There is established the Federal Housing Finance Oversight Board, which shall advise the Director with respect to overall strategies and policies in carrying out the duties of the Director under this chapter.
The Board may not exercise any executive authority, and the Director may not delegate to the Board any of the functions, powers, or duties of the Director.
The Board shall be comprised of 4 members, of whom-
The Board shall meet upon notice by the Director, but in no event shall the Board meet less frequently than once every 3 months.
Either the Secretary of the Treasury, the Secretary of Housing and Urban Development, or the Chairman of the Securities and Exchange Commission may, upon giving written notice to the Director, require a special meeting of the Board.
On an annual basis, the Board shall testify before Congress regarding-
12 U.S.C. § 4513a
EDITORIAL NOTES
REFERENCES IN TEXTThis chapter, referred to in subsec. (a), was in the original "this title", meaning title XIII of Pub. L. 102-550, 106 Stat. 3941, which is classified principally to this chapter. For complete classification of title XIII to the Code, see Short Title note set out under section 4501 of this title and Tables.
- Agency
- The term "Agency" means the Federal Housing Finance Agency established under section 4511 of this title.
- Board
- The term "Board" means the Federal Housing Finance Oversight Board established under section 4513a of this title.
- Director
- The term "Director" means the Director of the Bureau.