PUBLIC LAW 102-552 —OCT. 28, 1992 106 STAT. 4105 "(4) RULES; RECORDS. —The Board shall adopt such rules as the Board considers appropriate for the transaction of business by the Board, and shall keep permanent and accurate records and minutes of the actions and proceedings of the Board. "(d) COMPENSATION. — "(1) IN GENERAL. —The members of the Board shall devote their fall time and attention to the business of the Board. (2) CHAIRPERSON.—The Chairperson of the Board shall receive compensation at the rate prescribed for level III of the Executive Schedule under section 5314 of title 5, United States Code. %3) OTHER MEMBERS.— Each of the other members of the Board shall receive compensation at the rate prescribed for level IV of the Executive Schedule under section 5315 of title 5, United States Code. "(4) EXPENSES.— Each member of the Board shall be reimbursed for necessary travel, subsistence, and other expenses in the discharge of the official duties of the member without regard to other laws with respect to allowance for travel and subsistence of officers and employees of the United States. ". (b) CONFORMING AMENDMENTS.— (1) CHAIRPERSON.—Section 5314 of title 5, United States Code, is amended by adding at the end the following new item: "Chairperson, Board of Directors of the Farm Credit System Insurance Corporation.". (2) MEMBERS.— Section 5315 of such title is amended by adding at the end the following new item: "Members, Board of Directors of the Farm Credit System Insurance Corporation.". (c) EFFECTIVE DATE. — 12 USC 2277a-2 (1) IN GENERAL. —The amendments made by this section shall become effective on January 1, 1996. (2) TRANSITIONAL PROVISION. —The Board of Directors of the Farm Credit System Insurance Corporation as established by section 5.53 of the Farm Credit Act of 1971 (12 U.S.C. 2277a-2) (as it existed before the amendments made by subsection (a) of this section) shall continue in existence and continue to manage the Farm Credit System Insurance Corporation until at least two members are appointed by the President, by and with the advice and consent of the Senate, to the new Board established by section 5.53 of such Act (as amended by subsection (a) of this section). SEC. 202. STATUTORY SUCCESSOR TO ASSISTANCE BOARD AGREE- BfENTS. (a) IN GENERAL.— Section 5.58(2) (12 U.S.C. 2277a-7(2)) is amended by adding at the end the following new sentence: "The Corporation shall succeed to the rights of the Farm Credit System Assistance Board under agreements between the Farm Credit System Assistance Board and System institutions certifying the institutions as eligible to issue preferred stock pursuant to title VI on the termination of the Assistance Board on the date provided in section 6.12.". note.
�
