
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: 22USC2193]

 
               TITLE 22--FOREIGN RELATIONS AND INTERCOURSE
 
                     CHAPTER 32--FOREIGN ASSISTANCE
 
                 SUBCHAPTER I--INTERNATIONAL DEVELOPMENT
 
                         Part II--Other Programs
 
           subpart iv--overseas private investment corporation
 
Sec. 2193. Organization and management


(a) Structure

    The Corporation shall have a Board of Directors, a President, an 
Executive Vice President, and such other officers and staff as the Board 
of Directors may determine.

(b) Board of directors

    All powers of the Corporation shall vest in and be exercised by or 
under the authority of its Board of Directors (``the Board'') which 
shall consist of fifteen Directors, including the Chairman, with eight 
Directors constituting a quorum for the transaction of business. Eight 
Directors shall be appointed by the President of the United States, by 
and with the advice and consent of the Senate, and shall not be 
officials or employees of the Government of the United States. At least 
two of the eight Directors appointed under the preceding sentence shall 
be experienced in small business, one in organized labor, and one in 
cooperatives. Each such Director shall be appointed for a term of no 
more than three years. The terms of no more than three such Directors 
shall expire in any one year. Such Directors shall serve until their 
successors are appointed and qualified and may be reappointed.
    The other Directors shall be officials of the Government of the 
United States, including the President of the Corporation, the 
Administrator of the Agency for International Development, the United 
States Trade Representative, and an official of the Department of Labor, 
designated by and serving at the pleasure of the President of the United 
States. The United States Trade Representative may designate a Deputy 
United States Trade Representative to serve on the Board in place of the 
United States Trade Representative.
    There shall be a Chairman and a Vice Chairman of the Board, both of 
whom shall be designated by the President of the United States from 
among the Directors of the Board other than those appointed under the 
second sentence of the first paragraph of this subsection.
    All Directors who are not officers of the Corporation or officials 
of the Government of the United States shall be compensated at a rate 
equivalent to that of level IV of the Executive Schedule when actually 
engaged in the business of the Corporation and may be paid per diem in 
lieu of subsistence at the applicable rate prescribed in the 
standardized Government travel regulations, as amended from time to 
time, while away from their homes or usual places of business.

(c) President

    The President of the Corporation shall be appointed by the President 
of the United States, by and with the advice and consent of the Senate, 
and shall serve at the pleasure of the President. In making such 
appointment, the President shall take into account private business 
experience of the appointee. The President of the Corporation shall be 
its Chief Executive Officer and responsible for the operations and 
management of the Corporation, subject to bylaws and policies 
established by the Board.

(d) Officers and staff

    The Executive Vice President of the Corporation shall be appointed 
by the President of the United States, by and with the advice and 
consent of the Senate, and shall serve at the pleasure of the President. 
Other officers, attorneys, employees, and agents shall be selected and 
appointed by the Corporation, and shall be vested with such powers and 
duties as the Corporation may determine. Of such persons employed by the 
Corporation, not to exceed twenty may be appointed, compensated, or 
removed without regard to the civil service laws and regulations: 
Provided, That under such regulations as the President of the United 
States may prescribe, officers and employees of the United States 
Government who are appointed to any of the above positions may be 
entitled, upon removal from such position, except for cause, to 
reinstatement to the position occupied at the time of appointment or to 
a position of comparable grade and salary. Such positions shall be in 
addition to those otherwise authorized by law, including those 
authorized by section 5108 of title 5.

(e) Investment advisory council

    The Board shall take prompt measures to increase the loan, 
guarantee, and insurance programs, and financial commitments, of the 
Corporation in sub-Saharan Africa, including through the use of an 
investment advisory council to assist the Board in developing and 
implementing policies, programs, and financial instruments with respect 
to sub-Saharan Africa. In addition, the investment advisory council 
shall make recommendations to the Board on how the Corporation can 
facilitate greater support by the United States for trade and investment 
with and in sub-Saharan Africa. The investment advisory council shall 
terminate 4 years after May 18, 2000.

(Pub. L. 87-195, pt. I, Sec. 233, as added Pub. L. 91-175, pt. I, 
Sec. 105, Dec. 30, 1969, 83 Stat. 810; amended Pub. L. 97-65, Sec. 3(a), 
(b), Oct. 16, 1981, 95 Stat. 1021, 1022; Pub. L. 106-158, Sec. 4, Dec. 
9, 1999, 113 Stat. 1746; Pub. L. 106-200, title I, Sec. 123(c)(1), May 
18, 2000, 114 Stat. 269.)

                       References in Text

    Level IV of the Executive Schedule, referred to in subsec. (b), is 
set out in section 5315 of Title 5, Government Organization and 
Employees.
    The civil service laws, referred to in subsec. (d), are set out in 
Title 5. See, particularly, section 3301 et seq. of Title 5.


                            Prior Provisions

    A prior section 233 of Pub. L. 87-195, pt. I, Sept. 4, 1961, 75 
Stat. 432, contained definitions, prior to the general reorganization of 
this subpart by Pub. L. 91-175, pt. I, Sec. 105, Dec. 30, 1969, 83 Stat. 
807.


                               Amendments

    2000--Subsec. (e). Pub. L. 106-200 added subsec. (e).
    1999--Subsec. (b). Pub. L. 106-158, Sec. 4(1), (2), in first par., 
struck out after first sentence ``The Administrator of the Agency for 
International Development shall be the Chairman of the Board, ex 
officio. The United States Trade Representative shall be the Vice 
Chairman of the Board, ex officio, except that the United States Trade 
Representative may designate the Deputy United States Trade 
Representative to serve as Vice Chairman of the Board in place of the 
United States Trade Representative.'' and struck out ``(other than the 
President of the Corporation, appointed pursuant to subsection (c) of 
this section who shall serve as a Director, ex officio)'' after ``Eight 
Directors''.
    Pub. L. 106-158, Sec. 4(3), in second par., inserted ``the President 
of the Corporation, the Administrator of the Agency for International 
Development, the United States Trade Representative, and'' after 
``United States, including'' and inserted at end ``The United States 
Trade Representative may designate a Deputy United States Trade 
Representative to serve on the Board in place of the United States Trade 
Representative.''
    Pub. L. 106-158, Sec. 4(4), inserted after second par. ``There shall 
be a Chairman and a Vice Chairman of the Board, both of whom shall be 
designated by the President of the United States from among the 
Directors of the Board other than those appointed under the second 
sentence of the first paragraph of this subsection.''
    1981--Subsec. (b). Pub. L. 97-65 expanded to 15 the number of 
Directors on the Board, raised to 8 the number required to constitute a 
quorum and made other technical changes in connection with the increased 
size of the Board, inserted provision directing that the United States 
Trade Representative be the Vice Chairman of the Board, ex officio, but 
authorizing the United States Trade Representative to designate the 
Deputy United States Trade Representative to serve as Vice Chairman of 
the Board in place of the United States Trade Representative, provided 
that the President of the Corporation serve as a Director, ex officio, 
and inserted provision that an official of the Department of Labor be 
added to the Board as a Director.


                    Effective Date of 1981 Amendment

    Section 3(c) of Pub. L. 97-65 provided that: ``The amendments made 
by this section [amending this section] shall take effect on October 1, 
1981.''

                         Delegation of Functions

    For delegation of functions of President under this section, see Ex. 
Ord. No. 12163, Sept. 29, 1979, 44 F.R. 56673, as amended, set out as a 
note under section 2381 of this title.


Members of Board of Directors of Overseas Private Investment Corporation

    For provisions directing that the United States Trade Representative 
serve, ex officio, as an additional voting member of the Board of 
Directors of the Overseas Private Investment Corporation and to serve as 
the Vice Chair of that Board and authorizing and directing the 
appointment of an additional member of the Board of Directors of the 
Overseas Private Investment Corporation as part of the consolidation of 
the trade functions of the Federal government, see Reorg. Plan No. 3 of 
1979, Sec. 4, 44 F.R. 69274, 93 Stat. 1381, eff. Jan. 2, 1980, as 
provided in section 1-107(a) of Ex. Ord. No. 12188, 45 F.R. 993, set out 
in the Appendix to Title 5, Government Organization and Employees.

                  Section Referred to in Other Sections

    This section is referred to in title 19 section 3733.
