Director of the Board. (3) Terms Each member shall serve a term of 5 years, except that, of the members first appointed, 1 shall serve a term of 1 year, one shall serve a term of 2 years, one shall serve a term of 3 years, one shall serve a term of 4 years, and one shall serve a term of 5 years. Each member of the Board may serve up to 2 consecutive terms. (c) Funding Administrative expenses incurred to carry out this part shall be paid first out net earnings in the UP Account Fund. 804. UP Account Fund (a) In general There is established in the Treasury of the United States an UP Account Fund. (b) Funds The UP Account Fund shall consist of all amounts contributed by participants, and employees on behalf of participants, into UP Retirement Accounts and UP Savings Accounts, increased by the total net earnings from investments of sums in the UP Account Fund or reduced by the total net losses from investments of the UP Account Fund, and reduced by the total amount of payments made from the UP Account Fund (including payments for administrative expenses). (c) Permissible uses of funds The sums in the UP Account Fund are appropriated and shall remain available without fiscal year limitation— (1) to invest in accordance with section 805(h)