Federal Home Loan Bank Amendments, Hearings Before ..., 80-2 on S. 2416 ... S. 2417 ..., April 28, May 24 and 28, 1948 |
From inside the book
Results 1-5 of 8
Page 28
... conversion from State to Federal and back again , that as soon as the industry itself was in agreement within itself no time would be lost in taking positive action . Mr. ELLINGSON . I remember very distinctly that occasion . I think ...
... conversion from State to Federal and back again , that as soon as the industry itself was in agreement within itself no time would be lost in taking positive action . Mr. ELLINGSON . I remember very distinctly that occasion . I think ...
Page 33
... are very happy to see a final disposition of this conversion question in sight . We e are in hearty support of S. 2417 , FEDERAL HOME LOAN BANK AMENDMENTS 33 Smith, Ralph M , president, United States Savings and Loan League, Lexington, ...
... are very happy to see a final disposition of this conversion question in sight . We e are in hearty support of S. 2417 , FEDERAL HOME LOAN BANK AMENDMENTS 33 Smith, Ralph M , president, United States Savings and Loan League, Lexington, ...
Page 39
... conversion of a Federal savings and loan association into such a State institution is determined upon the vote in favor of such conversion cast in person or by proxy at a special meeting of members called to consider such action ...
... conversion of a Federal savings and loan association into such a State institution is determined upon the vote in favor of such conversion cast in person or by proxy at a special meeting of members called to consider such action ...
Page 40
... conversion has been obtained ; ( 6 ) that , in the event of dissolu- tion after conversion , the members or shareholders of the association will share on a mutual basis in the assets of the association in exact proportion to their ...
... conversion has been obtained ; ( 6 ) that , in the event of dissolu- tion after conversion , the members or shareholders of the association will share on a mutual basis in the assets of the association in exact proportion to their ...
Page 41
... conversion shall accept and be bound by all agreements required by section 403 of title IV of the National Housing Act and such insured institution shall upon such conversion and thereafter be authorized to issue securities in the form ...
... conversion shall accept and be bound by all agreements required by section 403 of title IV of the National Housing Act and such insured institution shall upon such conversion and thereafter be authorized to issue securities in the form ...
Common terms and phrases
amendments to H. R. amount equal annually bill as passed bonds borrow Budget Bureau capital stock centum Chairman Congress consideration the current Corporation's current average rate Deposit Insurance Corporation Divers ELLINGSON emergency enactment FDIC Federal association Federal Deposit Insurance Federal Home Loan Federal home-loan banks Federal Reserve System Federal Savings fiscal FITZPATRICK Foley Government capital Government Corporation Control HOLC Home Loan Bank Home Owners income insurance of accounts insured institutions insured members investments legislation Liberty Bond liquidity loan associations Loan Bank Act Loan Bank Board Loan Bank System loan business Loan Corporation Loan Insurance Corporation Loan League losses member institutions ment mortgage loans National Housing Act one-twelfth outstanding marketable obligations paid premium charge premium rate premium reduction President proposed amendment provision public funds purchase obligations rate on outstanding retirement Savings and Loan Secretary Senator CAIN stock equal subsection termination of insurance tion Treasury support undivided profits WIGGINS
Popular passages
Page 14 - Each such obligation shall bear interest at a rate determined by the Secretary of the Treasury, taking into consideration the current average rate on outstanding marketable obligations of the United States as of the last day of the month preceding the issuance of the obligation of the bank.
Page 57 - States, and such guaranty shall be expressed on the face thereof, and such bonds shall be lawful investments, and may be accepted as security for all fiduciary, trust, and public funds, the investment or deposit of which shall be under the authority or control of the United States or any officer or officers thereof.
Page 3 - If any provision of this Act, or the application of such provision to any person or circumstances, shall be held invalid, the remainder of this Act, or the application of such provision to persons or circumstances other than those as to which it is held invalid, shall not be affected thereby.
Page 10 - The Secretary of the Treasury, in his discretion, is authorized to purchase any obligations of the Corporation issued hereunder, and for such purpose the Secretary of the Treasury is authorized to use as a public-debt transaction the proceeds from the sale of any securities hereafter issued under the Second Liberty Bond Act, as amended, and the purposes for which securities may be issued under such Act, as amended, are extended to include any purchases of the Corporation's obligations hereunder.
Page 42 - Corporation may legally impose under section 403 of title IV of the National Housing Act, as now or hereafter amended, and the association shall upon conversion and thereafter be authorized to issue securities in any form...
Page 40 - ... such notice shall be mailed, postage prepaid, at least twenty and not more than thirty days prior to the date of the meeting, to each member of record of the Federal...
Page 10 - Treasury may sell, upon such terms and conditions and at such price or prices as he shall determine, any of the obligations acquired by him under this subsection. All purchases, and sales by the Secretary of the Treasury of such obligations under this subsection shall be treated as public debt transactions of the United States.
Page 11 - The Corporation is authorized to borrow from the Treasury, and the Secretary of the Treasury is authorized and directed to loan to the Corporation on such terms as may be fixed by the Corporation and the Secretary, such funds as in the judgment of the Board of Directors of the Corporation are from time to time required for insurance purposes, not exceeding in the aggregate $3,000,000,000 outstanding at any one time...
Page 51 - No Act of Congress hereafter passed shall be construed to make an appropriation out of the Treasury of the United States, or to authorize the execution of a contract involving the payment of money in excess of appropriations made by law, unless such Act shall in specific terms declare an appropriation to be made or that a contract may be executed.
Page 44 - In order to provide local mutual thrift institutions in which people may invest their funds and in order to provide for the financing of homes, the Board is authorized, under such rules and regulations as it may prescribe, to provide for the organization, incorporation, examination, operation, and regulation of associations to be known as "Federal Savings and Loan Associations...