Page:United States Statutes at Large Volume 48 Part 1.djvu/283

 73d CONGRESS. SESS. I. CHS. 97, 98. JUNE 16, 1933 . 257 period the probation officer may arrest the probationer wherever found, without a warrant, or the court which has granted the pro- bation may issue a warrant for his arrest, which warrant may be executed by either the probation officer or the United States marshal of either the district in which the probationer was put upon proba- tion or of any di strict in whic h the probati oner sh all be found and, if Return to Jurisdic- the probationer shall be so arrested in a district other than that in tion. which he has been put upon probation, any of said officers may return probationer to the district out of which such warrant shall have been issued ." Approved, June 16, 1933, 1 :05 p .m . [CHAPTER 98 .] AN ACT June 16, 1933 . To provide for organizations within the Farm Credit Administration to make _ [H.R .579o.[ loans for the production and marketing of agricultural products, to amend [Public, No. 75.] the Federal Farm L oan Act, to amend the Agricultural Marketing Act, to provide a market for obligations of the United States, and for other purposes . Be it enacted by the Senate and House of Representativ es o f th e United States of America in . Congress assembled, TIT LE I SECT ION 1 . This Act shall be known, as the "Farm Credit Act of 1933 ." EST ABL ISHM ENT OF PR ODU CTIO N CREDIT COR PORA TIO NS AND BA NKS FOR Production Credit Corporations and COOPERATIVES tive sBank s fo r Coo pera- . SEC. 2 . The Governor of the Farm Credit Administration, here- Organi zation, ate . inafter in this Act referred to as the " governor ", is authorized and directed to organize an d charter twe lve corporati ons to be know n as " Product ion Credit Co rporations " an d t wel ve ba nks to be kn own as "Banks for Cooperatives ." One such corporation and one such moti on bank shall be established in each city in which there is located a Federal land bank. The directors of the several Federal land banks Directors. shall be ex officio the directors of the respective Production Credit Corporations and Banks for Cooperatives. Such directors shall have tis Powertoe p pln oyand power, subject to the approval of the governor, to employ and fix the compensation of such officers and employees of such corporations and banks as may be necessary to carry out the powers and duties conferred upon such corpora tions and ban ks under this Act. CHARTERS AND BYLAWS SEC. 3 . The c harters of th e Production C redit Corpora tions and the Banks for Cooperatives shall be gran ted by the gov ernor upon application of the directors of the Federal land bank of the proper district, and applications and charters shall be in such form as the governor shall prescribe. The directors shall have power, subject to the approval of the governor, to adopt such bylaws as may be necessary for the conduct of the business of the corporations and banks. CAPITAL OF PRODUCTION CREDIT CORPORATIONS Farm Credit Act of 19 33 . Title Charters and bylaws. Produ ctio n Credit Corporations. SEC. 4. The capital stock of each Production Credit Corporation capital stock. shall be in such amount as the governor determines is required for mined bytgoto be vernor eter- the purpose of meeting the credit needs of the district to be served by such corporation, and such amount may be increased or decreased Limitation. from time to t ime by the go vernor in acc ordance with s uch credit 86637 •-34-17