Page:United States Statutes at Large Volume 44 Part 1.djvu/313

 E9;) TITLE '}2,<~iBall’1 ¢;_.,,,,;¤, as shall bc &Dp¥‘0V€d by the Federa1__Farm Loan BOQYQ,-I Lal the credit instrumeutseecurcd t.hcreby.‘ 'lfhe term "farm gay; I>*lIlilS-•’°%hBu be  to include au UOIIGS,     QQ]- mic t'l2{l}_i(Cl°;. theyshall be aietinghished by"`the additma of UA; \\`(>1'•LiS Nrlsederalyn QF U joint Btockyn RS   CRBQ    7 ,,m;;l· 12; 1916, c. 245, ·§ Q, 39 Sun;. :-2.60,)   _· my FEDERAL FARM LOAN B’0A°kD. xiii. I·`c£lcral Farom Loan, Bureau; creation; aupervieiém byi §,ual·d`.— »»'lfilcrc; shall he established at the  of_.gQ\’€l‘IllllQ§1t in my 1¥cpartmc·ut _0f the Clfrcasury &Vbl'l"I‘€311‘(3h8lTg6(1 with the ew mlm; at this chapter, ·aml’0f all acts amendatory, te be li¤;»·ml as the Federal `Ea¢rm· Loan Bureau, under the general >·¤;¤»l·,l¤il»g» of a Federal Farm Loan Board. _ (July 17, 1916, ,._ 3-zz, 3,39 Stat. 360.) _ .   . ·‘ · _- _   _ 632. Composition of hoard; mimber of members; appointment; salaries; expenses.-=—El‘lx;;,Fedel‘a1_ Farm Load Board shalli ,.,.ll»i»a `oi seven members, including the Secretary ct" the ,q·»,·,,m·;-, who shalhbc a mcmbcp and'chairma11 exoglcio, ahd aix hl£3llil>£!!`S to be appointed by the·PresFielcnt‘ of the United §{;,g{z_·<, hy` and with the advice and consent of the Senate? Of gpl- ai}; m<·ml»crs to be appolnted by the Prcéideutfaot more uml time shall be appointed from cue political. party, andall
 * m_—z·u1 d{·pL»¤;itcd with a farm lean registrar uhdcrthe teams of
 * ,1:; nf said memhcrs shall he citheusct the United States and

ailull dotaqtc their entire time to the business of the Federal , }":,ll‘l{l Luau Board; they shall receive, an annual salary pr -$1OX}00»;i•a3·able monthly, together wit.h actual necessary t;·ll·~l·li:l;§_cxpcu,ses. ~One [ot the addltiohal meinbcra of the rrll'é·ral. lfarm_L0aa·`Bqal·d, he1:ehy`provided·.£or, shall be ap- \..p·,ime·d mr aterm expiring August 6, 1929, ·BHd,0I1B_ for a term expiring August 6, 1331, and thereafter the teams of allkmemmw of the Fcdccjal Farm Loan Board shall be aa in the'fo1y· lllwiug section otherwise provided {gr; (July 17, 1916, c. 245, . 5{ 3, :20 S(at.‘360;, Mar. 4;1923, c. 252, Title III, { 301, 42 Stat. mz;.} W ‘·, , ‘ , _ 653. _'l`cmis of Mee; oath; farm lean c¤mmlssioncr.—>Ohe, f of mc mcmbers-0£ the Federal Farm. L0au_B0ard`t1i be ap- {Jr me gycars, one 1o1·,four,»years, ozie for six years, and one fw eight. ycara, aad thereafter each member so appblnted shall s¢?x·ue·1`cr a term 01 clghtyears, unleap sooner rengcved for cause by the President. _ One ot the members  het dmgnated by nlm licsideat aa the farm loan ccmmimloner, who shall be the zmivc executive 0Ecer of said, board. Each member ._0f-the l·‘.·ll4·ral Farm Loan- Beard shall sbithin Atlfteea days after ¤';l·zl<·c o£·his appoiatmexm take and subscfibe tO.UlB' path of lllmc. · (July_17, 1916, c. 245, S 8, 39 Stat. 360.) G5;. El§gibility‘cf_ members; restriction an fight to engage in other »business;—·-—N0 member of the Federal Farm Loan lwrli shall, darling his continuance in omce, be snfomcer or lm~l_·:gr of any lathe}; laatltution, association, .or, mrtuershlp (*!:2.L2'!£:(‘Z1 la bauk1ug,_0r in the business ot making land mort-
 * »··2:.lg~·l by the President shall be designated by him to nerve
 * .¤:·*:··` mana or sell·lng land, mortgages. Before entering uiaca

l-i~ duties aa a mcmbei·'·cf the Federal Farm Loan Ecard each ¤»,l~ml»4·x· shall certify uhdcr oath to the -Prcaideut that he is ·s·!€:il»lu uadcr this section. (July 17, 1916, c. 245, { 3, 39 "hisnt. 360,}  { _ " .  .l G55. Filliag vacancies an board.-··-The President shall have { the }N)\\’Q_1*, by and with the advice and -c0nse¤t ct UIQ Sélléw, · an ml, any V&C&1lCY_0CCU!1‘lllg'iB the membership nt the Federal .rm·m_Lcan Board; it auch vacancy shall be §1led‘duru1g the 1»·~cs>;~ ot the Senate a· ccmmiaaloa shall be granted which cmlll cxpinjc at the and of the next sesaicmy (July 17, 1916, <·. 243, § §, 39 Stat.- 860.). - _ · ~ " lsZ»6.· Ifiizistrara, appxaisers, and examiners; appointment; rgatrictioa mi right. to engage ia ether husiaea•.·-—·#—'.l?he Federal l`;u·mjL0aa Bcardehall appoint A farm loan registrar in each

K8 AND BANKING § 658 land bank district to receive appl1cations`for"issues ot farm loan bonds and to perform such other services as are prescribed by this chapter, and may appoint a deputy registrar who shall during the unavoidable absence or disability of the registrar perform the duties of that omce. It shall also appoint one or miore land. bank appraisers foreach land bank district •and as many land bank examiners as it shall deem ‘¤eee‘seery. Farm loan registrars, deputy registrars, land bank appraisers, and land bank', examiners appointed under this section shall be public oilicials and-shal1, during their continuance in oi}lce,.hnve no connection; with *or interest in any other institution, association, or partnership engaged in banke int orrin the ·buslness‘ ot making landrmortgnge loans or selling land mortgages: Provided, That this limitation jshall not apply `to persons employed by- the board temporarily to do special me '_(J_uly 17, 1916, c. 245, § 3, 39 Stat. 361; Apr. 20, 1920, c. .154,·§ 1, 41. Stat. 579.), . “ - — Q 651.q Salaries and expenses; provision for paynnent.—-The ‘sala es and expenses of the Federal Farms Loan Board, its officers-and employees, farm loan registrars, deputy registrars, — examiners, and reviewing appraisers authorized- under this chapter`, or any subsequent amendments thereof, . shall be paid by the Federal land ’ banks, 'joint_·stock_  banks, and the Federal intermediate credit   as follows: Q · _LThe Federal Farm Loan Board shall, prior. to the 1st_· days _ of January and July ot each year, estimate the expenses and salaries oI_ the Federal ·_Farm Loan .`Board, its `omcers and em· , ployees, farm loan reglstrarsvand deputy registrars, examiners,  and reviewing appraisers, and apportion the same among the Federal land banks, jolnt-stock land banks, and the Federal _ intermediate credit banks on such equitable basis as the Fed·~ eral Farm Loan Board shall determine, giving ·due consideration. to time and expense necessarily incident to the supervision of the operation or each type of bank, and 5 make an. assessment upon each ot such banks pursuant to such appor- _tionment,· payable on¢the` 1st days of January and July nent ] ensuing. The funds collected pursuant to such assessments p shall be deposited with the Treasurer of the Unltw States under the miscellaneous receipts title, "Amessments on Federal and Jolnbstock land banks and Federal intermediate credit banks,, ealariesandexpenses Federal Farm Loan Board,"` to be distbursed ln payment of such salaries and expenses on appropriations duly made by Qongresst Provided, That the present legal smtus as to· assessments. against _—Federa_1 intermediate e credit banks shall continue untllr June 80, 1926, without Gp- ` propriations by Qongrem. , ° f ` e 1 It any dellclency shall occuryin such {und during the half? year period for which lt wes estimated, the Federal Farm Loan Board shall have authority to make` immediate assessmentcovering such eénennef against the Federal land banks, joint-= stockland banks, and Federal intermediate crcdlt banks upon the same basis as the original- assessment! It at tbeend ot the six, months? period there shall remain a surplus in such fund, it shall be deducted from the estimated expenses of the next six "months’ period when assessment is, made for `sueh period; (July 17, .1916,. cl-245, `§ 3, 39 Stat. 361; Mar. 4, 1923, 2:. %2,°’1‘lt1e III, 5 302, 42- Stat. 1473; Mar. 4, 1925, c. 524, § 3, 43Statr1202.) »··  · -, f 658. Appraisers and inspectors; .¢:om§pensation; manner of payment.—#Federsrl land- bank appraisers, and appraisers or inspectors of Federal intermediate credit banks, shall receive such compensation as the Federal Farm Loan Board `shall tix sand shall be paid by fthe Federal land banks, joint—stock land banks, and the Federal intermediate credit banks they serve`; ln such proportion ang in such rnanncr as the Federal Farm Loan,.Board shall order. (July 17, 1916, c. 245, § 3,539 Stat,. · 351; Mar. El, 1923, c. 252, Title lll, § 302, 42 Stat.»rl73; Mar. 4,‘ 1925, c. 52j1, §_3, 43 Stat. 1262.) · J