ENTERPRISE FUND RESTRICTIONS

ENTERPRISE FUND RESTRICTIONS Sec. 588. Section 201(1) of the Support for East European Democracy Act (22 U.S.C. 5421(1)) is amended to read as follows: “(l) Limitation on Payments to Enterprise Fund Personnel.— “(1) No part of the funds of an Enterprise Fund shall inure to the benefit of any board member, officer, or employee of such Enterprise Fund, except as salary or reasonable compensation for services subject to paragraph (2). “(2) An Enterprise Fund shall not pay compensation for services to— “(A) any board member of the Enterprise Fund, except for services as a board member; or “(B) any firm, association, or entity in which a board member of the Enterprise Fund serves as partner, director, officer, or employee. “(3) Nothing in paragraph (2) shall preclude payment for services performed before the date of enactment of this subsection nor for arrangements approved by the grantor and notified in writing to the Committees on Appropriations.”.