Page:United States Statutes at Large Volume 92 Part 3.djvu/1048

 PUBLIC LAW 95-630—NOV. 10, 1978

92 STAT. 3680 Regulations.

Contracts.

Sale.

Rules and regulations. Effective date.

SEC. 404. Dies for use in striking the medallions authorized by this title may be executed by the engraver, and the medallions struck by the Superintendent of coining department of the mint at Philadelphia, under such regulations as the Superintendent, with the approval of the Director of the Mint, may prescribe. In order to carry out this title, the Secretary may enter into contracts: Provided, That suitable precautions are maintained to secure against counterfeiting and against unauthorized issuance of medallions struck under authority of this title. SEC. 405. For purposes of section 485 of title 18 of the United States Code, a coin of a denomination of higher than 5 cents shall be deemed to include any medallion struck under the authority of this title. SEC. 406. (a) Medallions struck under authority of this title shall be sold to the general public at a competitive price equal to the free market value of the gold contained therein plus the cost of manufacture, including labor, materials, dies, use of machinery, and overhead expenses including marketing costs. In order to carry out the purposes of this section, the Secretary shall enter into such arrangements with the Administrator of General Services (hereinafter referred to as the "Administrator") as may be appropriate. (b) The Administrator shall make such arrangements for the sale of medallions as will encourage broad public participation and will not preclude purchases of single pieces. (c) The Administrator may, after consultation with the Secretary, issue rules and regulations to carry out this section. SEC. 407. This title shall take eifect on October 1, 1979. TITLE V—CREDIT UNION RESTRUCTURING SEC. 501. Section 102 of the Federal Credit Union Act (12 U.S.C. 1752a) is amended to read as follows: ,

National Credit Union Administration. Establishment. Membership.

Term.

Management. Rules.

"CREATION or

ADMINISTRATION

"SEC. 102. (a) There is hereby established in the executive branch of the Government an independent agency to be known as the National Credit Union Administration. The Administration shall be under the management of a National Credit Union Administration Board. "(b) The Board shall consist of three members, who are broadly representative of the public interest, appointed by the President, by and with the advice and consent of the Senate. In appointing the members of the Board, the President shall designate the Chairman. Not more than two members of the Board shall be members of the same political party. "(c) The term of office of each member of the Board shall be six years, except that the terms of the two membere, other than the Chairman, initially appointed shall expire one upon the expiration of two years after the date of appointment, and the other upon the expiration of four years after the date of appointment. Board members shall not be appointed to succeed themselves except the initial members appointed for less than a six-year term may be reappointed for a full six-year term and future members appointed to fill unexpired terms may be reappointed for a full six-year term. Any Board member may continue to serve as such after the expiration of said member's term until a successor has qualified. "(d) The management of the Administration shall be vested in the Board. The Board shall adopt such rules as it sees fit for the trans-

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