Page:United States Statutes at Large Volume 49 Part 1.djvu/343

 298 74rri CONGRESS. SESS. I. CH. 150 . MAY 28, 1935. the following new sentence! "The sums appropriated and made avail- able pursuant to this section shall be used impartially in the promotion and development of local thrift and home-financing institutions, whether State or Federally chartered ." Vol. 48, p. 135. Sec. 20 . Subsection (d) of section 8 of the Home Owners' Loan Act of 1933, as amended, is - amended to read as follows Criminal Code ap- „ 601 10 plic ation of designa ted (d) The provisions of section 29, 30, 32, 35, 37, 39, 112, 113, and provisions to Corpora- 117 of the Criminal Code of the United States (U. S . C ., title 18, sees . tiVol.48, p. 135. 73, 74, 76, 82, 83, 88, 91, 202, 203, and 207), insofar as applicable, are 1108P109 .94' 1095' extended to apply to the Home Owners' Loan Corporation, its con- u. S. C ., pp. 724, 725, tracts or agreements, and an association under this Act which, for the 726, 735. purposes herein shall be held to include advances, loans, discounts, and purchase or repurchase agreements ; extensions and renewals thereof ; Vol . 48, pp. 135, 647; and acceptances, releases, and substitutions of security therefor ." U.S.C.,p.475. Sec . 21 . Subsection (e) of section 8 of the Home Owners Loan Act Pe nalt y pr of 1933, as amended, is amended to read as follows : ovisions . „ soliciting no on (e No person, partnership, association, or corporation shall, ized fees, et c . directly or indirectly, solicit, contract for, charge, or receive, or attempt to solicit, contract for, charge, or receive, from any person applying to the Corporation for a loan, (1) any fee, charge, or other consideration, whether bond or cash, except ordinary fees authorized and requ ired by the Cor poration for s ervices actuall y rendered for examinat ion and perfect ion of title, appraisal, and like necessary services, or (2) any moneys, check, note, or other form of obligation, represen ting payment of any differenc e which may exi st between the market value and the par value of the bonds of the Home Owners' Punishment for. Loan Corporation. Any person, part nershi p, asso ciatio n, or corpor a- ti on vio lating the pr ovisio ns of this s ubsecti on sha ll, up on con viction thereof, be fined not more than $5,000, or imprisoned not more than two years, or both ." Lo an Federal Insurance savings ao Cor- SEC. 22 . Paragraph (5) of subsection (c) of section 402 of the poration . Fr anki ng pri vile ge ; adding National Housing Act is amended by adding the following sentence exp nditure of public at the end thereof : "The Corporation shall be entitled to the free ruv l .48 p 1256. use of the United States mails for its official business in the same manner as the executive departments of the Government, and shall determin e its necessary expenditures under this Act and the manner in which the same shall be incurred, allowed, and paid, without regard to the provisions of any other law governing the expenditure of public funds ." National Housing Act amendments . SEC. 23 . Subsection (b) of section 403 of the National Housing Act . Vol.48,p.1257. is amend ed (1) by strik ing out the wo rds "ten years" and inserting Time exten ded for bui ldi ng up5%reserve in lieu thereof the words "twenty years ", and (2) by striking out on insured accounts . the period at the end of the subsection and inserting in lieu thereof Dividend payments. a colon and the following : " Provided, That for any year dividends may be declared and paid when losses are chargeable to such reserves if the declaration of such dividends in such case is approved by the Corporation ." Vol . 49, p. 1258. SEC. 24 . Subsection (d) of section 403 of the National Housing Act is amended to read as follows Ad miss ion fee " (d) Any applicant which applies for i nsurance under this title charged applicant for insurance. af ter th e 'firs t year of th e oper ation of the Corpor ation shall pay an admission fee based upon the reserve fund of the Corporation, which, Insurance premiums in the judgment of the Corporation, is an equitable contribution ." reduced. SEC . 25. (a) Subsections (a) and (b) of section 404 of the National Vol. 4s, p .1258. Housing Act are amended by striking out " one-fourth " and inserting in lieu thereof "one-eighth ".