PUBLIC LAW 96-294—JUNE 30, 1980
94 STAT. 673
upon a written contract to which the Corporation is an executing party. The liability of the Corporation shall be limited to the assets of the Corporation. SUBTITLE H—GENERAL PROVISIONS GENERAL POWERS
SEC. 171. (a) In carrying out the provisions of this part, the 42 USC 8771. Corporation shall have the power, consistent with the provisions of this part— (1) to adopt, alter, and rescind bylaws and to adopt and alter a corporate seal, which shall be judicially noticed; (2) to make agreements and contracts with persons and private or governmentel entities: Provided, however, That the Corporation shall not provide any financial assistance except as specifically permitted under this part; (3) to lease, purchase, accept gifts or donations of, or otherwise to acquire, and to own, hold, improve, use, or otherwise deal in or with, and to sell, convey, mortgage, pledge, lease, exchange, or otherwise dispose of, any property, real, personal, or mixed, or any interest therein; (4) to sue and be sued, subject to the provisions of section 168, in its corporate name and to complain and defend in any court of competent jurisdiction; (5) to represent itself, or to contract for representation, in all judicial, legal, and other proceedings, except actions cognizable under the Federal Tort Claims Act (28 U.S.C. 2671 et seq.), in which actions it will be represented by the Attorney General; (6) subject to section 117, to select, employ, and fix the compen- Ante, p. 638. sation (including, without limitation, pension plans, health benefits, incentive compensation plans, paid vacation, sick leave, and other fringe benefits) of such officers, employees, attorneys, and agents as shall be necessary for the transaction of the business of the Corporation; (7) to make provision for and designate such committees, and the functions thereof, as the Board of Directors may deem necessary or desirable; (8) to indemnify Directors and officers of the Corporation, as the Board of Directors may deem necessary or desirable; (9) with the approval of the agency concerned, to make use of services, facilities, and property of any board, commission, independent establishment, or executive agency or department of the executive branch in carrying out the provisions of this part and to pay for such use, such payments to be credited to the applicable appropriation that incurred the expense; (10) to determine and prescribe the manner in which obligations of the Corporation shall be incurred and its expenses allowed and paid; (11) to obtain the services and fix the compensation of experts; (12) to use the United States mails on the same terms and conditions as the executive departments of the United States Government; and (13) to exercise all other lawful powers necessarily or reasonably related to the establishment of the Corporation, to carry out the provisions of this part and the exercise of its powers, purposes, functions, duties, and authorized activities.
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