
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 12USC2245]

 
                       TITLE 12--BANKS AND BANKING
 
                     CHAPTER 23--FARM CREDIT SYSTEM
 
          SUBCHAPTER V--FARM CREDIT ADMINISTRATION ORGANIZATION
 
             Part B--Farm Credit Administration Organization
 
Sec. 2245. Organization of Farm Credit Administration


(a) Policies of Board

    The Chairman of the Farm Credit Administration Board, in carrying 
out the powers and duties vested in the Chairman by this chapter, and 
Acts supplementary thereto, shall be governed by policies of the Board 
and by such regulatory decisions, findings, and determinations as the 
Board may by law be authorized to make.

(b) Appointments

    The Chairman of the Board shall appoint such personnel as may be 
necessary to carry out the functions of the Farm Credit Administration. 
The appointment by the Chairman of the heads of major administrative 
divisions under the Board shall be subject to the approval of the Board.

(c) Personnel

                  (1) Appointments by Board members

        Personnel employed regularly and full-time in the immediate 
    offices of Board members shall be appointed by each such Board 
    member.

                     (2) Officers and employees

        (A) Appointment, compensation, and benefits

            The Chairman shall fix the compensation and number of, and 
        appoint and direct, employees of the Administration. The 
        Chairman may set and adjust the rates of basic pay for employees 
        of the Administration without regard to the provisions of 
        chapter 51, or subchapter III of chapter 53, of title 5. The 
        Chairman may provide such additional compensation and benefits 
        to employees of the Administration as is necessary to maintain 
        comparability with the total amount of compensation and benefits 
        provided by other Federal bank regulatory agencies. In setting 
        and adjusting the total amount of compensation and benefits for 
        employees of the Administration, the Chairman shall consult 
        with, and seek to maintain comparability with, other Federal 
        bank regulatory agencies.

        (B) ``Other Federal bank regulatory agencies'' defined

            For purposes of this subsection, the term ``other Federal 
        bank regulatory agencies'' has the same meaning given to the 
        term ``appropriate Federal banking agency'' in section 1813(q) 
        of this title.

        (C) Ethics in Government

            The officers and employees of the agency shall be--
                (i) subject to the Ethics in Government Act of 1978; and
                (ii) considered officers or employees of the United 
            States for the purposes of sections 201 through 203, and 
            sections 205 through 209, of title 18.

                           (3) Delegation

        The powers of the Chairman as chief executive officer necessary 
    for day to day management may be exercised and performed by the 
    Chairman through such other officers and employees of the 
    Administration as the Chairman shall designate, except that the 
    Chairman may not delegate powers specifically reserved to the 
    Chairman by this chapter without Board approval.

(d) Funding

    The operations of the Farm Credit Administration, and the salaries 
of members of the Board and employees of the Administration, shall be 
funded and paid for from the fund created under section 2250 of this 
title.

(Pub. L. 92-181, title V, Sec. 5.11, Dec. 10, 1971, 85 Stat. 620; Pub. 
L. 99-205, title II, Sec. 201(1), Dec. 23, 1985, 99 Stat. 1690; Pub. L. 
100-233, title IV, Sec. 431(c), title VIII, Sec. 805(x), Jan. 6, 1988, 
101 Stat. 1659, 1716; Pub. L. 100-399, title IV, Sec. 415(a), title VII, 
Sec. 702(b), Aug. 17, 1988, 102 Stat. 1004, 1006; Pub. L. 101-73, title 
XII, Sec. 1210, Aug. 9, 1989, 103 Stat. 523.)

                       References in Text

    The Ethics in Government Act of 1978, referred to in subsec. 
(c)(2)(C)(i), is Pub. L. 95-521, Oct. 26, 1978, 92 Stat. 1824, as 
amended. For complete classification of this Act to the Code, see Short 
Title note set out under section 101 of Pub. L. 95-521 in the Appendix 
to Title 5, Government Organization and Employees, and Tables.


                               Amendments

    1989--Subsec. (c)(2). Pub. L. 101-73 amended par. (2) generally. 
Prior to amendment, par. (2) read as follows: ``The officers and 
employees of the agency shall be--
        ``(A) subject to the Ethics in Government Act of 1978 (2 U.S.C. 
    701 et seq.);
        ``(B) considered officers or employees of the United States for 
    the purposes of sections 201 through 203, and sections 205 through 
    209, of title 18; and
        ``(C) subject to section 5373 of title 5.''
    1988--Pub. L. 100-233, Sec. 805(x), which directed the amendment of 
this section by striking out the last sentence, was repealed by Pub. L. 
100-399, Sec. 702(b). See Construction of 1988 Amendment note below.
    Pub. L. 100-233, Sec. 431(c), amended section generally, 
substituting subsecs. (a) to (d) for former text consisting of single 
undesignated paragraph.
    Subsec. (c)(2)(C). Pub. L. 100-399, Sec. 415(a), substituted 
``5373'' for ``5315''.
    1985--Pub. L. 99-205 substituted provisions respecting organization 
of the Farm Credit Administration for provisions relating to 
compensation and expense allowance of the Governor of the Farm Credit 
Administration.


                    Effective Date of 1988 Amendment

    Amendment by section 415(a) of Pub. L. 100-399 effective as if 
enacted immediately after enactment of Pub. L. 100-233, which was 
approved Jan. 6, 1988, see section 1001(a) of Pub. L. 100-399, set out 
as a note under section 2002 of this title.


                    Effective Date of 1985 Amendment

    Amendment by Pub. L. 99-205 effective thirty days after Dec. 23, 
1985, see section 401 of Pub. L. 99-205, set out as a note under section 
2001 of this title.


                     Construction of 1988 Amendment

    Section 702(b) of Pub. L. 100-399 provided that section 805(x) of 
Pub. L. 100-233, cited as a credit to this section, is repealed and that 
this section shall be applied and administered as if such section had 
not been enacted.


                Interim Implementation of 1985 Amendment

    For provisions authorizing interim implementation by Governor of 
Farm Credit Administration of amendments to this section by Pub. L. 99-
205, see section 402 of Pub. L. 99-205, set out as a note under section 
2241 of this title.

                  Section Referred to in Other Sections

    This section is referred to in section 2242 of this title.
