(a)(1) The Secretary of the Treasury and the Treasurer may not-
(A) be involved in trade or commerce;
(B) own any part of a vessel (except a pleasure vessel);
(C) buy or hold as a beneficiary in trust public property;
(D) be involved in buying or disposing of obligations of a State or the United States Government; and
(E) personally take or use a benefit gained from conducting business of the Department of the Treasury except as authorized by law.
(2) An officer violating this subsection shall be fined $3,000, removed from office, and thereafter may not hold an office of the Government.
(3) An individual (except prosecutors) giving information leading to the prosecution and conviction of an individual violating this subsection shall receive $1,500 of the fine when paid.
(b)(1) An officer or employee of the Department (except the Secretary or Treasurer) may not-
(A) carry on a trade or business in the funds, debts, or property of a State or the Government; and
(B) personally use a benefit gained from conducting business of the Department.
(2) An officer or employee violating this subsection shall be fined $500 and removed from office.
(
| Revised Section | Source (U.S. Code | Source (Statutes at Large) |
|---|---|---|
| 329(a) | 31:163, 1003. | R.S. §243. |
| 329(b) | 31:1018. | R.S. §244. |
In subsection (a)(1), before clause (A), the words "The Secretary of the Treasury and the Treasurer may not" are substituted for "No person appointed to the office of Secretary of the Treasury, or Treasurer, shall" because of the restatement and for consistency in the revised title. The words "or First Comptroller" (subsequently redesignated as the Comptroller of the Treasury by section 4 of the Act of July 31, 1894 (ch. 174,
In subsection (a)(2), the words "an officer" are substituted for "every person" as being more precise. The word "violating" is substituted for "who offends against any of the prohibitions of this section" for clarity and to eliminate unnecessary words. The words "shall be deemed guilty of a high misdemeanor" are omitted because of 18:1. The word "fined" is substituted for "forfeit to the United States the penalty" for consistency and to eliminate unnecessary words. The words "and shall upon conviction be" are omitted as unnecessary.
In subsection (a)(3), the words "giving information leading to the prosecution and conviction of an individual violating this subsection" are substituted for "shall give information of any such offense, upon which a prosecution and conviction shall be had" for clarity. The words "shall receive $1,500 of the fine when paid" are substituted for "one-half the aforesaid penalty of three thousand dollars, when recovered, shall be for the use of the person giving such information" to eliminate unnecessary words.
In subsection (b)(1), before clause (A), the words "An officer or employee of the Department (except the Secretary or Treasurer)" are substituted for "Every clerk employed in the Treasury Department" because of the restatement and for consistency with subsection (a) of the section. In clause (A), the words "in any kind of public" are omitted as unnecessary. In clause (B), the words "personally use a benefit gained" are substituted for "who takes or applies to his own use any emolument or gain" to eliminate unnecessary words. The word "conducting" is substituted for "negotiating or transacting" for consistency. The words "shall be deemed guilty of a misdemeanor" are omitted because of 18:1.
In subsection (b)(2), the words "An officer or employee violating this subsection" are added because of the restatement. The word "punished" is omitted as unnecessary.