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PUBLIC LAW 91-385-AUG. 20, 1970

[84 STAT.

Public Law 91-385 . on

AN ACT

,o.n

August 20, 1970 [ w R. 17711] H To amend the District of Columbia Cooperative Association Act, and for otiier purposes. D.C. usury law, exemption

54 Stat. 490. 37 Stat. 657; 78 Stat. 675. D.C. Code 28fn/ra.^'^ ^*''"

\\ ^t|J,- 1246. and note. 72 Stat. 1203; "sV'usc 180118 27.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That section 43 of the District of Columbia Cooperative Association Act (D.C. Code, g^c. 29-843) is amended by adding at the end thereof the followingnew sentence: "The Act of February 4, 1913 (D.C. Code, secs. 26-601— 26-611) (relating to licenses for loaning of money), and chapter 33 of title 28 of the District of Columbia Code (relating to interest rates) shall not apply to— " (A) any association formed under this Act (whose sole function is to arrange and provide financing for its members), and " (B) any members of such association engaged in utility operations with respect to any contract or agreement between such association and any member relating to a loan of money in connection with such utility operations." SEC. 2. (a) Chapter 33 of title 28 of the District of Columbia Code is amended by adding the following new section: "§28-3307. District of Columbia Council authorized to exempt certain mortgages and loans "The District of Columbia Council is authorized from time to time to provide by regulation for the exemption from the provisions of this chapter of any mortgage or loan insured or guaranteed under the National Housing Act or chapter 37 of title 38, United States Code, the iuterest rate of which is subject to regulation by an officer or agency of the Federal Government. The Council is further authorized to amend or repeal any such regulation at any time, but no such amendment or repeal shall affect any such loan o r m o r t g a g e lawfully m a d e o r c o m m i t t e d to be m a d e while such e x e m p t i o n is in effect."

(b) The chapter analysis of chapter 33 of title 28 is amended by inserting immediately below the item relating to section 28-3306 the following new item: "28-3307. District of Columbia Council authorized to exempt certain mortgages and loans". Approved August 20, 1970.

Public Law 91-386 August 24, 1970 ^ ACT [H. R. 15866] To repeal the Act of August 25, 1959, with respect to the final disposition of the affairs of the Chotlaw Tribe. Choctaw Indians

RTpe°ai. 25 USC 355

note

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That the Act of August 25, 1959 (73 Stat. 4 2 0), as amended, is repealed. SEC. 2. Repeal of the Act of August 25, 1959, shall not be construed

to abrogate, impair, annul, or otherwise affect any right or interest which may have vested under the provisions of said Act nor shall repeal affect any legal action pending on the date of enactment of this Act. Approved August 24, 1970.

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