5 U.S.C. § 411 — Special provisions concerning the Federal Deposit Insurance Corporation
submitted 4 years ago by Pub. L. 117-286 to r/title-5-GOVERNMENT-ORGANIZATION-AND-EMPLOYEES · 152 words · no verdicts yet
This law sets special rules for the FDIC. The Chairperson may hand off certain authority only to the Vice Chairperson, no one else. The FDIC's Inspector General can hire staff and outside experts needed to run that office.
(a) Delegation. The Chairperson of the Federal Deposit Insurance Corporation can hand off the authority given by the second sentence of section 403(a) — but only to the Vice Chairperson of the FDIC's Board of Directors. The Chairperson cannot delegate that authority to any other officer or employee of the Corporation.
(b) Personnel. Even though section 406(a)(7) and (8) normally apply, the Inspector General* of the FDIC may select, appoint, and employ the officers and employees needed to carry out the Office* of Inspector General's functions, powers, and duties. The Inspector General may also bring in experts or consultants — individuals or organizations — on a temporary or as-needed basis. All of this hiring must follow the laws and regulations that otherwise govern hiring and staffing within the FDIC.
The Chairperson of the Federal Deposit Insurance Corporation may delegate the authority specified in the 2d sentence of section 403(a) of this title to the Vice Chairperson of the Board of Directors of the Federal Deposit Insurance Corporation, but may not delegate such authority to any other officer or employee of the Corporation.
Notwithstanding paragraphs (7) and (8) of section 406(a) of this title, the Inspector General* of the Federal Deposit Insurance Corporation may select, appoint, and employ such officers and employees as may be necessary for carrying out the functions, powers, and duties of the Office* of Inspector General and may obtain the temporary or intermittent services of experts or consultants or an organization of experts or consultants, subject to the applicable laws and regulations that govern such selections, appointments, and employment, and the obtaining of such services, within the Federal Deposit Insurance Corporation.
Source credit: (Pub. L. 117–286, § 3(b), Dec. 27, 2022, 136 Stat. 4228.)
- 2022Enacted · Pub. L. 117-286 · 136 Stat. 4228
A history note hasn’t been published yet. The record shows enactment by Pub. L. 117-286 on 2022-12-27.
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