Page:United States Statutes at Large Volume 67.djvu/162

 126

PUBLIC LAW 94-JUNE 30, 1953

42 USC 1592n.

Repeal. 42 USC 159 31593d. 64 Stat. 822; 65 Stat. 144. s o u s e app 2166.

souse

app.

2131-2136.

HOLe, dissolution. 48 Stat. 129. 12 USC 1463.

[67

ST A T.

SEC. 18. Section 315(e) of the Defense Housing and Community Facilities and Services Act of 1951, as amended, is amended by striking out the word "or" immediately before " (3) ", and by inserting before the period at the end thereof a comma and the following: "or (4) the provision of community facilities or services necessary to the health, safety, or public welfare of the inhabitants of a town or community which has been relocated as a result of the acquisition (through eminent domain or purchase in lieu thereof) of its former site by or on behalf of the Atomic Energy Commission for national-defense activities". SEC. 19. Title IV of the Defense Housing and Community Facilities and Services Act of 1951, as amended, is hereby repealed. SEC. 20. Section 717(c) of the Defense Production Act of 1950, as amended, is hereby amended by inserting the following new paragraph at the end thereof: "Notwithstanding any other provision of this Act, the termination of title VI or any section thereof shall not be construed as affecting any obligation, condition, liability, or restriction arising out of any agreement heretofore entered into pursuant to, or under the authority of, section 602 or section 605 of this Act, or any issuance thereunder, by any person or corporation and the Federal Government or any agency thereof relating to the provision of housing for defense workers or military personnel in an area designated as a critical defense housing area pursuant to law." SEC. 21. (a) The Home Owners' Loan Corporation created pursuant to section 4 of the Home Owners' Loan Act of 1933, as amended (referred to in this section as the "Corporation"), shall cease to exist and shall for all purposes be considered dissolved and abolished, except as otherwise provided in this section, one hundred and eighty days after the date the Home Loan Bank Board publishes in the Federal Register a notice to that effect, which shall also contain information as to the time for, and manner of, filing claims against the Corporation. The period of time prescribed for the filing of such claims shall be the ninety days immediately following the date of publication of the notice, and all creditors and claimants who have not presented their claims or demands within that period shall be forever barred from presenting or prosecuting the same, and any creditor or claimant who has not instituted suit within sixty days from the date his claim or demand is rejected b^^ the Corporation shall be forever barred. (b) With respect to any action, suit, or other legal proceeding commenced against the Corporation prior to the date of its dissolution, the Corporation shall continue a body corporate for the purpose of defending such suit and for no other purpose, and service of subpena or other process in such proceeding may be made upon the Corporation by serving the same on the Secretary to the Home Loan Bank Board. (c) Effective as of the date of the dissolution of the Corporation, (1) the title to any and all real property remaining in the Corporation on such date is transferred to the United States of America, (2) authority is given to the Home Loan Bank Board to sell and convey such property in the name of the United States of America for such cash consideration as such Board shall deem reasonable, and (3) all powers of the Corporation with respect to the execution of any instruments or documents affecting title to real estate or with respect to authorizing satisfactions of judgments are transferred to such Board. Any such instruments or documents executed by the Secretary or an Assistant Secretary to such Board on behalf of the Board shall be as effective as if the same had been executed by the Corporation prior to its dissolution. Subject to the approval of the Director of the Bureau

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