§ 3612a — General Powers Of Commission

(a) The Commission may adopt, alter, and use a corporate seal, which shall be judicially noticed. (b) 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) 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) 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) The Commission may enter into contracts, leases, agreements, or other transactions. (e) The Commission— (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) The Commission shall have the priority of the Government of the United States in the payment of debts out of bankrupt estates. (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) 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 31.