Page
16-17

O

Section
Oath of office, Federal Home Loan Bank Board members ---- 17
Obligations. (See also Bonds, Debentures):
Authority to issue.

11 (a)
United States not liable thereon.

15
Officers, bonding, compensation, dismissal, duties, employment,
and selection..

12
Organization certificate, filing of..

12
Organizations, eligibility of -

24 (a)
Overvaluation, willful, penalty for...

21 (a)

12
15-16

P

Payment, obligations acceptable in.

13

15
Penalties for unlawful acts..

21 (a), (b), (c), (d), (e) 18-19
Pledge of assets not permitted while debentures are out-
standing -

11 (b)

12
Powers. (See Federal Home Loan Bank Board-duties and

powers; Federal home loan banks-duties and powers.)
President of Federal Home Loan Bank eligible as director 12

14-15
President of the United States to appoint Chairman of the
Board.--

17

16-17
Public funds, Federal home loan bank may be depositary of. 14

15
Puerto Rico, application of Act to..

2 (3)

1
R
Real property:
May be leased, purchased, held, and disposed of ..

12

14-15
May not be acquired or leased for more than 10 years for
housing--

12

14-15
Taxes, no exemption from.

13

15
Valuation, certification of..

10 (b)

10-11
Receipts from assessments deposited in Treasury -

19

17-18
Reconstruction Finance Corporation Act, amendment to,
section 2...

6 (b)

3
Rediscounting of discounted notes.

11 (f)

12-13
Removal of member after hearing -

6 (i)

6
Reorganization of Federal home loan banks.

26

20
Repairs, advances to finance.

10a

11
Report, annual to Speaker of House of Representatives. 20

18
Reports, periodic, to Board from banks...

20

18
Reserve:
Addition of earnings to..

16

16
Impairment precludes dividends...

16

16
Retirement of capital stock:
On liquidation of Federal home loan bank..

26

20
Owned by the United States.-

6 (g)

5

e

Section Subscription book, in each district..

62) Sutsertion to earital stock:

Oriziral as inert to each member.
Parhezt, cash or installment..
Crited States as subscriber..

6 (1)

13 Surtaxes, no esemption from..

т Taxation, exemptions...

13 Of real estate, no exemption from.

13 Transfer of capital stock: In generai..-

6 (h) To mernber or new member.

60) Treasury, deposits in....

19 Treasury Department, use of records of ..

22 (a)

U
United States, the:

Eligibility of institutions organized under its laws..... 27
Mails, free use of.....

19 Subscription to stock by

6 0 Copaid principal, defined..

2 (7) Unsecured advances, 1-year maturity

11 (8)

V Valuation of realty securing advances.

10 (6) Virgin Islands, application of Act to...

2 (3)

iii

INDEX

HOME OWNERS' LOAN ACT OF 1933, AS AMENDED

A

Section Page
Act, application to United States, Alaska, Hawaii, Puerto
Rico, and the Virgin Islands..

7

35
Act, Home Owners' Loan, of 1933..
Act to guarantee bonds of Corporation.-
Additional advance...,

4 (m)

30
Additional appropriation for encouragement of saving and
home financing-

6

34-35
Additional ļien, mortgage, or conveyance may be taken by
Corporation.-

4 (m)

30
Advances:
And bonds not to exceed $14,000...

4 (d) 26-23
And bonds not to exceed 80 percent of real-estate value.. 4 (d) 26-28
Cash loan, not to exceed 50 percent of real-estate value-- 4 (e)

28
Cash, not exceeding 40 percent of real-estate value--- 4 (f) 28-29
Eligibility for..

4 (m

30-31
For assessments..

4 (d) 26-28
For enlargement.

4 (m) 30-31
For expenses and repairs.

4 (d)

26-28
For maintenance..

4 (m) 30-31
For modernization.

4 (m) 30-31
For rebuilding-

4 (m) 30-31
For rehabilitation.

4 (m) 30-31
For repairs --

4 (m) 30-31
For taxes..

4 (d) 26-28
Sale of bonds, proceeds for.

4 (m)

30-31
Agents, Corporation to select-

4 (j)

29
Alaska, application of Act to.--.

7

35
Allocation of funds for Government stock subscription. 4 (b)

24
Altering, penalty for false---

8 (b) (3) 35
Amendments in section 4 (c), application of.

4 (c), f.n.3 24-26
Amendment to Federal Home Loan Bank Act.
Amortization ---

4 (d) 26-28
Annual payments.

4 (d)

26-28
Application for exchange of bonds previously issued..

4

24-26
Application of Act to United States, Alaska, Hawaii, Puerto
Rico, and the Virgin Islands.-

7

35
Application of amendments in section 4 (c).

4 (c), f.n.3 24-26
Application of United States Criminal Code.

8 (d)

36
Applications received for 30 days ----

4 (c) 24-26
Appraisal, Board to make rules for..

4 (h)

29
Appraisal, Corporation to make..

4 (d) 26-28
Appraiser:
Interested in subject matter...

4 (h)
Employee of company if interested in subject matter.

4 (h)

29
Appropriation, additional for encouragement of saving and
home financing--

6

34-35
Assessment advances.

4 (d) 26-28
Association defined..

2 (d)

24
Association, Federal Savings and Loan..

5

31-34
Attempt to charge illegal fee, penalty-

8 (e)

36
Attorneys, Corporation to select.

4 (j)

29
Authorized charges...

8 (e)

36

29

Page 26-28

23 26-28

24 29-30 29-30

29

24-26 24-26 29-30

36 24-26 28-29 24-26 24 26

4 (c)

24-26 24-26

24-26 24-26 26–28

26-28

B

Section

4 (d) Balance, unpaid, interest on..

2 (a) Board, Federal Home Loan Bank.

4 (d) Determined reasonableness of annual tax burden. Direction of Corporation by

4 (a)

4 (k) To liquidate the Corporation.. To make bylaws for the Corporation.

4 (k) To make rules for appraisal.

4 (h) Bonds:

4 (c) Applicability of amendments to, limitation on.

4 (C) Corporation may issue and sell.-..

4 (k) Corporation to cancel --

8 (e) Crime to take difference between market and par value.-

4 (c) Denominations of .--.

4 (g) Exchange of, in redemption of foreclosed real estate... Exemption from taxation of ..

4 (c) Guaranty by Government, interest and principal.. Issuance of, increase of for refunding bonds previously issued..

4 (c) Interest on.

4 (c) Lawful investment in, for fiduciary, trust, and public funds...

4 (c)

4 (c) Maturity of Not to exceed $14,000 with advances.

4 (d) Not to exceed 80 percent of the real-estate value, with advances -

4 (d) Of Corporation acceptable at face value in payment of debt to Corporation

4 (i) Payment of by Government

4 (c)

4 (c) Purchase of by Corporation

4 (c) Purchase of by Government

4 (c)
Refunding of, previously issued.
Retirement of, payments of principal to be applied to.--- 4 (k)
Retirement of, with approval of Secretary of Treasury-

4 (C)

4 (C) Sale of, by Corporation..

4 (c) Sale of, by Government.-

8 (e) Taking difference between market and par value..

4 (c) Bonds issued in compliance with outstanding commitments.

4 (k) Bylaws of the Corporation, Board to make...

С

5 (b) Capital of Federal savings and loan associations..

4 (b) Capital stock of Corporation.

4 (g) Cash advanced to redeem foreclosed real estate... Cash advances:

4 (m) Eligibility for.--. For assessments.

4 (d)

4 (m) For enlargement.

4 (d) For expenses and repairs. For maintenance.

4 (m) For modernization.

4 (m) For rebuilding

4 (m) For rehabilitation..

4 (m)

4 (m) For repairs.-For taxes.

4 (d) Cash advances and bonds not to exceed $14,000.

4 (d) Cash advances and bonds not to exceed 80 percent of real-estate

4 (d) value.

4 (f) Cash advances not to exceed 40 percent of real-estate value.

4 (e) Cash loans.

4 (e) Not to exceed 50 percent of real-estate value. Secured by home mortgages.

4 (e) Certificates of indebtedness, Federal savings and loan associations.-

i !!

29 24-26 24-26 24-26 24-26 29-30 24-26 24-26 24-26

36 24-26 29-30

31

24 28-29

30 26-28

30 26-28

30 30 30 30

30 26-28 26-28

26-28 28-29

28

28

28 Page

31 36

24-62

29

29

30 26-28 26-28 26-28

Section Chartering of Federal savings and loan associations.

5 (a) Code, application of United States Criminal ---

8 (d) Commitments outstanding on effective date of amendment to sec. 4 (c)..

4 (c)
Compensation:
Of personnel, to be fixed by the Board.

4 (j)
Of personnel, will in no case exceed compensation of mem-
bers of the Board..

4 (j) Conservator of associations, appointment of..

5 (d) Consolidation of Federal savings and loan associations

5 (d) Contract for illegal charge, penalty --

8 (e) Conversion to Federal savings and loan association.

5 (i) Conveyance, additional to be taken by Corporation.

4 (m) Corporation: Board to liquidate.

4 (k) Bonds acceptable in payment of debts to the Corporation. 4 (i) Capital stock of..-

4 (b) Creation of Home Owners' Loan..

4 Definition of

2 (b) Exemption from taxation of

4 (c) Free use of mails by..

4 (j) Liquidation of

4 (k) Home Owners' Loan..

2 (b) Make deposits in member of bank or institutions with insured accounts.

4 (n) May acquire home mortgages.

4 (d) May issue, sell, and purchase bonds..

4 (c) May make advances for enlargement, maintenance,

modernization, rebuilding, rehabilitation, and repairs... 4 (m) May make advances for expenses and repairs.

4 (d) May make assessment advances.

4 (d)
May make tax advances..

4 (d)
May purchase:
Bonds of Federal home loan banks.

4 (n)
Certificates of deposit and investment certificates..

4 (n) Full-paid income shares of associations..

4 (n) Shares in institutions with insured accounts.

4 Shares in member of bank...

4 (n) May use facilities of the Federal home loan banks. 4 (j) Real property subject to taxation.

4 (c) Rules and regulations to be made by the Board..

4 (k) To cancel bonds.

4 (k) To determine necessary expenditures

4 (j) To fix compensation of personnel.

4 (j)
To make appraisals.--

4 (d)
To make reasonable compensation for use of bank facili-
ties...

4 (j)
To pay dividends to the United States.

4 (k) To pay proportionate share of expenses of the Board 4 (j) To retire stock.

4 (k) To select employees, officers, attorneys, and agents. 4 (j) Counterfeiting, penalty for.

8 (b) (1) Creation of Home Owners' Loan Corporation.-

4 Crime to take difference between market and par value- 8 (e) Criminal Code, application of United States.

8 (d)

D Deceiving, penalty for..

8 (c) (2) Deductions from loanable value for public assessments.

4 (d) Default due to unemployment, economic condition, misfortune. 4 (1) Default, involuntary on June 13, 1933_

4 (1) Default, taxing districts in.

4 (d) Definitions.

2 Defrauding, penalty for...

8 (c) (2) Denominations of bonds.

4 (c) Deposits of Federal savings and loan associations..

5 (b)

31 31 31 31 31

29 24-26 29-30 29-30

29

29 26-28

29 29-30 29 29-30

29

35 24-31

36 36

35-36 26-28

30

30 26-28 23-24 35-36 24-26

31