; (2) in the case of any investment by a foreign state or entity in an asset held in a blind trust on behalf of a covered person; or (3) in any case in which the covered person acted in accordance with section 7342 of title 5 or the Mutual Education and Cultural Exchange Act of 1961 ( 22 U.S.C. 2451 et seq.). (c) Definitions In this section: (1) The term covered person means the President, Vice President, and their immediate family members. (2) The term covered entity means any entity in which a covered person has not less than a 50 percent ownership interest. (3) The term immediate family member means, with respect to the President or Vice President, a parent, parent-in-law, spouse, child, or sibling of the President or Vice President. (4) The term foreign entity means any entity in which a foreign state has not less than a 50 percent ownership interest. . (b) Clerical amendment The table of sections for chapter 11 of title 18, United States Code, is amended by inserting after the item related to section 227 the following: 227A. Foreign influence over the President and Vice President. . 3. Receipt and disposition of foreign gifts and decorations Section 7342(a)(1) of title 5, United States Code, is amended— (1) in subparagraph (F), by striking and at the end; (2) in subparagraph (G), by striking the period at the end; and (3) by inserting after subparagraph (G) the following: (H) a parent, parent-in-law, child, or sibling of the President or Vice President. .