§283a. Appointment of officers; term of office; salary

(a) Governor and alternate governor

The President, by and with the advice and consent of the Senate, shall appoint a governor of the Bank and an alternate for the governor. The term of office for the governor and the alternate governor shall be five years, but each shall remain in office until a successor has been appointed.

(b) Executive director and alternate executive director

The President, by and with the advice and consent of the Senate, shall appoint an executive director of the Bank and an alternate Executive Director. Except as provided for in article XV, section 3, of the agreement, the term of office for the executive director shall be three years, but he shall remain in office until a successor has been appointed.

(c) Compensation

No person shall be entitled to receive any salary or other compensation from the United States for services as a governor, alternate governor, or executive director.

( Pub. L. 86–147, §3, Aug. 7, 1959, 73 Stat. 299 ; Pub. L. 91–599, ch. 2, §21(b), Dec. 30, 1970, 84 Stat. 1658 .)

Editorial Notes

Amendments

1970-Subsec. (b). Pub. L. 91–599 authorized appointment of an alternate Executive Director.