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Co-Authored-By: Claude Opus 4.8 <noreply@anthropic.com>
2026-07-06 10:51:44 -04:00

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LegalText 12 U.S.C. § 2405 Executive Director and additional staff personnel; appointment and compensation; experts and consultants; employment and compensation; audits by Comptroller General us united_states_code code_section 12 BANKS AND BANKING 25 NATIONAL COMMISSION ON ELECTRONIC FUND TRANSFERS 2405 12 U.S.C. § 2405 current 119-100 2026-06-26 official https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc12@119-100.zip /us/usc/t12/s2405 data/legal/raw/us/code/title-12/usc12.xml 488b117f55aff1a5920d0e0eb8c0ec0676c860f3099d4814d554e18fe15aff83 e6b98700ef4156ac33fde5d105824845d727afa91a53f3762be2cf4d1a3b01fa da7b086b75ff49cd60c3ba7c82658cac7c962c861652dad48af38a6936129d79 2026-07-04 official
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12 U.S.C. § 2405 - Executive Director and additional staff personnel; appointment and compensation; experts and consultants; employment and compensation; audits by Comptroller General

Text

(a) The Commission—

(1) may appoint with the advice and consent of the Senate and fix the compensation of an Executive Director, and such additional staff personnel as he deems necessary, without regard to the provisions of title 5 governing appointments in the competitive service, and without regard to chapter 51 and subchapter III of chapter 53 of such title relating to classification and General Schedule pay rates, but at rates not in excess of the maximum rate for GS18 of the General Schedule under section 5332 of such title; and

(2) may procure temporary and intermittent services to the same extent as is authorized by section 3109 of title 5, but at rates not to exceed $150 a day for individuals.

(b) The Comptroller General is authorized to make detailed audits of the books and records of the Commission, and shall report the results of any such audit to the Commission and to the Congress.

(Pub. L. 93495, title II, § 205, Oct. 28, 1974, 88 Stat. 1510.)

Notes

Statutory Notes and Related Subsidiaries

References in Other Laws to GS16, 17, or 18 Pay RatesReferences in laws to the rates of pay for GS16, 17, or 18, or to maximum rates of pay under the General Schedule, to be considered references to rates payable under specified sections of Title 5, Government Organization and Employees, see section 529 [title I, § 101(c)(1)] of Pub. L. 101509, set out in a note under section 5376 of Title 5.