Page:United States Statutes at Large Volume 63 Part 1.djvu/390

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PUBLIC LAWS-CH. 285 -JUNE 30, 1949 That the Corporation shall not engage in the manufacture of rum or other alcoholic beverages. Powers of corpora- SEC. 4. The Corporation shall have, and may exercise, the following Ante,p. 351. general powers in carrying on the activities specified in section 3 of this Act: (a) To have succession until June 30, 1959, unless sooner dissolved by Act of Congress. (b) To adopt, alter, and use a corporate seal, which shall be judicially noticed. (c) To adopt, amend, and repeal bylaws governing the conduct of its business, and the performance of the powers and duties granted to or imposed upon it by law. (d) To sue and to be sued in its corporate name. (e) To determine the character of and the necessity for its obliga- tions and expenditures and the manner in which they shall be incurred, allowed, and paid, subject to the laws applicable specifically to Government corporations. Acquisitionof prop (f) To acquire, in any lawful manner, any property-real, personal, or mixed, tangible or intangible-to hold, maintain, use, and operate the same; and to sell, lease, or otherwise dispose of the same, whenever any of the foregoing transactions are deemed necessary or appropriate to the conduct of the activities authorized by this Act, and on such terms as may be prescribed by the Corporation. Contracts, etc. (g) To enter into and perform such contracts, leases, cooperative agreements, or other transactions with any agency or instrumentality of the United States, or with any State, Territory, or possession, or with any political subdivision thereof, or with any person, firm, association, or corporation, as may be deemed necessary or appropriate to the conduct of the activities authorized by this Act, and on such terms as may be prescribed by the Corporation: Provided, That in no case shall the Corporation contract to undertake an activity for any agency or instrumentality of the United States, or for any State, Territory, or possession, or for any political subdivision thereof, unless the latter is authorized by law to undertake such activity and furnishes the funds for such purpose. (h) To execute all instruments necessary or appropriate in the exercise of any of its functions. Appointment of (i) To appoint, without regard to the provisions of the civil-service ployees. laws, such officers, agents, attorneys, and empl)oyees as may be necessary for the conduct of the business of the Corporal ion; to delegate to thelm such powers and to prescribe for them such duties as may be deemed appropriate by the Corporation; to fix and pay such comipensation to them for their services as the Corporation may deterlmine, without regard to the provisions of the classification laws except to the extent that these laws may be extended to the Corporation by the President of the United States; and to require bonds from such of them as the Corpo- ration may designate, the premiums therefor to be paid by the Corpora- tion. In the appointment of officials and the selection of employees for said Corporation, and in the promotion of any such officials or employees, no political test or qualification shall be permitted or given consideration, but all such appointments and promotions shall be given Removal from office and made on the basis of merit and efficiency. Any member of said board who is found by the President of the United States or his repre- sentative to be guilty of a violation of this section shall be removed from office by the President of the United States. and any appointee of said board who is found by the board to be guilty of a violation of this section shall be removed from office by said board. Persons employed by the Corporation shall not be ilncluded in making com- putations pursuant to the provisions of section 607 of the Federal 352 [63 STAT.