Page:United States Statutes at Large Volume 69.djvu/589

 69 S T A T. ]

547

PUBLIC LAW 268-AUG. 9, 1955

Public Law 268

CHAPTER 628

AN ACT To amend the Small Business Act of 1953.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That section 204 (a) of the Small Business Act of 1953 is hereby amended by inserting after the word "branch" the following: "and regional". SEC. 2. Section 207 of such Act is further amended by inserting after subsection (e) a new subsection as follows: " (f) To further extend the maturity of or renew any loan made pursuant to subsection (a) or (b) of this section, beyond the periods stated therein, or any loan transferred to the Administration pursuant to Reorganization Plan Numbered 2 of 1954, for additional periods not to exceed ten years, if such extension or renewal will aid in the orderly liquidation of such loan.". SEC. 3. (a) The last sentence of section 204(b) of the Small Business Act of 1953 is amended to read as follows: "The Administration shall pay into miscellaneous receipts of the Treasury at the close of each fiscal year, interest on the net amount of the cash disbursements from such advances at a rate determined by the Secretary of the Treasury, taking into consideration the current average rate on outstanding interest-bearing marketable public debt obligations of the United States of comparable maturities.". (b) Section 204 of the Small Business Act of 1953 is further amended by inserting the following new subsections (e) and (f), as follows: " (e) As used in this Act, the term 'United States' includes the several States, the Territories and possessions of the United States, the Commonwealth of Puerto Rico, and the District of Columbia. " (f) The Administrator may establish regional offices of the Administration in the Territories of Alaska, Hawaii, and in the Commonw^ealth of Puerto Rico." SEC. 4. (a) Section 205(a) of the Small Business Act of 1953 is amended (1) by striking out "require bonds of them, and fix the penalties thereof" and inserting in lieu thereof "to provide bonds for them in such amounts as the Administrator shall determine, and to pay the costs of qualification of certain of them as notaries public", and (2) by inserting at the end thereof the following new sentence: "Subject to the standards and procedures under section 505 of the Classification Act of 1949, as amended, not to exceed fifteen positions in the Small Business Administration may be placed in grades 16, 17, and 18 of the General Schedule established by that Act, and any such positions shall be additional to the number authorized by such section." (b) Section 205(b)(7) of the Small Business Act of 1953 is amended (1) by inserting immediately following "all actions" the following: ", including the procurement of the services of attorneys by contract," and (2) by changing the period at the end thereof to a colon and adding the following: Provided, That no attorneys' services shall be procured by contract in any office where an attorney or attorneys are or can be economically employed full time to render such services." (c) Section 205(c) of the Small Business Act of 1953 is amended by adding at the end thereof the following new sentence: "Any individual so employed may be compensated at a rate not in excess of $50 per diem, and, while such individual is away from his home or regular place of business, he may be allowed transportation and not to exceed $15 per diem in lieu of subsistence and other expenses." SEC. 5. Section 207 of the Small Business Act of 1953 is amended to read as follows:

August 9, 1955 [S. 2127]

Small b u s i n e s s. 67 Stat. 233. 15 USC 633. 15 USC 636. Loans.

68 Stat. 1280. 15 USC 609 note.

15 USC 633.

Alaska, Hawaii, and Puerto Rico.

IS u s e 634.

Ante, p. 179.

15 USC 634.

15 USC 636.

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