20 U.S.C. § 4415 — President of Institute

(a) Appointment The Institute^* must have a President who must be appointed by the Board^*. The President of the Institute must serve as the chief executive officer of the Institute. Subject to the direction of the Board and the general supervision of the Chairman of the Board, the President of the Institute must have the responsibility for carrying out the policies and functions of the Institute and must have authority over all personnel and activities of the Institute. (b) Compensation The President of the Institute must be paid at a rate not to exceed the maximum rate of basic pay payable for grade GS–18 of the General Schedule.