Page:United States Statutes at Large Volume 84 Part 1.djvu/1073

 84

STAT.]

PUBLIC LAW 91-468-OCT. 19, 1970

"(4) to appoint such officers and employees as are not otherwise provided for in this Act, to define their duties, fix their compensation, require bonds of them and fix the penalty thereof, and to dismiss at pleasure such officers or employees. Nothing in this or any other Act shall be construed to prevent the appointment and compensation as an officer or employee of the Administration of any officer or employee of the United States in any board, commission, independent establishment, or executive department thereof; "(5) employ experts and consultants or organizations thereof, as authorized by section 15 of the Administrative Expenses Act of 1946(5 U.S.C.55a); "(6) prescribe the manner in which his general business may be conducted and the privileges granted to him by law may be exercised and enjoyed; "(7) exercise all powers specifically granted by the provisions of this title and such incidental powers as shall be necessary to carry out the powers so granted; " (8) make examinations of and require information and reports from insured credit unions, as provided in this title. " (9) act as liquidating agent; " (10) delegate to any officer or employee of the Administration such of his functions as he deems appropriate; and "(11) prescribe such rules and regulations as he may deem necessary or appropriate to carry out the provisions of this title. "(b) With respect to the financial operations arising by reason of this title, the Administrator shall— "(1) prepare annually and submit a business-type budget as provided for wholly owned Government corporations by the Government Corporation Control Act; and " (2) maintain an integral set of accounts, which shall be audited annually by the General Accounting Office in accordance with principles and procedures applicable to commercial corporate transactions, as provided by section 105 of the Government Corporation Control Act. "NONDISCRIMINATORY

60 Stat. 810. 5 USC 3109.

59 Stat. 597. 31 USC 841 note. GAG audit.

59 Stat. 599; 78 Stat. 698. 31 USC 850.

PROVISION

"SEC. 210. I t is not the purpose of this title to discriminate in any manner against State-chartered credit unions and in favor of Federal credit unions, but it is the purpose of this title to provide all credit unions with the same opportunity to obtain and enjoy the benefits of this title." SEC. 2. Section 101 of the Federal Credit Union Act, as redesignated by section 1 of this Act (formerly section 2 of such Act), is amended— (1) by striking out the word "and" at the end of paragraph (2) thereof; (2) by striking out the period at the end of paragraph (3) thereof and inserting "; and" in lieu thereof; and (3) by adding the following new paragraphs after paragraph (3) thereof: "(4) The terms 'member account' and 'account' (when referring to the account of a member of a credit union) mean a share, share certificate, or share deposit account of a member of a credit union of a type approved by the Administrator which evidences money or its equivalent received or held by a credit union in the usual course of business and for which it has given or is obligated to give credit to the account of the member, and, in the case of a credit union serving predominantly 47-348 O - 72 - 68 (Pt. 1)

1015

Definitions, 73 Stat. 628. 12 USC 1752.

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