Page:United States Statutes at Large Volume 101 Part 1.djvu/626

 101 STAT. 596

PUBLIC LAW 100-86—AUG. 10, 1987

3Jli:>

Reports.



Post, p. 603. .AD

OJ

"(C) CHAIRPERSON.—The member appointed under subparagraph (A)(i) shall be the chairperson of the Committee. "(D) VACANCIES.—Any vacancy on the Committee shall be filled in the manner in which the original appointment was made. "(E) PAY AND EXPENSES.—Members of the Committee shall serve without pay but each member of the Committee shall be reimbursed, in such manner as the Board may prescribe by regulation, by the Federal Home Loan Bank which elected such member (and, in the case of the member appointed by the Chairman of the Board, by the Board) for expenses incurred in connection with attendance of such members at meetings of the Committee. "(F) MEETINGS.—The Committee shall meet from time to time at the call of the chairperson or a majority of the members. "(3) DUTIES OF THE COMMITTEE.—The duties of the Committee

are as follows: "(A) To review the reports and budgets prepared pursuant to section 402(k) of the National Housing Act and any other matter which the Board may present for the Committee's consideration. "(B) To confer with the Board on the reports, budgets, and other matters reviewed under subparagraph (A). "(C) To prepare written comments and recommendations for the Board and the Federal Savings and Loan Insurance Corporation with respect to the reports, budgets, and other matters reviewed under subparagraph (A) (which shall be submitted to the Board in a timely manner after each meeting). "(4) ANNUAL REPORT.—

"(A) REQUIRED.—Not later than January 15 of each year, the Committee shall submit a report to the Committee on i'Ci Banking, Finance and Urban Affairs of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate. "(B) (CONTENTS.—The report required under subparagraph (A) shall describe the activities of the Committee during the preceding year and the reports and rec„ ommendations made by the Committee to the Board and '^ the Federal Savings and Loan Insurance Corporation during such year. "(5) REGULATIONS.—The Board shall prescribe such regulations as the Board determines to be appropriate to avoid conflicts of interest with respect to the disclosure to and use by members of the Committee of information relating to the Board, the Federal Savings and Loan Insurance Corporation, the Federal Home Loan Banks, and the Federal Asset Disposition Association. "(6) FEDERAL ADVISORY COMMITTEE ACT DOES NOT APPLY.—The 5 USC app.

Federal Advisory Committee Act shall not apply to the Committee. "(7) TERMINATION.—The Committee shall terminate when the Financing Corporation terminates under subsection (j). "(j) TERMINATION OF THE FINANCING CORPORATION.—

�