EL DIRECTOR Articulo V scope of authority. 1. El Director tendri amplios y plenos poderes para dirigir las actividades del Instituto, bajo la vigilancia de la Junta Directiva del mismo; y sera responsable del cumplimiento de todas las 6rdenes y resoluciones de dicha Junta. Legalfunctions. 2. El Director tendra la repre- sentaci6n legal del Instituto bajo la vigilancia de la Junta Directiva del mismo; y podra legalizar con el sello del Instituto todos los con- tratos, traspasos y otros instru- mentos que requieran ese trimite y que en su opini6n sean necesarios y convenientes para el funciona- miento del Instituto. Ademas es- tara facultado para tomar cual- quiera otra medida necesaria para dar fuerza legal a tales instrumen- tos, de conformidad con los re- quisitos o disposiciones de la ley. El Director podra otorgar poderes a otras personas para todos aque- llos actos que no pueda realizar 1e personalmente. THE DIRECTOR Article V 1. The Director under the super- vision of the Board of Directors shall have ample and full powers to direct the activities of the In- stitute; and he shall be responsible for carrying out all orders and resolutions of said Board. 2. The Director under the super- vision of the Board of Directors shall be the legal representative of the Institute; and he may legalize, with the seal of the Institute, all contracts, conveyances and other instruments which require such legalization and which in his opin- ion are necessary and advanta- geous to the operation of the In- stitute. In addition, he shall be authorized to take any other step necessary to validate such instru- ments as may be required or per- mitted by law. The Director may grant powers to others for all those acts which he cannot per- form personally. 3. The Director, under the supervision of the Board of Direc- tors of the Institute, shall have the power to appoint, remove, and determine the compensation of employees. 4. The Director shall prepare the budget of the Institute for each fiscal year, and submit it to the Board of Directors at least two months before the annual meeting at which it will be con- sidered for approval. 5. The Director shall submit an annual report to the Board of Directors of the Institute two months before the annual meeting, setting forth the work of the In- Jurisdiction over personnel. Submittal of bud- get. Snbmittal of annual report, etc. 3. El Director, sujeto a la super- vigilancia de la Junta Directiva del Instituto, tendrA facultad para nombrar y remover empleados y fijar su remuneraci6n. 4. El Director preparara el pre- supuesto del Instituto para cada afo fiscal y lo sometera a la Junta Directiva con no menos de dos meses de anticipaci6n a la reuni6n anual, en la cual se considerara su aprobaci6n. 5. El Director presentara un in- forme anual a la Junta Directiva del Instituto, dos meses antes de celebrarse la reuni6n anual, en el que dara cuenta de las labores del TREATIES [58 STAT.
�
