The Commission may adopt, alter, and use a corporate seal, which shall be judicially noticed.
The Commission may by action of the Board of Directors adopt, amend, and repeal bylaws governing the conduct of its general business and the performance of the powers and duties granted to or imposed upon it by law.
(c) Suits by and against Commission
The Commission may sue and be sued in its corporate name, except that—
(1)the amenability of the Commission to suit is limited by Article VIII of the Panama Canal Treaty of 1977, section
3761 of this title, and otherwise by law;
(2)an attachment, garnishment, or similar process may not be issued against salaries or other moneys owed by the Commission to its employees except as provided by section
5520a of title
5 and sections
662 of title
42, or as otherwise specifically authorized by the laws of the United States; and
(3)the Commission is exempt from the payment of interest on claims and judgments.
(d) Contracts, leases, agreements, or other transactions
The Commission may enter into contracts, leases, agreements, or other transactions.
(e) Obligations and expenditures
(1)may determine the character of, and necessity for, its obligations and expenditures and the manner in which they shall be incurred, allowed, and paid; and
(2)may incur, allow, and pay its obligations and expenditures, subject to pertinent provisions of law generally applicable to Government corporations.
(f) Priority in payment of debts out of bankrupt estates
The Commission shall have the priority of the Government of the United States in the payment of debts out of bankrupt estates.
(g) Appointment of notaries public
(1)The Commission may appoint any United States citizen to have the general powers of a notary public to perform, on behalf of Commission employees and their dependents outside the United States, any notarial act that a notary public is required or authorized to perform within the United States. Unless an earlier expiration is provided by the terms of the appointment, any such appointment shall expire three months after the Canal Transfer Date.
(2)Every notarial act performed by a person acting as a notary under paragraph (1) shall be as valid, and of like force and effect within the United States, as if executed by or before a duly authorized and competent notary public in the United States.
(3)The signature of any person acting as a notary under paragraph (1), when it appears with the title of that person’s office, is prima facie evidence that the signature is genuine, that the person holds the designated title, and that the person is authorized to perform a notarial act.
(h) Limitations on authority
The authority of the Commission under this section and section
3612b of this title is subject to the Panama Canal Treaty of 1977 and related agreements, and to chapter
91 of title
The table below lists the classification updates, since Jan. 3, 2012, for this section. Updates to a broader range of sections may be found at the update page for containing chapter, title, etc.
The most recent Classification Table update that we have noticed was Tuesday, August 13, 2013
An empty table indicates that we see no relevant changes listed in the classification tables. If you suspect that our system may be missing something, please double-check with the Office of the Law Revision Counsel.
Description of Change
Statutes at Large
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