Prohibitions on Presidential business activity

(a) Prohibition (1) In general Subchapter III of chapter 131 of title 5, United States Code, is amended by inserting at the end the following: 13147. Prohibitions on business activities of President and Vice President (a) Ownership prohibition The President and Vice President— (1) may not hold a financial interest in any firm, partnership, association, corporation, or other for-profit entity; and (2) shall divest, not later than 30 days after assuming office, of any such interest by converting any such interest into cash. (b) Name and likeness prohibition The President or Vice President, and the spouse or any dependent child of the President or Vice president, may not— (1) use the President’s or Vice President’s name or likeness for profit; or (2) permit the use of the President’s or Vice President’s name or likeness by any firm, partnership, association, corporation, or other for-profit entity. (c) Decision-Making prohibition The President and Vice President may not serve as an officer, board member, or in any other role which holds decision-making power at any firm, partnership, association, corporation, or other for-profit entity. (d) Exclusion This section shall not apply to any financial interest held in a retirement account, including any Federal, State, or local government employee retirement plan.. (2) Clerical amendment The table of sections of such chapter is amended by inserting after the item relating to section 13146 the following: 13147. Prohibitions on business activities of President and Vice President.. (b) Civil penalties Section 13145 of title 5, United States Code, is amended by striking section 13143 or 13144 and inserting section 13143, 13144, or 13147.