Sec. 123. Prohibition on conflicting pecuniary interests
124 words·~1 min read·
/bill/118/hr/3935/rh/section-123·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 106(e) of title 49, United States Code, is amended to read as follows: The leadership of the Administration and the Management Board of the Administration may not have a pecuniary interest in, or hold a financial interest in, an aeronautical enterprise, or engage in another business, vocation, or employment. Notwithstanding paragraph (1), the Deputy Administrators and the Management Board of the Administration may not receive compensation for teaching without prior approval of the Administrator.
In this subsection, the term financial interest — means— any current or contingent ownership, equity, or security interest; any indebtedness or compensated employment relationship; or any right to purchase or acquire any such interest, including a stock option; and does not include securities held in an index fund. .