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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

14-15
14-15

20
18

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

14-15

13

14-15

15
10-11
17-18

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

12
May not be acquired or leased for more than 10 years for
housing--

12
Taxes, no exemption from
Valuation, certification of

10 (b)
Receipts from assessments deposited in Treasury-

19
Reconstruction Finance Corporation Act, amendment to,
section 2

6 (b)
Rediscounting of discounted notes..

11 (f)
Removal of member after hearing-

6 (i)
Reorganization of Federal home loan banks..

26
Repairs, advances to finance..

10a
Report, annual to Speaker of House of Representatives - 20
Reports, periodic, to Board from banks...

20
Reserve:
Addition of earnings to.

16
Impairment precludes dividends---

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

26
Owned by the United States..

6 (g)

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Subscription book, in each district.
Sutscription to eapital stock:

Original at:llert to each member.
Paviheut, casn or instalinent..

United States as subscriber..
Surtazes, no exemption from.

T Taxation, exemptions..

Oí real estate, no exemption from.-Transfer of capital stock:

In general..

To member or new member..
Treasury, deposits in....
Treasury Department, use of records of...

U
United States, the:

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

Subscription to stock by-
Unpaid principal, defined...
Unsecured advances, 1-year maturity.

V
Valuation of realty securing advances.
Virgin Islands, application of Act to.---

W Withdrawal of deposits in Treasury

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19

17-18

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 (1) 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

30-31
For repairs..

30-31
For taxes..

4

26-28
Sale of bonds, proceeds for.

4 (m 30-31
Agents, Corporation to select-

4 ()

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 (e), 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 (c) 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...

26-28
Appraiser:
Interested in subject matter---

4 (h)

29
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..

26-28
Association defined...

24
Association, Federal Savings and Loan.--

31-34
Attempt to charge illegal fee, penalty-

8

36
Attorneys, Corporation to select.

4 (1)

29
Authorized charges---

8 (e

36

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24 29-30 29-30

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24-26 24-26 29–30

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

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26-28

B

Section Balance, unpaid, interest on.

4 (d)

2 (a) Board, Federal Home Loan Bank. Determined reasonableness of annual tax burden.

4 (d) Direction of Corporation by-

4 (a) To liquidate the Corporation.

4 (k) To make bylaws for the Corporation.

4 (k) To make rules for appraisal..

4 (h) Bonds: Applicability of amendments to, limitation on.

4 (c) Corporation may issue and sell..

4 (c) Corporation to cancel -

4 (k) Crime to take difference between market and par value..

8 (e) Denominations of..

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

4 (c) Guaranty by Government, interest and principal -- 4 (c) 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) Maturity of

4 (c) 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) Purchase of by Corporation.

4 (c) Purchase of by Government.

4 (c) Refunding of, previously issued.

4 (c) Retirement of, payments of principal to be applied to---- 4 (k) Retirement of, with approval of Secretary of Treasury. 4 (c) Sale of, by Corporation..

4 Sale of, by GovernmentTaking difference between market and par value.

8 (e) Bonds issued in compliance with outstanding commitments. 4 (c) Bylaws of the Corporation, Board to make..

4 (k)

с Capital of Federal savings and loan associations.

5 (b) Capital stock of Corporation.

4 (b) Cash advanced to redeem foreclosed real estate.

4 (g) Cash advances: Eligibility for...

4 (m) For assessments.

4 (d) For enlargement.

4 (m) For expenses and repairs.

4 (d) For maintenance.

4 (m) For modernization.

4 (m) For rebuilding

4 (m) For rehabilitation.

4 (m) For repairs -

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

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4 (m) 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 value.

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

4 (e) Not to exceed 50 percent of real-estate value..

4 (e) Secured by home mortgages -

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

5 (b) Charge illegal fee, penalty.

8 (e) Charges authorized.

8 (e)

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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 (3)
Of personnel, will in no case exceed compensation of mem-
bers of the Board..

4 (1) 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 (n) 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 ()
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 (3) 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)

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