Page:United States Statutes at Large Volume 70.djvu/722

 666 48 Stat. 266. 12 USC 1138.

PUBLIC LAW 809-JULY 26, 1956

[TOST A T.

(1) Section 60 of the F a r m Credit Act of 1933, as amended, is amended (1) by striking from the first sentence the words "the production credit corporations,"; (2) by striking from the second sentence the words "association, or corporation" and substituting in lieu thereof the words "or association"; and (3) by striking from the third sentence the words "production credit corporation or", "or corporation", and "corporation or", wherever they appear therein. 48 Stat. 267. (m) Section 61 of the F a r m Credit Act of 1933 is amended (1) by 12 USC 1138a. striking from the first sentence the words "production credit corporation,"; and (2) by striking from the second and third sentences the words "association, or corporation", wherever they appear therein, and substituting in lieu thereof the words "or association. 48 Stat. 267. (n) Section 62 of the F a r m Credit Act of 1933j as amended, is 12 USC 1138b. amended by striking out the words "production credit corporations,". 48 Stat. 267. (o) Section 63 of the F a r m Credit Act of 1933, as amended, is 12 USC 1138c. amended (1) by striking from the first sentence the words "the production credit corporations,"; (2) by striking from the first and second sentences the words "associations, or corporations" and "associations, and corporations," and substituting in lieu thereof, the words "or associations" and "and associations,", respectively; and (3) by changing the last sentence to read as follows: "The exemption provided herein shall not apply with respect to any production credit association or its property or income after the class A stock held in it by the Governor has been retired, or with respect to any bank for cooperatives or its property or income after the stock held in it by the United States has been retired." 48 Stat. 269. (p) Section 65 of the F a r m Credit Act of 1933, as amended, is 12 USC 1138e. amended (1) by striking out the words "production credit corporation,"; and (2) by striking out the words "association or corporation", wherever they appear therein, and substituting in lieu thereof the words "or association". 48 Stat. 1263. (q) Section 86a of the F a r m Credit Act of 1933 is hereby repealed. 12 USC 1131g-l. 67 Stat. 397, SEC. 106. (a) Section 5 of the F a r m Credit Act of 1937, as amended, 12 USC 640d. is amended (1) by striking from subsection (d)(2)(B) the words "production credit corporation of the district" and substituting in lieu thereof the words "Governor of the F a r m Credit Administration"; SO Stat. 705. and (2) by striking from subsection (h) the words "production credit 12 USC 640h. corporation,". 50 Stat. 706. (b) Section 6 of the F a r m Credit Act of 1937 is amended (1) by 12 USC 640/. striking from the first sentence of subsection (a) the words "production credit corporation,"; (2) by striking from the third sentence of subsection (a) the word "three"; (3) by striking from the first sentence of subsection (b) the words "the bank for cooperatives, and the production credit corporation" and substituting in lieu thereof the words "and the bank for cooperatives"; and (4) by striking from the last sentence of subsection (b) the words "production credit corporation,". 67 Stat. 394. SEC. 107, (a) Section 8 of the F a r m Credit Act of 1953 is amended 12 USC 636g. by striking out the words "production credit corporation", wherever they appear therein, and substituting in lieu thereof the words "Federal intermediate credit bank". 67 Stat. 399. (b) Subsection (a) of section 16 of the Farm Credit Act of 1953 is 12 USC 1131« amended to read as follows: " (a) Any other provisions of law to the contrary notwithstanding, after the effective date of this Act any production credit association may, with the approval of the Farm Credit Administration, issue nonvoting preferred stock, to be known as class C stock, which may be purchased and held by the Governor of the Farm Credit Administration and by investors: Provided, That the issuance of such stock shall

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