2 U.S.C. § 804 — Administration

(a) Director; status; appointment and term; removal. The Board must be assisted by a Director. The Director is the program’s principal executive and supervises the Board’s affairs. The Board appoints the Director by majority vote, sets the Director’s term, and may remove the Director by majority vote.

(b) Functions of Director. In consultation with the Board, the Director must (1) create programs carrying out the Program’s policies; (2) establish appropriate divisions; and (3) hire and arrange compensation for needed personnel, subject to Board policies in its bylaws.

(c) Financial operations; noncompliance. (1) In consultation with the Board, the Director must ensure that appropriate fiscal-control and accounting policies and procedures are established. Financial operations must be administered by people with accounting and financial-management expertise, who may be retained by contract. The Director must ensure that in no fiscal year the Board’s liabilities exceed its assets. (2)(A) The independent public accountant that performs the annual audit under section 807(a) must decide each fiscal year whether the Director substantially complied with paragraph (1). The accountant’s findings must be included in the reports required by section 807(b). (B) If the Director fails substantially to comply, the Board must order corrective action and must remove and replace the Director if the deficiencies are not promptly corrected.