---
type: "LegalText"
title: "12 U.S.C. § 4523"
description: "Limitation on subsequent employment"
jurisdiction: "us"
corpus: "united_states_code"
kind: "code_section"
title_number: 12
title_name: "BANKS AND BANKING"
chapter_number: "46"
chapter_name: "GOVERNMENT SPONSORED ENTERPRISES"
section: "4523"
citation: "12 U.S.C. § 4523"
status: "current"
release_point: "119-100"
release_date: "2026-06-26"
source: "official"
source_url: "https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc12@119-100.zip"
source_identifier: "/us/usc/t12/s4523"
source_file: "data/legal/raw/us/code/title-12/usc12.xml"
source_hash: "a7857fef83236de10c6d03f5807085bdcb2a74b354cf93c43f226b7a9919739f"
raw_snapshot_hash: "e6b98700ef4156ac33fde5d105824845d727afa91a53f3762be2cf4d1a3b01fa"
text_hash: "075721024ce39d404955e522736c2c1cce8572beb686bfd43c31a11bac288b8c"
retrieved_at: "2026-07-04"
confidence: "official"
tags: ["legal", "us-code"]
---

# 12 U.S.C. § 4523 - Limitation on subsequent employment

## Text

Neither the Director nor any former officer or employee of the Agency who, while employed by the Agency, was compensated at a rate in excess of the lowest rate for a position classified higher than GS–15 of the General Schedule under section 5107 of title 5 may accept compensation from an enterprise during the 2-year period beginning on the date of separation from employment by the Agency.

(Pub. L. 102–550, title XIII, § 1319D, Oct. 28, 1992, 106 Stat. 3951; Pub. L. 110–289, div. A, title I, § 1161(a)(5), July 30, 2008, 122 Stat. 2779.)

## Notes

Editorial Notes

Amendments2008—Pub. L. 110–289 substituted “the Agency” for “the Office” wherever appearing.