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U.S. Code as of:
01/19/04
Section 2289. General powers
The Bank shall have power -
(1) to sue and be sued, complain, and defend, in its corporate
name;
(2) to adopt, alter, and use a corporate seal, which shall be
judicially noticed;
(3) to adopt, amend, and repeal bylaws, rules, and regulations
as may be necessary for the conduct of its business;
(4) to conduct its business, carry on its operations, and have
offices and exercise the powers granted by this chapter in any
State without regard to any qualification or similar statute in
any State;
(5) to lease, purchase, or otherwise acquire, own, hold,
improve, use, or otherwise deal in and with any property, real,
personal, or mixed, or any interest therein, wherever situated;
(6) to accept gifts or donations of services, or of property,
real, personal, or mixed, tangible or intangible, in aid of any
of the purposes of the Bank;
(7) to sell, convey, mortgage, pledge, lease, exchange, and
otherwise dispose of its property and assets;
(8) to appoint such officers, attorneys, employees, and agents
as may be required, to define their duties, to fix and to pay
such compensation for their services as may be determined,
subject to the civil service and classification laws, to require
bonds for them and pay the premium thereof;
(9) to enter into contracts, to execute instruments to incur
liabilities, and to do all things as are necessary or incidental
to the proper management of its affairs and the proper conduct of
its business;
(10) to act through any corporate or other agency or
instrumentality of the United States, and to utilize the services
thereof on a reimbursable basis, and any such agency or
instrumentality is authorized to provide services as requested by
the Bank; and
(11) to determine the character of and the necessity for its
obligations and expenditures, and the manner in which they shall
be incurred, allowed, and paid, subject to provisions of law
specifically applicable to Government corporations.
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