Page:United States Statutes at Large Volume 101 Part 3.djvu/317

 PUBLIC LAW 100-233—JAN. 6, 1988

101 STAT. 1615

in any board, commission, independent establishment, or executive department thereof. "(6) BYLAWS.—The Corporation may prescribe, by its Board of Directors, bylaws not inconsistent with law, regulating the manner in which its general business may be conducted, and the privileges granted to it by law may be exercised and enjoyed. "(7) INCIDENTAL POWERS.—The Corporation may exercise by

its Board of Directors, or duly authorized officers or agents, all powers specifically granted by the provisions of this part, and such incidental powers as shall be necessary to carry out the powers so granted. "(8) INFORMATION.—The Corporation may, when necessary. Reports. make examinations of, and require information and reports from, System institutions, as provided in this part. "(9) RECEIVER.—The Corporation may act as receiver. "(10) RULES AND REGULATIONS.—The Corporation may prescribe by its Board of Directors such rules and regulations as it considers necessary to carry out this part (except to the extent that authority to issue such rules and regulations has been expressly and exclusively granted to any other regulatory agency). 'SEC. 5.59. CONDUCT OF CORPORATE INSURED SYSTEM BANKS.

AFFAIRS;

EXAMINATION

OF 12 USC 2277a-

"(a) CONDUCT OF CORPORATE AFFAIRS.—

"(1) FAIR ADMINISTRATION.—The Board of Directors shall administer the affairs of the Corporation fairly and impartially and without discrimination. "(2) OBLIGATIONS AND EXPENSES.—The Board of Directors shall determine and prescribe the manner in which the obligations of the Corporation may be incurred and the expenses of the Corporation may be allowed and paid. "(3) USE OF MAILS.—The Corporation may use the United States mails in the same manner and under the same conditions as the executive departments of the Federal Government. "(4) USE OF INFORMATION.—The Corporation, with the consent of any board, commission, independent establishment, or executive department of the Federal Government, including any field service thereof, may avail itself of the use of information, services, and facilities thereof in carrying out this part. "(b) EXAMINATION OF INSURED SYSTEM BANKS.— "(1) APPOINTMENT OF EXAMINERS.—The Board

of Directors may appoint examiners who may, on behalf of the Corporation, examine any insured System bank, any production credit association, and any System institution in receivership, if in the judgment of the Board of Directors an examination of the institution is necessary. "(2) POWERS AND REPORT.—Each examiner may make a thorough examination of all affairs of the institution, and shall make a full and detailed report of the condition of the institution to the Corporation. "(3) APPOINTMENT OF CLAIM AGENTS.—The Board of Directors, in like manner, shall appoint claim agents who may investigate and examine all claims for insured obligations. "(c) OATH, AFFIRMATIONS, AND TESTIMONY.—In connection with examinations under this section, the Corporation or its designated

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