Page:United States Statutes at Large Volume 47 Part 1.djvu/32

 8 72d CONGRESS. . SESS. I. CH. 8. JANUARY 22, 1932 . the corpo ration wi th respec t to the deposit o r assignm ent of se curity hereunder without the authorization or approval of an y author ity, Notification. State or Federal, 'and without compliance with any requirement, State or Federal, as to notification, other than such as may be imposed by the Interstate Commerce Commission and the cor pora- tion under the provisions of this section. past htlot ~ SEC. 5 a. The corpor ation is autho rized and empo wered to a ccep t vo vin e exportation of drafts and bills of exchange drawn' upon it which grow out of trans- p,oducta sold abroad. actions involving the, exportation of agricultural or other products actually sold or transported for sale subsequent to the enactment hereof and in process. of shipment to buyers in foreign countries shipment of Provided, That the corporation shall not make any such acceptances muni tions of war, etc ., growing out of transactions involving the sale or shipment of arma- excluded. ments, munitions, or other war materials, or the sale or shipment into count ries which are at war . of any merchandise or co mmodi ties except food a nd sup plies for th e actu al use of non combat ants. No cep b e fdrraftstetc. ac- bill of exchange or draft shall be eligible for acceptance if such bill shall have at time of acceptance a maturity of more than twel ve Terms of drafts, etc. months. All drafts and bills of exchange accepted under this sec- tion shall be in terms payable in the United States, in currency of the United States and in addition to the draft or bill of exchange To be fully secured shall at all times be fully secured by American securities deposited by American securities. a s collateral or shall be guaranteed. b y a bank or trust company of undoubted solvency organized under the laws of the UnitStates or any State, Terr itory, or in sular posses sion th ereof Pr ovid ed go Foreign Cored , I`, That such securities shall not include goods stored or in process ot~ sh i pm e nt i n foreign countrie s' or the. obli gation of any fore ign gov- ernment, corp oratio n, fir m or person. SEC. 6. Section 5242 of tie Revised Statutes of the United States, Vol. g 1, se

p .as amended, is hereby amended by striking out the words "War loos, amended . Finance Corporation Act " and, inserting in lieu thereof the words u. s. C., p. 284. " Reconstruction Finance Corporation Act ." Deposit of corporate SEC. 7. All m onoys of the corpo ration not o therwis e empl oyed m ay mon eys . be deposited With the Treasurer of the United States subject to check Redemption of notes, by authority of the corporation or m any Federal reserve bank, or etc ., autborized. may, by authorization of the board of directors of the corporation, be used in the purchase for redemption 'and retirement of any notes, debentures, bonds, or other obligations issued by the corporation, and the corporation ., may reimburse such Federal reserve bank for their Federal rese rve banks services in the manner as maybe agreed upon. The Federal reserve t to act as depositaries, banks are authorized and directed to act as depositaries,' custodians, and fiscal agents .for the Reconstruction Finance Corporation in the the "'general performance of its powers conferred by this Act . Reports, records,ete, SE C. 8 . In order to enable the corporation to carry out the pro- tionn bl e '" corpora- visions of this Act, the Treasury Department, the Federal Farm Loan p Post, p. 714 . Board, the Comptroller of the Currency, the Federal Reserve Board, the Federal reserve banks, and the Interstate Commerce Commission are hereby authorized, under such conditions as they may prescribe, to make available to the corporation, in confidence, such reports, records, or other information .as they may have available relating to the condition of, financial, institutions and railroads or railways w it h, respect t o, which the corpo ration ha s had or contempla tes havin g transactions under .this, Act, or, relating to individuals, associa ions, artnerships, or corporations Whose obligations are offefte .to or held Examinations of it- by the corporation as security for loans to financial institutions or nanctal institution s, etc railroads or railways under this Act, and to, make through their . examin ers, or - oheF e mployees for-the c onfidenti al use of. th e c or po ra - ti on,. examina tions. o f such fi nancial i nstitutio ns or rai lroads an d So in original.