12 2 STA T . 2 798PUBLIC LA W 11 0– 289 —J UL Y3 0 , 2008 (A)conti n ue to pr o v i d e s uc h services , on a rei mb ursab l e basis, until the trans f er of such functions is complete
and ( B ) consult w ith an y such a g ency to coordinate and facilitate a prompt and reasonable transition . (e) CONTI N UA TION O FSERV I C E S . —T he D irector may use the services of employees and other personnel of the Board, on a reimbursable basis, to perform functions which have been trans - ferred to the Director for such time as is reasonable to facilitate the orderly transfer of functions pursuant to any other provision of this Act or any amendment made by this Act to any other provision of law. (f) SAVIN G S P ROVISIONS.— ( 1 ) EX ISTING RIG H TS, D UTIES, AND O BL IGATIONS NOT AFFECTED.—Subsection (a) shall not affect the validity of any right, duty, or obligation of the U nited States, a member of the Board, or any other person, which— (A) arises under the F ederal H ome L oan Ban k Act, or any other provision of law applicable with respect to the Board; and (B) e x isted on the day before the effective date of the abolishment under subsection (a). ( 2 ) CONTINUATION OF SUITS.— N o action or other proceeding commenced by or against the Board in connection with functions that are transferred under this Act to the Director shall abate by reason of the enactment of this Act, except that the Director shall be substituted for the Board or any member thereof as a party to any such action or proceeding. SEC.13 1 2 .C ONTI N UA TION AN D COO R DINATION O F CERTAIN ACTIONS. (a) I N G ENERAL.—All regulations, orders, determinations, and resolutions described under subsection (b) shall remain in effect according to the terms of such regulations, orders, determinations, and resolutions, and shall be enforceable by or against the Director until modified, terminated, set aside, or superseded in accordance with applicable law by the Director, any court of competent j urisdic- tion, or operation of law. (b) A P PLICABILIT Y .—A regulation, order, determination, or reso- lution is described under this subsection if it— (1) was issued, made, prescribed, or allowed to become effective by— (A) the Board; or (B) a court of competent jurisdiction, and relates to functions transferred by this Act; and (2) is in effect on the effective date of the abolishment under section 1 3 11(a). SEC. 1313. TRANSFER AND RI GH TSOFE MPL O Y EES OF THE FEDERAL HOUSING FINANCE B OARD. (a) TRANSFER.—Each employee of the Board shall be transferred to the Agency for employment, not later than the effective date of the abolishment under section 1311(a), and such transfer shall be deemed a transfer of function for purposes of section 3 50 3 of title 5, United States Code. (b) GUARANTEED POSITIONS.— (1) IN GENERAL.—Each employee transferred under sub- section (a) shall be guaranteed a position with the same status, tenure, grade, and pay as that held on the day immediately preceding the transfer. Deadlin e .12USC45 11 n ot e. R e gu lation s . Or ders. 12 USC 4511 note.
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