Except as otherwise provided by this chapter, the Board shall have all the usual powers and obligations of a trustee with respect to property and funds administered by it, but the members of the Board are not personally liable, except for malfeasance.

(Pub. L. 90–620, Oct. 22, 1968, 82 Stat. 1292; Pub. L. 98–497, title II, § 202(a), Oct. 19, 1984, 98 Stat. 2293.)

Historical and Revision Notes

Based on 44 U.S. Code, 1964 ed., § 300ff (July 9, 1941, ch. 284, § 6, 55 Stat. 582).

Editorial Notes

Amendments

1984—Pub. L. 98–497 amended section generally, inserting “Except as otherwise provided by this chapter,”.

Statutory Notes and Related Subsidiaries

Effective Date of 1984 Amendment

Amendment by Pub. L. 98–497 effective Apr. 1, 1985, see section 301 of Pub. L. 98–497, set out as a note under section 2102 of this title.