Page:United States Statutes at Large Volume 103 Part 1.djvu/399

 PUBLIC LAW 101-73 —AUG. 9, 1989 103 STAT. 371 " (9) STAFF — "(A) IN GENERAL.— Unless the Oversight Board exercises its authority under subsection (m), the Corporation itself shall have no employees. " (B) UTILIZATION OF PERSONNEL OF OTHER AGENCIES.— "(i) FDIC.—The Federal Deposit Insurance Corpora- tion, when acting as the exclusive manager of the Corporation, shall (subject to subsection (a)(6)) receive reimbursement from the Corporation for all services performed for the Corporation. Such reimbursement may not exceed the actual and reasonable cost incurred by the Federal Deposit Insurance Corporation in performing such services. " (ii) OTHER AGENCIES.—With the agreement of any executive department or agency, the Corporation may utilize the personnel of any such executive department or agency on a reimbursable basis to cover actual and reasonable expenses. "(10) CORPORATE POWERS. —The Corporation shall have the following powers: "(A) To adopt, alter, and use a corporate seal. "(B) In the event the Oversight Board exercises its authority under subsection (m), the Corporation shall pro- vide for a chief executive officer, 1 or more vice presidents, a secretary, a general counsel, a treasurer, and such other officers, employees, attorneys, and agents as the Corpora- tion may determine to be necessary, define the duties of such officers or employees, and require surety bonds or make other provisions against losses occasioned by acts of such individuals. "(C) To enter into contracts and modify, or consent to the modification of, any contract or agreement to which the Corporation is a party or in which the Corporation has an interest under this section. "(D) To make advance, progress, or other payments. "(E) To acquire, hold, lease, mortgage, maintain, or dis- pose of, at public or private sale, real and personal prop- erty, and otherwise exercise all the usual incidents of ownership of property necessary and convenient to the operations of the Corporation. "(F) To sue and be sued in its corporate capacity in any court of competent jurisdiction. "(G) To deposit any securities or funds held by the Cor- poration in any facility or depositary described in section 13(b) of the Federal Deposit Insurance Act under the terms and conditions applicable to the Federal Deposit Insurance Corporation under such section 13(b) and pay fees thereof and receive interest thereon. "(H) To take warrants, voting and nonvoting equity, or other participation interests in institutions or assets or properties of institutions described in paragraph (3)(A) and paragraph (llXAXiv). "(I) To use the United States mails in the same manner and under the same conditions as other departments and agencies of the United States. "(J) To prescribe through its Board of Directors bylaws that shall be consistent with law.

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