
 
        CHAPTER LXV--DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
 
PART 7501_SUPPLEMENTAL STANDARDS OF ETHICAL CONDUCT FOR EMPLOYEES OF THE 
 
Sec. 7501.105  Outside employment.

    (a) Prohibited outside employment. Subject to the exceptions set 
forth in paragraph (b) of this section, HUD employees, except special 
Government employees, shall not engage in:
    (1) Employment involving active participation in a business dealing 
with or related to real estate or manufactured housing including but not 
limited to real estate brokerage, management and sales, architecture, 
engineering, mortgage lending, property insurance, appraisal services, 
construction, construction financing, land planning, or real estate 
development;
    (2) Employment with a person, other than a State or local 
government, who engages in lobbying activities concerning Department 
programs or who is required to report expenditures for lobbying 
activities or register as a lobbyist under 42 U.S.C. 3537b or similar 
statutes which require the registration of persons who attempt to 
influence the decisions of officers or employees of the Department;
    (3) Employment as an officer or director of a person who is a 
Department-approved mortgagee, a lending institution or an organization 
which services securities for the Department; or
    (4) Employment with the Federal National Mortgage Association, the 
Federal Home Loan Mortgage Corporation, the Federal Home Loan Bank 
System or any affiliate thereof.
    (b) Exceptions to employment prohibitions. The prohibitions set 
forth in paragraph (a) of this section do not apply to serving as an 
officer or a member of the Board of Directors of:
    (1) A Federal Credit Union;
    (2) A cooperative or condominium association for a housing project 
which is not subject to regulation by the Department or, if so 
regulated, in which the employee personally resides; or
    (3) An entity designated in writing by the Designated Agency Ethics 
Official.
    (c) Prior approval requirement. (1) Employees, except special 
Government employees, shall obtain the prior written approval of an 
Agency Ethics Official before accepting compensated or uncompensated 
employment:
    (i) As an officer, director, trustee, or general partner of, or in 
any other position of authority with, either a for-profit or non profit 
organization which directly or indirectly receives assistance from the 
Department.
    (ii) With a State or local government; or
    (iii) In the same professional field as that of the employee's 
official position.
    (2) Approval shall be granted unless the conduct is inconsisent with 
5 CFR part 2635 or this part.
    (d) Voluntary services. Subject to the restrictions and requirements 
contained in the conflict of interest laws, 5 CFR part 2635, and this 
part, employees are encouraged to volunteer their personal time to 
nonprofit organizations.
    Note to Sec. 7501.105: An employee assigned to serve in an official 
capacity as the Department's liaison representative to an outside 
organization is not engaged in an outside activity to which this section 
applies. Notwithstanding, an employee may be assigned to serve as the 
Department's liaison representative only as authorized by law, and as 
approved by the Department under applicable procedures.