Page:United States Statutes at Large Volume 68 Part 1.djvu/714

 682

PUBLIC LAW 576-AUG. 10, 1954

Requirements.

^-^0. 3. All tankers coDstructed pursuant to sections 1 and 2 of this Act shall be approximately twenty-five thousand deadweight tons each, shall have a speed of not less than eighteen knots, and shall be constructed in private shipyards within the continental tFnited States. The construction of the tankers shall be, so far as practicable, of materials and equipment produced or manufactured in the United States. Not more than three tankers authorized by this Act shall be constructed in any one shipyard. Approved August 10, 1954. Public Law 576

August 10, 1954 [S. 3683]

D. C. unions.

c r e d i t

47 Stat. 327.

D. C. Code 2 6 504. D. C. Code 2 6 506. Supervision. Reports.

D. 505.

C. Code

26-

Examination.

D. C. Code 26505. License.

[68 S T A T.

CHAPTER 666

AN ACT To amend the District of Columbia Credit Unions Act.

Be it enacted by the Senate and House of Representatives of the United States of America in Corigress assembled, That section 4 of the District of Columbia Credit Unions Act is hereby amended by striking out "Comptroller of the Currency" and inserting in lieu thereof "Director of the Bureau of Federal Credit Unions". SEC. 2. Section 6 of such Act is hereby amended to read as follows: "SEC. 6. (a) Credit unions established under this Act shall be under the supervision of the Director of the Bureau of Federal Credit Unions. They shall make such financial reports to him (at least annually) as he may require. "(b) Not later than January 31 of each calendar year each credit union established under this Act shall pay to the Bureau of Federal Credit Unions, for the preceding calendar year, a supervision fee in accordance with the scale prescribed for Federal credit unions. All such fees shall be deposited with the Treasurer of the United States for the account of the Bureau in the special fund created by section 5 of the Federal Credit Union Act and may be expended by the Director for such administrative and other expenses incurred in carrying out the provisions hereof as he may determine to be proper, the purpose of such fees being to defray, as far as practical, the administrative and supervisory costs of the Bureau incident to the execution of its functions under this Act. "(c) Each credit union established under this Act shall be subject to examination by, and for this purpose shall make its books and records accessible to, any person designated by the Director. The scale of examination fees prescribed for Federal credit unions shall also be applicable to credit unions established under this Act which fees shall be assessed against and paid by each credit union established under this Act promptly after the completion of such examination. Examination fees collected under the provisions of this section shall be deposited to the credit of the special fund created by section 5 of the Federal Credit Union Act, and shall be available for the purposes specified in subsection (b) of this section. " (d) I t shall be unlawful for any credit union established under this Act to transact business in the District of Columbia without procuring a license from the District of Columbia; and all such credit unions shall pay a license tax of $5 per annum to the District of Columbia. No license shall be granted for a longer period than one year: Provided, That the Commissioners of the District of Columbia may suspend or revoke a license upon proof of the bankruptcy or insolvency of any such credit union or upon conviction of a violation of any provision of this Act or any law or regulation of the District of Columbia or of the United States."

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