Except as otherwise specifically provided in this chapter, the Corporation-
The Board shall select a treasurer and as many assistant treasurers as it deems proper: Provided, That any member of said Board may be removed from office at any time by a concurrent resolution of the Senate and the House of Representatives.
16 U.S.C. § 831c
CODIFICATION"Sections, , and of title 40" substituted in subsec. (i) for "the Act of February 26, 1931 (46 Stat. 1422 ch. 307 secs. 1 to 5, inclusive), as now compiled in section 258a to 258e, inclusive, of Title 40 of the United States Code" on authority of Pub. L. 107-217, §5(c), Aug. 21, 2002, 116 Stat. 1303, the first section of which enacted Title 40, Public Buildings, Property, and Works. Subsec. (j), last sentence, directed the directors of the Authority to report their recommendations to Congress not later than April 1, 1936, and has been omitted as executed.
AMENDMENTS2004-Subsecs. (f), (i). Pub. L. 108-447 substituted "Board" for "board" wherever appearing.1972-Subsec. (f). Pub. L. 92-310 struck out provisions which required the treasurer and assistant treasurers to give bonds for the safekeeping of securities and moneys of the Corporation.1941-Subsec. (k). Act July 18, 1941, amended subsec. (k) generally. 1935-Subsec. (i). Act Aug. 31, 1935, §1, inserted proviso.Subsec. (j). Act Aug. 31, 1935, §2, amended subsec. (j) generally.Subsec. (k). Act Aug. 31, 1935, §3, added subsec. (k).Subsec. (l). Act Aug. 31, 1935, §13, added subsec. (l).
STATUTORY NOTES AND RELATED SUBSIDIARIES
CHANGE OF NAMEDepartment of War designated Department of the Army and title of Secretary of War changed to Secretary of the Army by section 205(a) of act July 26, 1947, ch. 343, title II, 61 Stat. 501. Section 205(a) of act July 26, 1947, was repealed by section 53 of act Aug. 10, 1956, ch. 1041, 70A Stat. 641. Section 1 of act Aug. 10, 1956, enacted "Title 10, Armed Forces" which in sections 3010 to 3013 continued military Department of the Army under administrative supervision of Secretary of the Army.
EFFECTIVE DATE OF 2004 AMENDMENT Amendment by Pub. L. 108-447 effective on the later of the date on which at least three persons nominated under section 604(a) of Pub. L. 108-447 take office or May 18, 2005, see section 604(b) of Pub. L. 108-447 set out in an Appointments; Effective Date; Transition note under sectionof this title.
RELEASE OF USE RESTRICTIONS Pub. L. 113-121, title VI, §6005(h), June 10, 2014, 128 Stat. 1360, provided that: "Notwithstanding any other provision of law, the Tennessee Valley Authority shall, without monetary consideration, grant releases from real estate restrictions established pursuant to section 4(k)(b) of the Tennessee Valley Authority Act of 1933 ( 16 U.S.C. 831c(k)(b) ) with respect to tracts of land identified in section 4(k)(b) of that Act, subject to the condition that such releases shall be granted in a manner consistent with applicable Tennessee Valley Authority policies."
DELEGATION OF FUNCTIONSAuthority of President under subsec. (k) of this section to approve transfers under subsecs. (a) and (c) of this section, other than leases for terms of less than 20 years and conveyances of property having a value not in excess of $500, delegated to Administrator of General Services, see section 1(16) of Ex. Ord. No. 11609, July 22, 1971, 36 F.R. 13747, set out as a note under sectionof Title 3, The President.