Page:United States Statutes at Large Volume 63 Part 1.djvu/194

 PUBLIC LAWS-CH. 175-JUNE 7,1949 to as the 'Board'), subject to the general supervision and direction of the Secretary. The Secretary shall be an ex officio director and shall serve as Chairman of the Board. The Board shall consist of six members (in addition to the Secretary), who shall be appointed by the President by and with the advice and consent of the Senate. In addition to their duties as members of the Board, such appointed members shall perform such other duties as may be prescribed by the Compensation. Secretary. Each appointed member of the Board shall receive com- pensation at such rate not in excess of the maximum then payable 42 stat.1488. under the Classification Act of 1923, as amended, as may be fixed by 5 U.S .. C. Pr661- 6;4; Supp. I, 662 et the Secretary, except that any such member who holds another office Post, p. 972. or position under the Federal Government the compensation for which exceeds such rate may elect to receive compensation at the rate pro- vided for such other office or position in lieu of the compensation provided by this section. A majority of the directors shall constitute a quorum of the Board and action shall be taken only by a majority vote of those present. Advisory board. " (b) In addition to the Board of Directors there shall be an advisory board reflecting broad agricultural and business experience in its membership and consisting of five members who shall be appointed by the President, and who shall serve at the pleasure of the President. Not more than three of such members shall belong to the same political party. The advisory board shall meet at the call of the Secretary, who shall require it to meet not less often than once each ninety days; shall survey the general policies of the Corporation, including its policies in connection with the purchase, storage, and sale of com- modities, and the operation of lending and price-support programs; Compensation. and shall advise the Secretary with respect thereto. Members of the advisory board shall receive for their services as members compen- sation of not to exceed $50 per diem when actually engaged in the performance of their duties as such, together with their necessary traveling expenses while going to and coming from meetings." 62 Stat. 1073. SEC. 4. Section 10 of the said Commodity Credit Corporation 15 U.S. C., Supp. 1, §714h. . upp. Charter Act is amended to read as follows: Personnel. "SEC. 10. Personnel of Corporation: The Secretary shall appoint such officers and employees as may be necessary for the conduct of the business of the Corporation, define their authority and duties, delegate to them such of the powers vested in the Corporation as he may deter- mine, require that such of them as he may designate be bonded and fix the penalties therefor. The Corporation may pay the premium of anybond or bonds. With the exception of experts, appointments shall be made pursuant to the civil service laws and the Classification 42 Stat. 1488 . Act of 1923, as amended (5 U. S . C., 1946 edition, 661)." §662 't seq. SEC. 5. Section 4 (c) of the Commodity Credit Corporation Charter Post, p . 972. 62 sta. 1070. Act is amended- 15 U. S.C., Supp. (a) by inserting in the second sentence thereof after the word II,i714b(c). "jurisdiction" a comma and the following: "without regard to the amount in controversy,"; (b) by striking out the fourth sentence thereof and inserting in Time limitation for lieu thereof the following: "No suit by or against the Corporation fiing su its. shall be allowed unless (1) it shall have been brought within six years after the right accrued on which suit is brought, or (2) in the event that the person bringing such suit shall have been under legal disability or beyond the seas at the time the right accrued, the suit shall have been brought within three years after the dis- ability shall have ceased or within six years after the right accrued on which suit is brought, whichever period is longer. The defend- ant in any suit by or against the Corporation may plead, by way 156 [63 STAT.

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