Page:United States Statutes at Large Volume 70.djvu/1099

 70

STAT.]

143

PUBLIC L<AW 983-AUG. 6, 1956

(b) Any contract of loan in the making or collection of which any act shall have been done which constitutes a violation of any of the provisions of this title shall be void and the lender shall have no right to collect or receive any principal, interest, or charges whatsoever on account thereof. Any person pledging any goods, article, or other thing as security for a loan which is void shall be entitled to the return of such goods, article, or thing without being required to pay any principal, interest, or other charge on account of such void loan. SEC. IT. The Commissioners are authorized to make and enforce such rules and regulations as they deem necessary to carry out the purposes of this Act. SEC. 18. Nothing in this Act shall apply to any person, firm, jointstock company, incorporated society, credit union, or corporation doing business in the District of Columbia under the supervision of the Federal Reserve System, or the Comptroller of the Currency, or the Federal Deposit Insurance Corporation, or the Home Loan Bank Board, or the Federal Savings and Loan Insurance Corporation, or the Department of Health, Education, and Welfare or to loans made by them.

Nonapplicabllity of Act.

BEFEAL.

SEC. 19. The Act entitled "An Act to regulate the business of loaning money on security of any kind by persons, firms, and corporations other than national banks, licensed bankers, trust companies, savings banks, building and loan associations, and real-estate brokers, in the District of Columbia", approved February 4, 1913, as amended, insofar as the same applies to the business of lending money on the security of the pledge and possession of tangible personal property, is hereby repealed.

37 Stat. 657. D. C. Code 26> 601 to 26-611.

SEPARABILITY OF PROVISIONS

SEC. 20. If any provision of this Act or the application thereof to any person or circumstances, is held invalid, the remainder of the Act, and the application of such provision to other persons or circumstances shall not be affected thereby. EFFECTIVE DATE OF ACT

SEC. 21. This Act shall take effect at the expiration of sixty days after the date of its approval. Approved August 6, 1956. Public Law 983

CHAPTER 971

AN ACT To amend section 1201 of title 18 of the United States Code to authorize the Federal Bureau of Investigation to initiate investigation of any kidnaping in which the victim has not been released within twenty-four hours after his seizure.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That subsection (b) of section 1201 of title 18 of the United States Code is amended to read as follows: " (b) The failure to release the victim within twenty-four hours after he shall have been unlawfully seized, confined, inveigled, decoyed, kidnaped, abducted, or carried away shall create a rebuttable presumption that such person has been transported in interstate or foreign commerce." Approved August 6, 1956.

August 6, 1956 IH. R. 800]

Kidnaping. 62 Stat. 760.

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