Page:United States Statutes at Large Volume 83.djvu/429

 83

STAT.]

401

PUBLIC LAW 91-152-DEC. 24, 1969

AUTHORITY TO TRANSFER ADDITIONAL A M O U N T S FROM GENERAL INSURANCE F U N D TO SPECIAL R I S K INSURANCE F U N D

SEC. 415. Section 238(b) of the National Housing Act is amended by striking out "the sum of $5,000,000"' in the first sentence and inserting in lieu thereof ", at such times and in such amounts as he may determine to be necessary, a total sum of $20,000,000". SAVINGS A N D LOAN

82 Stat. 487. 12 USC 1715Z-3.

ASSOCIATIONS

SEC. 416. (a) Section 5 of the Federal Home Loan Bank Act (12 U.S.C. 1425) is amended to read as follows: "SEC. 5. No institution shall be admitted to or retained in membership, or granted the privileges of nonmember borrowers, if the combined total of the amounts paid to it for interest, commission, bonus, discount, premium, and other similar charges, less a proper deduction for all dividends, refunds, and cash credits of all kinds, creates an actual net cost to the home owner in excess of the lawful contract rate of interest applicable to such transactions, or, in case there is no lawful contract rate of interest applicable to such transactions, in excess of such rates as may be prescribed in writing by the Board acting in its discretion from time to time. This section applies only to home mortgage loans on single-family dwellings." (b) Section 5(c) of the Home Owners' Loan Act of 1933 (12 U.S.C. 1464(c)) is amended by adding at the end thereof the following new paragraph: "Without regard to any other provision of this subsection, any such association is authorized to invest in shares of stock issued by a corporation authorized to be created pursuant to title IX of the Housing and Urban Development Act of 1968, and is authorized to invest in any partnership, limited partnership, or joint venture formed pursuant to section 907(a) or 907(c) of that Act." (c)(1) Section 4 0 4 (d)(2)(B) of the National Housing Act (12 U.S.C. 1727(d)(2)(B)) is amended by striking out "1966" and inserting in lieu thereof "1965". (2) Section 6(b) of the Act of September 21, 1968 (Public Law 90-505), is amended by striking out "1968" and inserting in lieu thereof "1965".

Regulations. 47 Stat. 727.

Investment authority. 48 Stat. 132

82 Stat. 547. 42 USC 39313940.

82 Stat. 858.

82 Stat. 859. 12 USC 1727 note.

R E S T R A I N T S AGAINST U S E OF N E W A N D IMPROVED TECHNOLOGIES

SEC. 417. Section 1010(a) of the Demonstration Cities and Metropolitan Development Act of 1966 is amended— (1) by striking out "and" at the end of paragraph (2); (2) by striking out the period at the end of paragraph (3) and inserting in lieu thereof; and"; and (3) by adding after paragraph (3) a new paragraph as follows: " (4) assure, to the extent feasible, in connection with the construction, major rehabilitation, or maintenance of any housing

80 Stat. 1286; 82 Stat. 6 0 3. 42 USC 3372.

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