Page:United States Statutes at Large Volume 73.djvu/425

 73 S T A T. ]

PUBLIC LAW 86-168-AUG. 18, 1959

(g) Section 208(c) of the Federal F a r m Loan Act, as amended (12 U.S.C. 1093), is amended by changing "Land bank appraisers" in the first sentence thereof to " F a r m credit appraisers". (h) The Federal F a r m Loan Act, as amended (12 U.S.C. 641 et seq.), and any other Act of Congress in which the words appear, are amended by changing "national farm loan association" and "national farm loan associations" to "Federal land bank association" and "Federal land bank associations", respectively. (i) The Federal F a r m Loan Act, as amended (12 U.S.C. 641 et seq.), and any other Act of Congress in which the words appear, are amended by changing "secretary-treasurer" and "secretary-treasurers", when used to mean the secretary-treasurer of a national farm loan association (herein renamed "Federal land bank association"), to "manager" and "managers", respectively. (j) The first sentence of section 5(d) of the Farm Credit Act of 1953 (12 U.S.C. 636(d)) is amended by inserting immediately before the period at the end thereof ": Provided, That the salary of not more than three positions of deputy governor shall each be fixed by the Board at a rate not exceding $17,500 per annum". (k) This title shall become effective December 31, 1959.

387 42 Stat. 1458.

Salaries. 67 Stat. 392. 12 USC 636d.

Effective date.

TITLE II ~ S T A T U S OF F A R M C R E D I T B A N K S AND EMPLOYEES SEC. 201. Notwithstanding any other provision of law, and in order rower pVrtici'^p"^ to encourage and facilitate increased borrower participation in the "on. management and control of institutions operating under the supervision of the F a r m Credit Administration in accordance with the policy declared in section 2 of the Farm Credit Act of 1953 (12 U.S.C. supp. IV, 636a), section 6 of the Farm Credit Act of 1937, 67 Stat. 390. 50 Stat. 706. as amended (12 U.S.C. 6401), is amended— (a) by inserting " (a) " immediately following "SEC. 6.", by redesignating subsections " (a) " and " (b) " as paragraphs " (1) " and " (2) ", respectively, and by deleting subsection " (c) "; (b) by adding the following at the end of paragraph (1) of subsection (a) thereof (as redesignated herein): "The employment, compensation, leave, retirement (except as provided in subsection (e) hereof), hours of duty, and all other conditions of employment of such joint officers and employees employed by the district farm credit board, and of separate officers and employees of the Federal land bank, Federal intermediate credit bank, and bank for cooperatives of the district employed by the board of directors of such banks, shall be determined by the respective boards without regard to the laws from which exemption is granted in this section, but all such determinations shall be consistent with the laws under which such banks are organized and operate. Appointments, promotions, and separations so made shall be based on merit and efficiency and no political test or qualification shall be permitted or given consideration. The district farm credit board shall, under rules and regulations prescribed by the F a r m Credit Administration, provide for veterans' preference and limitations against political activity for such officers and employees substantially similar to the preference and limitations to which such officers and employees were subject upon enactment of this sentence."; and (c) by adding the following new subsections after subsection (a) thereof (as redesignated herein): " (b) The provisions of section 1753 of the Revised Statutes (5 U.S.C. 631) and the Act of January 16, 1883, entitled 'An Act to reg-

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