74TH CONGRESS . SESS . I. CH. 614. AUGUST 23, 1935 .
693 preve nt the a ppointme nt and c ompensat ion as a n office r or emp loyee of the Corporation of any officer or employee of the United States in any board, commission, independent establishment, or executive department thereof . " Sixth. To prescribe by its board of directors, bylaws not incon- Bylaw s . sistent with law, regulating the manner in which its general business may be conducted, and the privileges granted to it by law may be exercised and enjoyed . " Seve nth . To exerci se by its boa rd of director s, or duly au thorized Exer cise of powe rs . officers or agents, all powers specifically granted by the provisions of this section and such incidental powers as shall be necessary to carry out the powers so granted . " Ei ght h . To make examinations of and to require information Exam inati ons . and reports from banks, as provided in this section . " Ninth . To act as receiver .
Act as receiver . " Tenth . To prescribe by its board of directors such rules and re u- Rules and regula- lations as it may deem neessary to carry out the provisions of his tions. section . C4 (k) (1) The board of directors shall administer the affairs of the Administration of Corporation . Corporation fairly and impartially and without discrimination . The board of directors of the Corporation shall determine and prescribe the manner in which its obligations shall be incurred and its expenses allowed and paid . The Corporation shall be entitled to the free use Fran king pri vile ge . of the United States mails in the same manner as the executive departments of the Government . The Corporation with the consent er i agn ti n of Fed- of any Federal Reserve bank or of any board, commission, inde- pendent establishment, or executive department of the Government, including any field service thereof, may avail itself of the use of information, services, and facilities thereof in carrying out the provisions of this section . "(2 ) The board of directors shall appoint examiners who shall Examiners ; appoint . have power, on behalf of the Corporation, to examine any insured mea t and powe rs . Stat e non member bank (except a District bank), any State non- member bank making application to become an insured bank, and any closed insured bank, whenever in the judgment of the board of direc- tors an examination of the bank is necessary . Such examiners shall have like power to examine, with the written consent of the Comp- troller of the Currency, any national bank or District bank, and, with the written consent of the Board of Governors of the Federal Reserve System, any State member bank . Each such examiner shall have power to make a thorough examination of all the affairs of the bank and in doing so he shall have power to administer oaths and to examine and take and preserve the testimony of any of the officers and agents thereof, and shall make a full and detailed report of the condition of the bank to the Corporation . The board of directors in Claim agents ; ap- like manner shall appoint claim agents who shall have power to poi ntment and powers . inves tigate a nd exami ne all c laims fo r insure d deposi ts and t rans- ferred deposits . Each claim agent shall have power to administer oaths and to examine under oath and take and preserve the testimony of any pers ons rela ting to such cla ims . The provisions o f sections 184 p, a. S, sec:, P 186' to 186 (both inclusive) of the Revised Statutes (U . S . C ., title 5, secs. 94 to 96) are hereby extended to examinations and investigations authorized by this paragraph . "(3) Each insured State nonmember bank (except a District bank) Reports of insured State nonmember shall make to the Corporation reports of condition in such form and banks . at such times as the board of directors may require . The boa rd of publ icat ion . direc tors may require such re ports to be publ ished in such ma nner, not inconsistent with any applicable law, as it may direct . Ev ery Pena lty on failure to such bank which fails to make or publish any such report within publish .
