Page:United States Statutes at Large Volume 94 Part 1.djvu/688

 94 STAT. 638

PUBLIC LAW 96-294—JUNE 30, 1980 judgment of the Board of Directors, may be withheld under the provisions of subparagraphs (A) through (C) of paragraph (1). (g) The levels of compensation of the Board of Directors shall be fixed initially by the President and may be adjusted from time to time upon recommendation by the Board of Directors and concurrence of the President. OFFICERS AND EMPLOYEES

42 USC 8713.

5 USC 5311, 5331.

Post, p. 665.

SEC. 117. (a) The Chairman shall be the chief executive officer of the Corporation, and shall be responsible for the management and direction of the Corporation. (b) The Board of Directors shall— (1) establish the offices and appoint the officers of the Corporation (including a General Counsel and Treasurer) and define their duties; (2) fix the compensation of individual officer positions and categories of other employees of the Corporation taking into consideration the rates of compensation in effect under the Executive Schedule and the General Schedule prescribed by subchapters II and III of chapter 53 of title 5, United States Code for comparable positions or categories. If the Board of Directors determines that it is necessary to fix the compensation of any officer position or category of other positions at a rate or rates in excess of that prescribed for level I of the Executive Schedule under section 5312 of title 5, the Board of Directors may transmit to the President its recommendations with respect to the rates of compensation it deems advisable for such positions and categories. Such recommendations shall become effective at the beginning of the first pay period which begins after the thirtieth day following the transmittal of such recommendations unless the President has specifically disapproved such recommendation and notified the Board of Directors to such effect; and (3) provide a system of organization to fix responsibility and promote efficiency. (c) Except as specifically provided herein, Directors, officers, and employees of the Corporation shall not be subject to any law of the United States relating to governmental employment. (d) The Chairman shall appoint such employees as may be necessary for the transaction of the Corporation's business to, and may discharge such employees from, positions established in accordance with this section: Provided, however, That the Corporation shall not be authorized to employ more than three hundred individuals in fulltime professional positions at any time: And provided further. That for purposes of the preceding limitation, individuals employed for Corporation construction projects under subtitle E shall not be counted. (e) No political test or qualification shall be used in selecting, appointing, promoting, or taking other personnel actions with respect to officers, agents, and employees of the Corporation, except as provided in section 116(a)(2). CONFUCTS OF INTEREST AND FINANCIAL DISCLOSURE

42 USC 8714. 2 USC 701 note.

SEC. 118. (a) The financial disclosure provisions of the Ethics in Government Act of 1978 (92 Stat. 1824; Public Law 95-521) applicable to individuals occupying positions compensated under the Executive Schedule shall apply to the Directors and officers of the Corporation

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