- § 2401. Establishment of Commission
- § 2402. Membership of Commission
- § 2403. Functions of Commission
- § 2404. Powers of Commission
- § 2405. Executive Director and additional staff personnel; appointment and compensation; experts and consultants; employment and compensation; audits by Comptroller General
- § 2406. Compensation of members of Commission
- § 2407. Cooperation and assistance of other Federal departments, agencies, and instrumentalities
- § 2408. Authorization of appropriations
There is established the National Commission on Electronic Fund Transfers (hereinafter referred to as the “Commission”) which shall be an independent instrumentality of the United States.
The Chairperson shall be designated by the President at the time of his appointment from among the members of the Commission and such selection shall be by and with the advice and consent of the Senate unless the appointee holds an office to which he was appointed by and with the advice and consent of the Senate.
A vacancy in the Commission shall be filled in the manner in which the original appointment was made.
The Commission shall make an interim report within one year of the date of the confirmation by the Senate of the Chairperson or the appointment by the President of an acting Chairperson and at such other times as it deems advisable and shall transmit to the President and to the Congress not later than two years after the date of the confirmation by the Senate of the Chairperson or the appointment by the President of an acting Chairperson, a final report of its findings and recommendations. Any such report shall include all hearing transcripts, staff studies, and other material used in preparation of the report. The interim and final reports shall be made available to the public upon transmittal. Sixty days after transmission of its final report the Commission shall cease to exist.
The Commission shall not be required to obtain the clearance of any Federal agency prior to the transmittal of any interim or final report.
The Commission may for the purpose of carrying out this chapter hold such hearings, sit and act at such times and places, take such testimony, and receive such evidence, as the Commission may deem advisable. The Commission may administer oaths of 1
When so authorized by the Commission, any member or agent of the Commission may take any action which the Commission is authorized to take by this section.
The Commission may secure directly from any department or agency of the United States information necessary to enable it to carry out this chapter. Upon request of the Chairperson of the Commission, the head of such department or agency shall furnish such information to the Commission.
There are authorized to be appropriated without fiscal year limitations such sums, not to exceed $2,000,000, as may be necessary to carry out the provisions of this chapter.