Source: http://fsmlaw.org/fsm/code/code2014/FSMCode2014Tit29Chap02.html
Timestamp: 2018-01-24 11:45:21
Document Index: 523860088

Matched Legal Cases: ['§ 209', '§ 2', '§ 3', '§ 6', '§ 3', '§ 4']

FSMCode2014Tit29Chap02
§ 209. Indemnity.
(2) All appointments shall be for a term of four years, provided however, that, unless otherwise provided by the President, all rights and powers of a Banking Board member shall be maintained by each member until the appointment of such member's successor. Banking Board members shall be eligible for reappointment.
Source: PL 9-130 § 2; PL 13-56 § 3.
The Banking Board shall be responsible for its policy and affairs, shall have the powers conferred upon it by this subtitle and may issue directives for the purpose of giving effect to the provisions of this Act.
(2) The Banking Board shall also make up and publish a consolidated statement of assets and liabilities of the Federated States of Micronesia banking system not less frequently than quarterly, and send copies of the statement to the President and the Speaker of the Congress. The Banking Board may also publish from time to time a consolidated statement of assets and liabilities of the Federated States of Micronesia banking system showing figures separately by state.
Source: PL 9-130 § 6; PL 12-57 § 3.
(1) The President shall appoint a person to be Banking Commissioner, who shall serve as the Chief Executive Officer of the Banking Board, responsible to it for the execution of its policy and the performance of duties and exercise of powers conferred by this subtitle.
(4) The Banking Commissioner shall, except as may otherwise be provided in this subtitle or the resolutions of the Banking Board, have the power to act and sign instruments and documents on behalf of the Banking Board.
The Banking Board and the Banking Commissioner shall be entitled to utilize the services of the Public Auditor and such independent accountants, lawyers, and other experts as they may select in carrying out their powers and duties under this subtitle. The President of the Federated States of Micronesia shall provide such administrative support and staff as may be needed to conduct the business of the Banking Board.
Cross-reference: The statutory provisions on the President and the Executive are found in title 2 of this code. Chapter 5 of title 55 of this code is on the Public Auditor.
The FSM Supreme Court website contains court decisions, rules, calendars, and other information of the court, the Constitution, the code of the Federated States of Micronesia, and other legal resource information at http://www.fsmsupremecourt.org/.
Neither the Banking Board nor any of its members, the Banking Commissioner, employee or any person duly appointed to assist the Banking Board in carrying out its powers and duties under this subtitle shall incur any liability as a result of anything done in good faith in the exercise of any power or the performance of any duty under this subtitle.
Source: PL 12-57 § 4.