To provide that certain functions of the Comptroller of the Currency which relate to building associations organized in, or doing business in, the District of Columbia shall hereafter be performed by the Home Loan Bank Board, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That section 691 of the Act of March 3, 1901, entitled "An Act to establish a code of law for the District of Columbia", as amended (D. C. Code, sec. 26–404), is hereby amended (1) by striking out "the Comptroller of the Currency, in addition to the powers conferred upon him by law for the examination of national banks, is further authorized, whenever he may deem it useful", and by inserting in lieu thereof "the Home Loan Bank Board is authorized, whenever such Board may deem it useful”; (2) by striking out "not exceed the sum of twenty-five dollars for the first five hundred thousand dollars or fractional part thereof of assets and the sum of ten dollars for each additional two hundred and fifty thousand dollars or fractional part thereof of assets, and"; (3) by striking out "The said comptroller shall also have power to take possession of any company or association whenever in his judgment it is insolvent or is knowingly violating the laws under which such company is incorporated, and to liquidate the same in the manner provided in the laws of the United States in respect to national banks:", and by inserting in lieu thereof "The Home Loan Bank Board shall also have power to take possession of any company or association whenever in the Board's judgment any such company or association is insolvent or is knowingly violating the laws under which it is operated and to liquidate the same in the manner provided in rules and regulations which said Board is hereby authorized to adopt, and said Board may also provide in such rules and regulations a procedure for the voluntary liquidation of any such company or association; and if any such company or association which has not gone into liquidation and for which a receiver has not already been appointed for other lawful cause shall discontinue its operations for a period of sixty days, the Home Loan Bank Board may, if such Board deems it advisable, appoint a receiver for such company or association:"; (4) by striking out "Comptroller of the Currency" wherever appearing in such section and by inserting in lieu thereof "Home Loan Bank Board"; and (5) by striking out the word "him" from the second sentence of such section and by inserting in lieu thereof the words "such Board". SEC. 2. Section 691a of such Act (D. C. Code, sec. 26-405) is hereby amended (1) by striking out "Comptroller of the Currency" wherever appearing in such section, and by inserting in lieu thereof "Home Loan Bank Board"; (2) by striking out "he" and "his" wherever appearing in paragraph (e) of such section, and by inserting in lieu thereof "such Board" and "such Board's", respectively; and (3) by striking out in paragraph (g) of such section "if said examination is made beyond the limits of the District of Columbia, but if made within the limits of the District of Columbia, the cost of the examination to be at the same rate and upon the same terms as provided in section 691". SEC. 3. Subsection (c) of the Act of April 26, 1922 (42 Stat. 500), as amended by the Act of March 4, 1933 (47 Stat. 1564; D. C. Code, sec. 26-103 (c)), is hereby amended by striking out "Comptroller of the Currency" wherever appearing in such subsection and inserting in lieu thereof "Home Loan Bank Board", and by adding after the phrase "to maintain any office or place of business in the District of Columbia," the following: "other than a foreign association which qualifies for a certificate of authority under section 691a of the Act of March 3, 1901, as amended (D. C. Code, sec. 26–405)". SEC. 4. Any powers, duties, and functions of the Comptroller of the Currency with respect to building associations and building and loan associations operating in the District of Columbia which are not transferred to the Home Loan Bank Board by the specific statutory amendments herein contained are also hereby transferred from the Comptroller of the Currency to the Home Loan Bank Board. Approved September 15, 1951. To amend certain housing legislation to grant preferences to veterans of the Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That paragraph (14) Korean vetof section 2 of the United States Housing Act of 1937 (50 Stat. 388, erans, etc. as amended; 42 U. S. C. 1402) is amended to read as follows: Housing pref 63 Stat. 424. "Veteran." "(14) The term 'veteran' shall mean a person who has served erences. in the active military or naval service of the United States at any time (i) on or after September 16, 1940, and prior to July 26, 65 Stat. 647. 1947, (ii) on or after April 6, 1917, and prior to November 11, 65 Stat. 648. 1918, or (iii) on or after June 27, 1950, and prior to such date thereafter as shall be determined by the President, and who shall have been discharged or released therefrom under conditions other than dishonorable. The term 'serviceman' shall mean a person in "Serviceman." the active military or naval service of the United States who has served therein at any time (i) on or after September 16, 1940, and prior to July 26, 1947, (ii) on or after April 6, 1917, and prior to November 11, 1918, or (iii) on or after June 27, 1950, and prior to such date thereafter as shall be determined by the President." SEC. 2. The Act of October 14, 1940, as amended (54 Stat. 1125, as amended; 42 U. S. C. 1521), is hereby amended (i) by striking out in paragraph (c) of section 505 and in paragraph (c) of section 602 the phrase "of World War II" wherever such phrase occurs; and (ii) by striking out in paragraph (b) of section 601 the phrase "during World War II", and substituting therefor the words "at any time on or after September 16, 1940, and prior to July 26, 1947, or on or after June 27, 1950, and prior to such date thereafter as shall be determined by the President". SEC. 3. Public Law 65, Eighty-first Congress (63 Stat. 68), is hereby amended by adding, after the phrase "July 26, 1947,", in section 2 thereof, the phrase "or on or after June 27, 1950, and prior to such date thereafter as shall be determined by the President,". SEC. 4. The National Housing Act, as amended, is amended by striking out the phrase "of World War II" wherever it occurs in paragraph (b) of section 213, and by adding the following proviso before the 64 Stat. 54. period at the end of said paragraph: ": Provided, That for purposes 12 U.S.C. of this section the word 'veteran' shall mean a person who has served § 1715e (b). in the active military or naval service of the United States at any time on or after September 16, 1940, and prior to July 26, 1947, or on or after June 27, 1950, and prior to such date thereafter as shall be determined by the President". Approved October 26, 1951. To permit the Federal National Mortgage Association to make commitments to purchase certain mortgages. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That notwithstand- National Housing ing the provisions of subparagraph (G) of section 301 (a) (1) of the Act, amendments. National Housing Act, as amended, the Federal National Mortgage 64 Stat. 57. Association is authorized to enter into advance commitment contracts 12 U.S.C. § 1716. which do not exceed $30,000,000 outstanding at any one time, if such commitments relate to mortgages with respect to which the Federal 65 Stat. 699. Housing Commissioner has issued, prior to June 29, 1951, pursuant 65 Stat. 700. to section 213 of the National Housing Act, as amended, either a 64 Stat. 54. commitment to insure or a statement of eligibility: And provided 12 U.S.c. & 1715e. further, That not to exceed $3,500,000 of said authorization shall be available for such commitments in any one State. Approved October 30, 1951. Public Law 309 - 82d Congress AN ACT To permit the Federal National Mortgage Association to make commitments to purchase certain mortgages. National 1716. Resolved by the Senate and House of Representatives of the United Housing Act, States of America in Congress assembled, That subparagraph (G) amendment. of section 301 (a) (1) of the National Housing Act, as amended, is 64 Stat. 57; hereby amended by striking out of the proviso: "commitments made 65 Stat. 315. by the association on or after the effective date of this proviso and 12 U.S.C. prior to December 31, 1951, which do not exceed $200,000,000 outstanding at any one time, if such commitments" and inserting in lieu 66 Stat. 51. thereof: (i) commitments made pursuant to Public Law 243, Eighty- 66 Stat. 52. second Congress, or (ii) commitments made by the association on or 65 Stat. 699. after September 1, 1951, which do not exceed $252,000,000 outstanding 12 U S.C. at any one time, if applications for such commitments were received § 1716-1. by the association prior to December 28, 1951, or, in the case of title VIII mortgages, if the Federal Housing Commissioner issued his 63 Stat. 570. commitment to insure prior to December 31, 1951, but subsequent to 12 U S.C. December 27, 1951, and if such commitments of the association". Approved April 9, 1952. SS 1748-1748h. Chapter 218 - 2d Session AN ACT All 66 Stat 64. To make additional funds available to the Administrator of Veterans' Affairs for direct home and farmhouse loans to eligible veterans, under title III of the Servicemen's Readjustment Act of 1944, as amended. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That section 513 of Servicemen's of the Servicemen's Readjustment Act of 1944 is amended by adding Readjustment the following subsection (d): Act of 1944, 38 U.S.C. 694m. "(d) For the purposes of further augmenting the revolving fund amendment. established in subsection (a) hereof the Secretary of the Treasury is 64 Stat. 76. authorized and directed between the effective date of this subsection and July 1, 1952, to make available to the Administrator such additional sums not in excess of $25,000,000 as the Administrator may request, and is authorized and directed to advance from time to time thereafter until June 30, 1953, such additional sums as the Administrator may request, provided that the aggregate so advanced in any one quarter annual period shall not exceed the sum of $25,000,000 less that amount which had been returned to the revolving fund during the preceding quarter annual period from the sale of loans pursuant to section 512 (d) of this title. Except for the limitation on the sums authorized in subsection (a) hereof, this subsection shall be subject to the other provisions of this section and of this title.” Approved April 18, 1952. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That section 106 (c) of the Housing Act of 1949 is hereby amended by striking out the 63 Stat. 418. word "and" at the end of paragraph (6); by striking out the period 42 U.S.C. at the end of paragraph (7) and inserting in lieu thereof a semicolon 8 1456. and the word "and"; and by adding the following new paragraph: "(8) make advance or progress payments on account of any capital grant contracted to be made pursuant to this title, notwithstanding the provisions of section 3648 of the Revised 31 U.S.C. Statutes, as amended, or any other provisions of this title." Approved June 3, 1952. $529. |