Us Code § 151304 - Officers and employees

Full text of Us Code United States Code § 151304 — Officers and employees, with citation guidance and answers to common questions.

§ 151304. Officers and employees

(a) Appointment.—The board of directors may appoint officers or employees, but only after the corporation has sufficient funds to pay for their services.

(b) Status and Compensation.—Officers and employees of the corporation—

(1) shall not be considered employees of the United States Government;

(2) shall be appointed without regard to the provisions of title 5 governing appointments in the competitive service; and

(3) may be paid without regard to chapter 51 and subchapter III of chapter 53 of title 5, except that an officer or employee may not be paid more than 15 percent above the annual rate of basic pay for level GS–15 of the General Schedule under section 5107 of title 5.

(Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1400; Pub. L. 106–503, title I, §113(c), Nov. 13, 2000, 114 Stat. 2304; Pub. L. 108–169, title II, §206(b), Dec. 6, 2003, 117 Stat. 2040.)

Historical and Revision Notes
Revised

Section

Source (U.S. Code)Source (Statutes at Large)
151304(a) 36:5202(g)(1)(A), (2). Oct. 26, 1992, Pub. L. 102–522, title II, §203(g)(1)(A), (2), (h), 106 Stat. 3418.
151304(b) 36:5202(h).  

Subsection (a) is substituted for the source provisions for clarity.

In subsection (b)(3), the words "relating to classification and General Schedule pay rates" are omitted as unnecessary.


Editorial Notes

References in Text

The General Schedule, referred to in subsec. (b)(3), is set out under section 5332 of Title 5, Government Organization and Employees.

Codification

Section 5202(g)(1) of former Title 36, from which this section was derived, was amended after the Aug. 15, 1997, cutoff date by Pub. L. 105–276, title IV, §427(b), Oct. 21, 1998, 112 Stat. 2511, see section 5(a) of Pub. L. 105–225, set out as a Legislative Purpose and Construction note preceding section 101 of this title. The subsequent amendment made directly to this section by section 113(c)(1) of Pub. L. 106–503 replicated the prior amendment made by Pub. L. 105–276.

Amendments

2003—Subsec. (b)(3). Pub. L. 108–169 inserted "15 percent above" after "more than".

2000—Subsec. (a). Pub. L. 106–503, §113(c)(1), struck out "not more than 2" after "appoint".

Subsec. (b)(1). Pub. L. 106–503, §113(c)(2), substituted "shall not be considered" for "are not".

About This Section

36 U.S.C. § 151304 is part of Title 36 of the United States Code. The United States Code is the official codification of federal statutes maintained by the Office of the Law Revision Counsel of the U.S. House of Representatives. Congress amends the Code through new public laws, which are eventually incorporated into the relevant title.

This section may be cited in legal writing as 36 U.S.C. § 151304. For the most current official text, including any recent amendments, use the official source links below. Do not rely on this page as the sole authority for legal citation or litigation.

How to Read This Statute

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Sources

Frequently Asked Questions About Us Code § 151304

What does United States Code § 151304 cover?

Section 151304 ("Officers and employees") is part of the United States Code, the codified statutory law of Us Code. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.

How do I cite Us Code § 151304?

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Is this the official text of Us Code law?

No. This page is for research and education and may not include the most recent amendments. For official current law, check the Us Code official source linked on this page or consult a licensed Us Code attorney.

How does Us Code § 151304 apply to my situation?

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Sources & Verification

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