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PUBLIC LAW 85-477-JUNE 30, 1958

[72 S T A T.

PROCUREMENT PROGRAMS RELATING TO MILITARY ASSISTANCE

SEC. 102. Paragraph (1) of subsection (b) of section 105 of the Mu^^^^ Security Act of 1954, as amended, which relates to conditions applicable to military assistance, is amended by inserting immediately before the period at the end thereof the following:", including coordinated production and procurement programs participated in by the members of the North Atlantic Treaty Organization to the greatest extent possible with respect to military equipment and materials to be utilized for the defense of the North Atlantic area".

22 us^c his.

P O L I C Y O N MILITARY ASSISTANCE TO AMERICAN REPUBLICS

SEC. 103. Paragraph (4) of subsection (b) of section 105 of the Mutual Security Act of 1954, as amended, which relates to military assistance to American Republics, is amended by adding the following sentences at the end thereof: "The President annually shall review such findings and shall determine whether military assistance is necessary. Internal security requirements shall not normally be the basis for military assistance programs to American Republics.

22 USC 1815.

CHAPTER II—ECONOMIC ASSISTANCE DEFENSE SUPPORT

22 USC 1841.

SEC. 201. Subsection (b) of section 131 of the Mutual Security Act of 1954, as amended, which relates to defense support, is amended by striking out "1958" and "$750,000,000" and inserting in lieu thereof "1959" and "$810,000,000", respectively. UTILIZATION OF F U N D S I N SPECIAL ACCOUNTS

SEC. 202. Paragraph (iii) of subsection (b) of section 142 of the Mutual Security Act of 1954, as amended, which relates to utilization of funds in Special Accounts, is amended by inserting immediately before the period at the end thereof the following: ": Provided, That if amounts in such remainder exceed the requirements of such programs, the recipient nation may utilize such excess amounts for other purposes agreed to by the United States which are consistent with the foreign policy of the United States: Provided further, That such utilization of such excess amounts in all Special Accounts shall not exceed the equivalent of $4,000,000".

22 USC 1852.

DEVELOPMENT LOAN F U N D

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SEC. 203. Title II of the chapter designated by paragraph (2) of section 501 of this Act as chapter II of the Mutual Security Act of 1954, as amended, which relates to the Development Loan Fund, is amended as follows: (a) Amend section 202, which relates to general authority, as

22 USC 1872.

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General thority.

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follows: (1) Strike out subsection (a) and substitute the following: " (a) To carry out the purposes of this title, there is hereby created as an agency of the United States of America, subject to the direction and supervision of the President, a bodv corporate to be known as the 'Development Loan Fund' (hereinafter referred to in this title as the 'Fund') which shall have succession in its corporate name. The Fund shall have its principal office in the District of Columbia and shall be deemed, for purposes of venue in civil actions, to be a resident thereof. I t may establish offices in such other place or places as it may deem necessary or appropriate.".

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