Page:United States Statutes at Large Volume 103 Part 1.djvu/395

 PUBLIC LAW 101-73—AUG. 9, 1989 103 STAT. 367 "(B) FEDERAL DEPOSIT INSURANCE CORPORATION. — Nothing contained in this section shall give the Oversight Board authority over the activities, powers, or functions of the Federal Deposit Insurance Corporation except to the extent provided in this section and only with respect to the activi- ties of the Federal Deposit Insurance Corporation in carry- ing out the responsibilities of the Corporation. The Federal * Deposit Insurance Corporation shall be subject to the obligations, responsibilities, duties, and restrictions im-, posed by this section only to the extent it is carrying out the functions of the Corporation. "(9) DELEGATION.— Except with respect to the meetings re- quired by paragraph (10), nothing in this section shall preclude a member of the Oversight Board who is a public official from delegating his or her authority to an employee or officer of such member's agency or organization, if such employee or officer has been appointed by the President with the advice and con- sent of the Senate. For purposes of the preceding sentence, the Chairman of the Board of Governors of the Federal Reserve System may delegate his or her authority to another member of the Board of Governors. "(10) QUARTERLY MEETINGS. — Not less than 4 times each year, the Oversight Board shall conduct open meetings to establish and review the general policy of the Corporation and to consider such other standards, policies, and procedures necessary to carry out its functions under this Act. "(11) POWER TO REMOVE; JURISDICTION.— Notwithstanding any other provision of law, any civil action, suit, or proceeding to which the Oversight Board is a party shall be deemed to arise under the laws of the United States, and the United States district courts shall have original jurisdiction. The Oversight Board may, without bond or security, remove any such action, suit, or proceeding from a State court to a United States District Court or to the United States District Court for the District of Columbia. "(12) ADMINISTRATIVE EXPENSES. —The administrative ex- penses of the Oversight Board shall be paid by the Corporation, upon request of the Oversight Board. "(13) STANDARDS, POLICIES, PROCEDURES, GUIDELINES, AND STATEMENTS. —The Oversight Board may issue rules, regula- tions, standards, policies, procedures, guidelines, and statements as the Oversight Board considers necessary or appropriate to carry out its authorities and duties under this Act which shall be promulgated pursuant to subchapter II of chapter 5 of title 5, United States Code. "(14) STRATEGIC PLAN FOR CORPORATION OPERATIONS. — "(A) IN GENERAL.— The Oversight Board shall, subject to paragraph (6), develop a strategic plan for conducting the Corporation's functions and activities. The Oversight Board shall submit the strategic plan to the Congress not later than December 31, 1989. "(B) PROVISIONS OF PLAN.—The strategic plan and im- plementing policies and procedures required under this paragraph shall at a minimum contain the following: "(i) Factors the Corporation shall consider in decid- ing the order in which failed institutions or categories of failed institutions will be resolved.

�