CONGRESSIONAL BILL NO. 18-145, C.D.1 P.C. NO. 18-254 1 2 3 4 PUBLIC LAW NO. 18-52 Authority. (1) The Authority shall be a body corporate with perpetual succession and a common seal. (2) The Authority may sue and be sued in its corporate 5 name, may enter into contracts, and may acquire, 6 purchase, take, hold and enjoy property of every 7 description. 8 surrender, yield up, charge, mortgage, lease, demise, 9 reassign, transfer or otherwise dispose of or deal with The Authority may convey, assign, 10 any property or any interest therein vested in the 11 Authority upon such terms as it sees fit. 12 13 14 (3) The Authority may act notwithstanding a vacancy among its members other than the Chief Executive.” Section 13. Title 21 of the Code of the Federated States of 15 Micronesia, as amended, is hereby further amended by adding a new 16 section 309 under chapter 3, to read as follows: 17 “Section 309. Procedure of the Authority. 18 (1) Where no additional members have been appointed, 19 the Chief Executive shall exercise all the functions and 20 powers of the Authority. 21 (2) Where additional members have been appointed, the 22 functions and powers of the Authority shall, subject to 23 section 311, be exercised by a quorum comprising the 24 Chief Executive and one other member. 25 the Authority including the Chief Executive shall have 21 of 119 Each member of