§ 831a. — Directors of the Authority.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 16USC831a]
TITLE 16--CONSERVATION
CHAPTER 12A--TENNESSEE VALLEY AUTHORITY
Sec. 831a. Directors of the Authority
(a) Composition of board; appointment and designation
The board of directors of the Corporation (hereinafter referred to
as the ``board'') shall be composed of three members, to be appointed by
the President, by and with the advice and consent of the Senate. In
appointing the members of the board, the President shall designate the
chairman. All other officials, agents, and employees shall be designated
and selected by the board.
(b) Terms of office; successors
The terms of office of the members first taking office after May 18,
1933, shall expire as designated by the President at the time of
nomination, one at the end of the third year, one at the end of the
sixth year, and one at the end of the ninth year, after May 18, 1933. A
successor to a member of the board shall be appointed in the same manner
as the original members and shall have a term of office expiring nine
years from the date of the expiration of the term for which his
predecessor was appointed.
(c) Vacancies
Any member appointed to fill a vacancy in the board occurring prior
to the expiration of the term for which his predecessor was appointed
shall be appointed for the remainder of such term.
(d) Quorums
Vacancies in the board, so long as there shall be two members in
office, shall not impair the powers of the board to execute the
functions of the Corporation, and two of the members in office shall
constitute a quorum for the transaction of the business of the board.
(e) Citizenship; compensation; Government housing; reimbursement for
expenses; outside business
Each of the members of the board shall be a citizen of the United
States. The compensation of each member of the board shall be paid by
the Corporation as current expenses. Each member of the board, in
addition to his salary, shall be permitted to occupy as his residence
one of the dwelling houses owned by the Government in the vicinity of
Muscle Shoals, Alabama, the same to be designated by the President of
the United States. Members of the board shall be reimbursed by the
Corporation for actual expenses (including traveling and subsistence
expenses) incurred by them in the performance of the duties vested in
the board by this chapter. No member of said board shall, during his
continuance in office, be engaged in any other business, but each member
shall devote himself to the work of the Corporation.
(f) Conflicts of interest
No director shall have financial interest in any public-utility
corporation engaged in the business of distributing and selling power to
the public nor in any corporation engaged in the manufacture, selling,
or distribution of fixed nitrogen or fertilizer, or any ingredients
thereof, nor shall any member have any interest in any business that may
be adversely affected by the success of the Corporation as a producer of
concentrated fertilizers or as a producer of electric power.
(g) Function of board
The board shall direct the exercise of all the powers of the
Corporation.
(h) Confidence in the Authority
All members of the board shall be persons who profess a belief in
the feasibility and wisdom of this chapter.
(May 18, 1933, ch. 32, Sec. 2, 48 Stat. 59.)
Codification
Provisions covering the compensation of members of the board have
been omitted as compensation of the Chairman and members of the board is
covered by sections 5314 and 5315 of Title 5, Government Organization
and Employees.
Emergency Preparedness Functions
For assignment of certain emergency preparedness functions to Board
of Directors of Tennessee Valley Authority, see Parts 1, 2, and 24 of
Ex. Ord. No. 12656, Nov. 18, 1988, 53 F.R. 47491, set out as a note
under section 5195 of Title 42, The Public Health and Welfare.
