US Code Title 15 Section 77

CITE

    15 USC Sec. 77dd                                            01/08/2008

EXPCITE

    TITLE 15 - COMMERCE AND TRADE
    CHAPTER 2A - SECURITIES AND TRUST INDENTURES
    SUBCHAPTER II - FOREIGN SECURITIES

HEAD

    Sec. 77dd. Powers and duties of Corporation, generally

STATUTE

      The Corporation shall have power to adopt, alter, and use a
    corporate seal; to make contracts; to lease such real estate as may
    be necessary for the transaction of its business; to sue and be
    sued, to complain and to defend, in any court of competent
    jurisdiction, State or Federal; to require from trustees, financial
    agents, or dealers in foreign securities information relative to
    the original or present holders of foreign securities and such
    other information as may be required, and to issue subpenas
    therefor; to take over the functions of any fiscal and paying
    agents of any foreign securities in default; to borrow money for
    the purposes of this subchapter, and to pledge as collateral for
    such loans any securities deposited with the Corporation pursuant
    to this subchapter; by and with the consent and approval of the
    Commission to select, employ, and fix the compensation of officers,
    directors, members of committees, employees, attorneys, and agents
    of the Corporation, without regard to the provisions of other laws
    applicable to the employment and compensation of officers or
    employees of the United States; to define their authority and
    duties, require bonds of them and fix the penalties thereof, and to
    dismiss at pleasure such officers, employees, attorneys, and
    agents; and to prescribe, amend, and repeal, by its board of
    directors, bylaws, rules, and regulations governing the manner in
    which its general business may be conducted and the powers granted
    to it by law may be exercised and enjoyed, together with provisions
    for such committees and the functions thereof as the board of
    directors may deem necessary for facilitating its business under
    this subchapter. 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.

SOURCE

    (May 27, 1933, ch. 38, title II, Sec. 203, 48 Stat. 93.)