Page:United States Statutes at Large Volume 94 Part 1.djvu/689

 PUBLIC LAW 96-294—JUNE 30, 1980

94 STAT. 639

and to employees of the Corporation whose position in the schedule established by the Board of Directors pursuant to section 117(b)(2) is compensated at a rate equivalent to that payable for grade GS-16 or above of the General Schedule established by chapter 58 of title 5, 5 usg 5332 note. United States Code. The financial disclosure provisions of the Ethics ^^ ^^ ^^^^^ in Government Act of 1978 shall apply to the Corporation as if it were ^ ^^^ '^^^ ^°^^a Federal agency. (b) Any provision of law governing post-Federal employment activities shall not apply to former Federal employees who may be employed by the Corporation while acting on behalf of the Corporation. (c)(1) Except as permitted by paragraph (3), no Director shall vote on any matter respecting any application, contract, claim, or other particular matter pending before the Corporation, in which, to his or her knowledge, he or she, his or her spouse, minor child, partner, or an organization (other than the Corporation) in which he or she is serving as officer, director, trustee, partner, or employee, or any person or organization with whom he or she is negotiating or has any arrangement concerning prospective employment, has a financial interest. (2) Action by a Director contrary to the prohibition contained in paragraph (1) shall be cause for removal of such Director pursuant to section 116(b)(3), but shall not impair or otherwise affect the validity of any otherwise lawful action by the Corporation in which the Director or officer participated. (3) The prohibition contained in paragraph (1) shall not apply if the Director first advises the Board of Directors of the nature of the particular matter in which he or she proposes to participate and makes full disclosure of such financial interest, and the Board of Directors determines by majority vote that the financial interest is too remote or too inconsequential to affect the integrity of such Director'services for the Corporation in that matter. The Director involved shall not participate in such determination. (d) Section 207(a) of title 18, United States Code (and subsections (f), (h), and (j) of such section to the extent they relate to subsection (a)) shall apply to former Directors, officers, and employees of the Corporation as if they were former officers or employees of the executive branch of the United States Government. Such section shall apply to the Corporation as if it were an agency of the executive branch of the United States Government, DELEGATION

SEC. 119. (a) The Board of Directors may, by resolution, delegate to ^^ use 8715. the Chairman and the other Directors functions, powers, and duties assigned to the Corporation under this part other than those expressly vested in the Board of Directors pursuant to sections 116(f), 117(b), 118(c)(3), 126(a)(l)(D), 126(b), 127(c), (e), and (f), 131(a), (b), and (f), 132(a) and (d), 133(a) and (b), 134,135(a), 136(a) and (b), 137(b) and (c). Post, pp. 658,660, 141(a), 154,171(a)(8) and (c), 173(a) and (b), 181(a) and (c), and 191(b). The ^61, 662, 663, Chairman may, only by written instrument, delegate such functions, 575^ ggoj ggi powers, and duties as are assigned to the Chairman by or pursuant to the provisions of this part to such other full-time Directors, officers, or employees of the Corporation as the Chairman deems appropriate. (b)(l) Notwithstanding any other provision of law, the President and any other officer or employee of the United States shall not make any delegation to the Chairman, the Board of Directors, or the

79-194

O—81—pt. 1

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