Page:United States Statutes at Large Volume 78.djvu/311

 PUBLIC LA¥ 88-354-JULY 3, 1964

78 STAT. 1

269

Public Law 88-353 AN ACT To amend the Federal Credit Union Act to allow Federal credit unions greater flexibility in their organization and operations.

July 2, 1964 [H. R. 8459]

Be it enacted by the Senate and House of Representatives of the Fed ral United States of America in Congress assembled, That paragraph Unione Act, Credit amend(7) of section 8 of the Federal Credit Union Act (12 U.S.C. 1757) ment. is amended (1) by striking out "or" immediately before " (D) ", and 73 Stat. 630. (2) by adding at the end thereof "or (E) in obligations issued by banks for cooperatives, Federal land banks, Federal intermediate credit banks, Federal home loan banks, the Federal Home Loan Bank Board, or any corporation designated in section 101 of the Government Corporation Control Act as a wholly owned Government 7559 Stat. 59 7; Stat. 774. corporation;". 31 USC 846. SEC. 2, The first sentence of section 12 of the Federal Credit Union Act (12 U.S.C. 1761) is amended by striking out "supervisory committee of three members" and inserting "supervisory committee of not less than three members nor more than five memoers". SEC. 3. The third sentence of section 14 of the Federal Credit Union Act (12 U.S.C. I761b) is amended by striking out "December 31 in proportion to the interest paid h^ them during that year" and inserting "the last day of any dividend period in proportion to the interest paid by them during that dividend period". SEC. 4. The last sentence of section 15 of the Federal Credit Union Act (12 U.S.C. l761c) is amended by inserting before the period: "and, subject to such regulations as the Director may prescribe, insur12 u ance obtained under title I of the National Housing Act shall be 1706d. s e 1702deemed adequate security". SEC. 5. Section 1014 of Title 18 of the United States Code is 73 Stat. 387. amended by striking out "or of a Federal Keserve bank, or of a small business investment company," and inserting "a Federal Reserve bank, a small business investment company, or a Federal credit union,". Approved July 2, 1964. Public Law 88-354 JOINT RESOLUTION To establish a National Commission on Food Marketing to study the food industry from the producer to the consumer.

July 3, 1964 [S. J. R e s. 71]

Resolved by the Senate and House of Representatives of the United States of America in Congress assembled. That there is hereby estab- ^,^^li°"^i P°'!^ T

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lished a bipartisan National Commission on J^ood Marketing (herein- Marketing. Organization. after referred to as the "Commission"). SEC. 2. ORGANIZATION or THE COMMISSION.—(a) The Commission shall be composed of fifteen members, including (1) five Members of the Senate, to be appointed by the President of the Senate; (2) five Members of the House of Representatives, to be appointed by the Speaker of the House of Representatives; and (3) five members to be appointed by the President from outside the Federal Government. (b) Any vacancy in the Commission shall not affect its powers and shall be filled in the same manner as the original position. (c) Eight members of the Commission shall constitute a quorum. e o m p e n s a t i o n SEC. 3. COMPENSATION OF MEMBERS.—(a) Members of Congress who members.

are members of the Commission shall serve without compensation in addition to that received for their services as Members of Congress; but they shall be reimbursed for travel, subsistence, and other neces-

of

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