36 U.S.C. § 220507 — Restrictions

FEDERAL · 36 U.S.C. · Chapter 2205

Restrictions

Current through Pub. L. 119-102

Title 36 — Patriotic and National Observances·Ch. 2205 — UNITED STATES OLYMPIC AND PARALYMPIC COMMITTEE·Subch. I

(a)Profit and Stock.—The corporation may not engage in business for profit or issue stock.

(b)Political Activities.—The corporation shall be nonpolitical and may not promote the candidacy of an individual seeking public office.

(c)Policy With Respect to Assisting Members or Former Members in Obtaining Jobs.—The corporation shall develop 1 or more policies that prohibit any individual who is an employee, contractor, or agent of the corporation from assisting a member or former member in obtaining a new job (except the routine transmission of administrative and personnel files) if the individual knows that such member or former member violated the policies or procedures of the Center related to sexual misconduct or was convicted of a crime involving sexual misconduct with a minor in viola

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(a) Profit and Stock.—The corporation may not engage in business for profit or issue stock.
(b) Political Activities.—The corporation shall be nonpolitical and may not promote the candidacy of an individual seeking public office.
(c) Policy With Respect to Assisting Members or Former Members in Obtaining Jobs.—The corporation shall develop 1 or more policies that prohibit any individual who is an employee, contractor, or agent of the corporation from assisting a member or former member in obtaining a new job (except the routine transmission of administrative and personnel files) if the individual knows that such member or former member violated the policies or procedures of the Center related to sexual misconduct or was convicted of a crime involving sexual misconduct with a minor in violation of applicable law.
(d) Policy Regarding Terms and Conditions of Employment.—The corporation shall establish a policy—
(1) not to disperse bonus or severance pay to any individual named as a subject of an ethics investigation by the ethics committee of the corporation, until such individual is cleared of wrongdoing by such investigation; and
(2) that provides that—
(A) if the ethics committee determines that an individual has violated the policies of the corporation—
(i) the individual is no longer entitled to bonus or severance pay previously withheld; and
(ii) the compensation committee of the corporation may reduce or cancel the withheld bonus or severance pay; and
(B) in the case of an individual who is the subject of a criminal investigation, the ethics committee shall investigate the individual.

36 U.S.C. § 220507 (Restrictions) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Source Credit

History

(Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1470; Pub. L. 116–189, §6(d)(1), (2)(A), Oct. 30, 2020, 134 Stat. 949.)

Editorial Notes

In subsection (a), the words "may not" are substituted for "shall have no power to" for consistency in the revised title. The words "capital", "pecuniary", and "or gain" are omitted as unnecessary.
In subsection (b), the words "as an organization" are omitted as unnecessary.

Editorial Notes

Amendments
2020—Subsec. (c). Pub. L. 116–189, §6(d)(1), added subsec. (c).
Subsec. (d). Pub. L. 116–189, §6(d)(2)(A), added subsec. (d).

Statutory Notes and Related Subsidiaries

Applicability
Pub. L. 116–189, §6(d)(2)(B), Oct. 30, 2020, 134 Stat. 950, provided that: "The amendment made by subparagraph (A) [amending this section] shall not apply to any term of employment for the disbursement of bonus or severance pay that is in effect as of the day before the date of the enactment of this Act [Oct. 30, 2020]."