§2996d Officers and Employees

Summary

The Board must pick the Corporation’s president. The president must be a lawyer admitted to the highest court of a State and will sit on the Board but cannot vote. The Board also hires other officers it needs. Officers can only be paid by the Corporation while they work there unless the Board says otherwise, and the Board can remove officers at any time. The president, following Board rules, hires and fires staff needed for the Corporation’s work. No one may be selected, promoted, or punished for political reasons, and the same rule applies to choosing grantees or contractors. A Board member cannot take part in decisions that directly help them or a firm they were linked to in the past two years. Pay is set by the Board but cannot exceed level V of the Executive Schedule in section 5316 of title 5. The Corporation and its staff are not treated as a federal department or federal employees except where this law says otherwise. The Office of Management and Budget may review and comment on the Corporation’s annual budget when it goes to Congress. For the purposes of subchapter I of chapter 81, chapter 83, chapter 87, and chapter 89 of title 5, officers and employees are treated as federal employees and the Corporation must pay the same contribution rates as federal agencies. The Corporation and its staff must follow section 552 of title 5 (the Freedom of Information Act).