Page:United States Statutes at Large Volume 96 Part 2.djvu/140

 96 STAT. 1502

PUBLIC LAW 97-320—OCT. 15, 1982 CONSUMER LOANS

SEC. 329. Section 5(c)(2)(B) of the Home Owners' Loan Act of 1933 (12 U.S.C. 1464(c)(2)(B)) is amended— (1) by inserting ", including loans reasonably incident to the provision of such credit," after "household purposes"; and (2) by inserting before the period at the end thereof the following: ", except that loans of an association under this subparagraph may not exceed 30 per centum of the assets of the association". ADDITIONAL INVESTMENT AUTHORITIES

SEC. 330. Section 5(c) of the Home Owners' Loan Act of 1933 (12 U.S.C. 1464(c)) is amended— (1) in paragraph (2), by striking out "20 per centum" and inserting in lieu thereof "the following percentages"; (2) by redesignating paragraph (6) as paragraph (5); (3) by striking out paragraph (2)(A) and inserting in lieu thereof the following: "(A) INVESTMENTS IN PERSONALTY.—Investments in tangi-

ble personal property, including, without limitation, vehicles, manufactured homes, machinery, equipment, or furniture, for rental or sale, but such investment may not exceed 10 per centum of the assets of the association."; (4) in paragraph (3)— (A) by striking out subparagraph (D); and (B) by amending subparagraph (A) to read as follows: "(A) EDUCATION LOANS.—Loans made for the payment of educational expenses."; and (5) in paragraph (4)— (A) by amending subparagraph (C) to read as follows: "(C) FOREIGN ASSISTANCE INVESTMENTS.—Investments in

22 USC 2181. 22 USC 2183 note.

22 USC 2181, ^^^^-

15 USC 681.

housing project loans having the benefit of any guaranty under section 221 of the Foreign Assistance Act of 1961 or loans having the benefit of any guarantee under section 224 of such Act, or any commitment or agreement with respect to such loans made pursuant to either of such sections and in the share capital and capital reserve of the Inter-American Savings and Loan Bank. This authority extends to the acquisition, holding and disposition of loans having the benefit of any guaranty under section 221 or 222 of such Act as hereafter amended or extended, or of any commitment or agreement for any such guaranty. Investments under this subparagraph shall not exceed, in the case of any association, 1 per centum of the assets of such association."; and (B) by amending subparagraph (D) to read as follows: "(D) SMALL BUSINESS INVESTMENT COMPANIES.—An association may invest in stock, obligations, or other securities of any small business investment company formed pursuant to section 301(d) of the Small Business Investment Act of 1958, for the purpose of aiding members of the Federal Home Loan Bank System, but no association may make any investment under this subparagraph if its aggregate outstanding investment under this subparagraph would exceed 1 per centum of the assets of such association.".

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