Article X: Legal Status, Immunities, Exemptions and Privileges

1. The Institute, as a subsidiary body of the Bank, shall enjoy the immunities, exemptions and privileges provided in Chapter VIII of the Charter.
2. The Institute may, under the authority of the Dean, enter into contracts with organizations, institutions, firms or individuals for the purpose of carrying out its programs. The Institute may acquire and dispose of movable and immovable property and may take other legal action necessary to the performance of its functions. Such contracts and other obligations and liabilities of the Institute shall be obligations and liabilities of the Institute and not obligations and liabilities of the Bank. The liabilities and obligations of the Institute, subject to applicable privileges and immunities, shall be limited to the assets of the Institute and of the Institute Special Fund.