§3307 — Title 12 Banks and Banking | U.S. Code

Summary

The Chair of the Council can run and delegate the Council’s internal day-to-day work. The Chair can hire and supervise staff and decide how work is divided among members, employees, and offices. The Council may use, with their consent and when practical, the people, services, and facilities of the Federal financial institutions regulatory agencies, Federal Reserve banks, and Federal Home Loan Banks, with or without reimbursement. The Council can also appoint officers and employees (must follow Title 5 rules on competitive service, classification, and General Schedule pay rates), set their duties and pay, and hire experts and consultants.

Title 12, §3307

Banks and Banking — Source: USLM XML via OLRC

(a)The Chairman of the Council is authorized to carry out and to delegate the authority to carry out the internal administration of the Council, including the appointment and supervision of employees and the distribution of business among members, employees, and administrative units.

(b)in 11 So in original. Probably should be capitalized. addition to any other authority conferred upon it by this chapter, in carrying out its functions under this chapter, the Council may utilize, with their consent and to the extent practical, the personnel, services, and facilities of the Federal financial institutions regulatory agencies, Federal Reserve banks, and Federal Home Loan Banks, with or without reimbursement therefor.

(c)In addition, the Council may—

(1)subject to the provisions of title 5 relating to the competitive service, classification, and General Schedule pay rates, appoint and fix the compensation of such officers and employees as are necessary to carry out the provisions of this chapter, and to prescribe the authority and duties of such officers and employees; and

(2)obtain the services of such experts and consultants as are necessary to carry out the provisions of this chapter.

Notes & Related Subsidiaries

Editorial Notes

References in Text

The provisions of title 5 relating to the competitive service, referred to in subsec. (c), are classified generally to section 3301 et seq. of Title 5, Government Organization and Employees. The provisions of title 5 relating to classification, referred to in subsec. (c), are classified generally to chapter 51 (§ 5101 et seq.) and to subchapter III (§ 5331 et seq.) of chapter 53 of Title 5. The provisions of title 5 relating to General Schedule pay rates, referred to in subsec. (c), are set out under section 5332 of Title 5.

Statutory Notes and Related Subsidiaries

Effective Date

Section effective upon the expiration of 120 days after Nov. 10, 1978, see section 2101 of Pub. L. 95–630, set out as a note under section 375b of this title.

§3307 Administration