Page:United States Statutes at Large Volume 55 Part 1.djvu/390

 55 STAT.] 77TH CONG. , 1ST SESS.-CH. 261-JUNE 28, 1941 trator from delegating such power by order or by power of attorney, in his discretion, to any officer or agent he may appoint." SEc. 5. The last sentence of subsection (f) of section 2 of such Act, 53 Stat. 805 . as amended, is hereby amended by inserting after the word "charges" the following: "and all moneys collected by the Administrator as fees tiDeposit of collec- of any kind in connection with the granting of insurance as provided in this section, and all moneys derived from the sale, collection, dispo- sition, or compromise of any evidence of debt, contract, claim, prop- erty, or security assigned to or held by the Administrator as provided in subsection (c) of this section with respect to insurance granted on Ante' p 364 and after July 1, 1939". SEC. 6. Effective on July 1, 1941, the first sentence of section 1 of 1S2US. C .§ 1702. the National Housing Act, as amended, is hereby amended by striking Administrator's sal- out "$10,000" and inserting in lieu thereof "$12,000". 123 SEC. 7. Title I of such Act, as amended, is hereby amended by adding 49 Sta t 123 3 at the end thereof the following new section: "SEC. 7. Nothing in this title shall be construed to exempt any real realproperytion property acquired and held by the Administrator in connection with the payment of insurance heretofore or hereafter granted under this title from taxation by any State or political subdivision thereof, to the same extent, according to its value, as other real property is taxed." SEC. 8 . Subsection (a) of section 203 of such Act, as amended, is 3Stas. 85 1709 hereby amended by (1) striking out "$3,000,000,000" and inserting in Insurance of mort- lieu thereof "$4,000,000,000"; (2) striking out "$4,000,000,000" and g aes - inserting in lieu thereof "$5,000.000,000"; (3) striking out of the second proviso "the effective date of this amendment and outstanding at any inMortgagesi on exist one time, shall not exceed 25 per centum of the total amount of the principal obligations of mortgages with respect to which insurance may be granted under this title after such effective date" and inserting in lieu thereof "June 3, 1939, and outstanding at any one time shall not exceed 35 per centum of the total amount of the principal obliga- tions of mortgages with respect to which insurance may be granted under this title after such date"; and (4) striking out of the third Restriction after proviso "July 1, 1941" and inserting in lieu thereof "July 1, 1944". SEC. 9 . The last sentence of subsection (a) of section 204 of such 13 StaSt(0 1710. Act, as amended, is hereby amended by striking out "July 1, 1941" Foreclosures. and inserting in lieu thereof "July 1, 1944". SEC. 10. The first sentence of subsection (d) of section 512 of such . st.i. Act, as amended, is hereby amended to read as follows: "No indi- 12 Tue ot'.cert(d) vidual, association. partnership, or corporation shall hereafter, while letters or words. the Federal Housing Administration exists. use the combination of letters 'FHA', the words 'Federal Housing' or 'National Housing', or any combination or variation of such letters or words alone or with other letters or words as the name under which he or it shall do False advertise- business, for the purpose of trade, or by way of advertisement to ments. induce the sale of any article or product whatsoever, which use shall have the effect of leading the public to believe that any such individual. association, partnership, or corporation, or any article or product so offered for sale. has any connection with, approval of. or authoriza- tion from, the Federal Housing Administration, the Government of the United States, or any instrumentality thereof where such connec- tion, approval, or authorization does not, in fact, exist." Approved, June 28, 1941. 365

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