Page:United States Statutes at Large Volume 101 Part 3.djvu/316

 101 STAT. 1614

PUBLIC LAW 100-233—JAN. 6, 1988 "(2) ENFORCEMENT.—The Corporation may bring an action to enforce this subsection against any such bank in any court of competent jurisdiction for the judicial district in which the bank is located. "(3) LIABILITY OF DIRECTORS.—Every director who participated in or assented to a failure (described in paragraph (1)) shall be held personally liable for all consequential damages. "(d) EFFECT ON OTHER REMEDIES.—The remedies provided in

subsections (b) and (c) shall not be construed as limiting any other remedies against any insured System bank, but shall be in addition thereto. 12 USC 2277a-7.

"SEC. 5.58. GENERAL CORPORATE POWERS.

"On the date of the e n a c t m e n t of this part, the Corporation shall become a body corporate and a s such shall have the following powers: "(1) SEAL.—The Corporation may adopt and u s e a corporate seal. "(2) SUCCESSION.—The Corporation may have succession until dissolved by a n Act of Congress. "(3) CONTRACTS.—The Corporation may m a k e contracts. "(4) L E G A L ACTIONS.—

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"(A) IN GENERAL.—The Corporation may sue and be sued, complain and defend, in any court of law or equity, State or Federal. "(B) JURISDICTION.—All suits of a civil nature at common law or in equity to which the Corporation shall be a party shall be deemed to arise under the laws of the United States, and the United States district courts shall have original jurisdiction thereof, without regard to the amount in controversy, and the Corporation, without bond or security, may remove any such action, suit, or proceeding from a State court to the United States district court for the district or division embracing the place where the same is pending by following any procedure for removal then in effect. "(C) ATTACHMENT AND EXECUTION.—No attachment or execution may be issued against the Corporation or its property before final judgment in any suit, action, or proceeding in any State, county, municipal, or United States court. "(D) AGENT FOR SERVICE OF PROCESS.—The Board of Directors shall designate an agent on whom service of process may be made in any State or jurisdiction in which any insured System bank is located. "(5) OFFICERS AND EMPLOYEES.—

"(A) IN GENERAL.—The Corporation may appoint by its Board of Directors such officers and employees as are not otherwise provided for in this part, to define their duties, fix their compensation, and require bonds of them and fix the penalty thereof, and to dismiss at pleasure such officers or employees. "(B) EMPLOYEES OF THE UNITED STATES.—Nothing in this or any other Act shall be construed to prevent the appointment and compensation, as an officer or employee of the Corporation, of any officer or employee of the United States

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