Page:United States Statutes at Large Volume 78.djvu/846

 804

Fe"[orsh%"Advisory Board, Establishment. n<..„u,i.u_._.

68 Stat. 645. 12 USC 170 Ih.

PUBLIC LAW 88-560-SEPT. 2, 1964

[78 STAT.

lished pursuant to subsection (b). Fellowships shall be solely for training in public and private nonprofit institutions of higher education having programs of graduate study in the field of city planning or in related fields (including architecture, civil engineering, economics, municipal finance, public administration, and sociology), which programs are oriented to training for careers in city and regional planning, housing, urban renewal, and community development. . (b) There is hereby established the Urban Studies Fellowship Advisory Board (hereinafter referred to as the "Board"), which shall consist of nine members to be appointed by the Housing and Home Finance Administrator as follows: Three from public institutions of higher learning, and three from private nonprofit institutions of higher education, who are the heads of departments which provide academic courses appropriately related to the fields referred to in subsection (a), and three from national organizations which are directly concerned with problems relating to urban, regional, and community development. The Board shall meet upon the request of the Administrator and shall make recommendations to him with respect to persons to be selected for fellowships under this section. Members of the Board shall be entitled to receive transportation expenses and a per diem in lieu of subsistence as authorized for members of advisory committees created pursuant to section 601 of the Housing Act of 1949. TITLE IX — S A VI N G S AND LOAN ASSOCIATIONS

76 Stat. 778. 12 USC 1464.

12 USC 1726.

?2 USC f464

42 USC f ^ ^ 466

SEC. 901. (a) The first sentence of section 5(c) of the Home Owners' Loan Act of 1933 is amended by striking out "fifty miles" and inserting in lieu thereof "one hundred miles". (b) The third sentence of section 403(b) of the National Housing ^Q^^ jg amended by striking out all that precedes the first semicolon and inserting in lieu thereof the following: "Each applicant for such insurance shall also file with its application an agreement that during the period that the insurance is in force it will not make any loans beyond one hundred miles from its principal office, except (1) loans in the area beyond such one-hundred-mile limit in which it was operating prior to June 27, 1934, and (2) loans which are made pursuant to regulations of the Corporation: Provided, That such agreement shall further provide that any loan made beyond fifty miles from the applicant's principal office (and outside the territory in which it was operating on such date) shall also be subject to such regulations". SEC. 902. The first proviso in section 5(c) of the Home Owners' Loan Act of 1933 is amended— (1) by striking out "$35,000" and inserting in lieu thereof "$40,000"; and (2) by striking out ", except that the aggregate sums invested pursuant to the two exceptions in this proviso shall not exceed 30 per centum of the assets of such association". SEC. 903. The next to last paragraph of section 5(c) of the Home Owners' Loan Act of 1933 is amended to read as follows: "Without regard to any other provision of this subsection, any such association is authorized to invest not more than 5 per centum of its assets in, or in interests in, real property located within urban renewal areas as defined in subsection (a) of section 110 of the Hous^^^ -^^^ ^^ -^^^^ ^^^ obligations secured by first liens on real property so located, but no investment shall be made by an association under this sentence in real property or any interest therein if the aggregate investment of the association under this sentence in real property and interests therein, determined as prescribed by the Board, would thereupon exceed 2 per centum of the assets of the association."

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