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15 USC CHAPTER 14 - RECONSTRUCTION FINANCE CORPORATION 01/06/03

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TITLE 15 - COMMERCE AND TRADE

CHAPTER 14 - RECONSTRUCTION FINANCE CORPORATION

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CHAPTER 14 - RECONSTRUCTION FINANCE CORPORATION

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Sec.

601 to 619. Repealed, Omitted, or Transferred.

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ABOLITION OF RECONSTRUCTION FINANCE CORPORATION

Reconstruction Finance Corporation was abolished and remaining

functions transferred to Housing and Home Finance Agency,

Administrator of General Services, Administrator of Small Business

Administration, and Secretary of Commerce, such transfer including

assets and liabilities, administrative property, personnel, funds,

and records, pursuant to 1957 Reorg. Plan No. 1, eff. June 30,

1957, 22 F.R. 4633, 71 Stat. 647, set out in Appendix II of title

5, Government Organization and Employees. The Plan provided for

retirement of capital stock and payment of all unused funds into

the Treasury as miscellaneous receipts and required a final report

by Secretary of Treasury not later than June 30, 1959. Powers of

the Corporation relating to loans and advances were terminated at

close of business on sixtieth day after July 30, 1953, through

amendment of former section 604(f) of this title by act July 30,

1953, ch. 282, title I, Sec. 102(b), 67 Stat. 230. Consequential

liquidation of assets, winding up of affairs, and dissolution of

the Corporation and cancellation and retirement of its capital

stock were required under former section 608 of this title. Former

section 609 of this title required such liquidation, winding up of

affairs, and dissolution by Secretary of Treasury where such action

had been initiated but not completed by close of business on June

30, 1954.

REORGANIZATION PLAN NO. 1 OF 1957

EFF. JUNE 30, 1957, 22 F.R. 4633, 71 STAT. 647

Prepared by the President and transmitted to the Senate and the

House of Representatives in Congress assembled, April 29, 1957,

pursuant to the provisions of the Reorganization Act of 1949,

approved June 20, 1949, as amended (see 5 U.S.C. 901 et seq.).

ABOLITION OF THE RECONSTRUCTION FINANCE CORPORATION

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SECTION 1. DEFINITIONS

As used in this reorganization plan:

(a) The term ''Corporation'' means the Reconstruction Finance

Corporation.

(b) The term ''remaining functions'' means (1) all functions of

the Corporation, (2) except as otherwise provided in subsections

(b) and (c) of section 6 of this reorganization plan, all functions

of the Secretary of the Treasury under section 10 of the

Reconstruction Finance Corporation Act, as amended (15 U.S.C. 609),

and (3) all functions of the Secretary of the Treasury under

sections 102 and 106(b) of the Reconstruction Finance Corporation

Liquidation Act (67 Stat. 230, 231), as amended (section 603 and

section 609 note of this title).

(c) The term ''transferees'' means the Housing and Home Finance

Administrator, the Administrator of General Services, the

Administrator of the Small Business Administration, and the

Secretary of the Treasury.

SEC. 2. TRANSFER OF FUNCTIONS

(a) There are hereby transferred to the Housing and Home Finance

Administrator the remaining functions with respect to or arising

out of (1) the securities and obligations of, loans made to, and

contracts or other agreements with, States, municipalities,

political subdivisions thereof, public agencies, boards,

commissions or other public bodies, and (2) loans, securities and

obligations acquired in connection with programs of financial

assistance for drainage and irrigation projects.

(b) There are hereby transferred to the Administrator of General

Services the remaining functions with respect to or arising out of

(1) the affairs of the Smaller War Plants Corporation which were

transferred to the Corporation pursuant to Executive Order No. 9665

of December 27, 1945 (11 F.R. 3) and section 207 of Public Law 132

- 80th Congress 61 Stat. 209), (2) the national defense, war and

reconversion activities with respect to which notes of the

Corporation were cancelled pursuant to the provisions of Title II

of Public Law 860 - 80th Congress (62 Stat. 1187), and (3)

activities of the RFC Price Adjustment Board and the functions

transferred to the Corporation by Executive Order No. 9841 of April

23, 1947 (12 F.R. 2645).

(c) Except as otherwise provided in sections 2(d)(1) and 2(d)(2)

of this reorganization plan (relating to financial assistance to

railroads, etc., and to Schedule A hereto annexed), there are

hereby transferred to the Administrator of the Small Business

Administration the remaining functions with respect to or arising

out of programs of financial assistance to business enterprises and

to victims of floods or other disasters.

(d) There are hereby transferred to the Secretary of the Treasury

all functions of the Corporation not otherwise transferred by the

provisions of this reorganization plan, including, but not limited

to, all functions of the Corporation with respect to or arising out

of (1) programs of financial assistance to railroad companies,

financial institutions, and insurance companies, (2) the

obligations and loans listed in Schedule A hereto annexed, and (3)

the War Damage Corporation.

(e) The foregoing transfers include the transfer to each

transferee, for use in executing his respective functions

thereunder, of the powers, authority, rights, and immunities now

vested in or available or applicable to the Corporation for

carrying out the functions transferred to the transferee under this

reorganization plan.

SEC. 3. TRANSFER OF ASSETS AND LIABILITIES

The loans, obligations, securities, capital stock, and other

assets pertaining to the functions transferred by section 2 of this

reorganization plan (including accrued interest thereon, and

property acquired in connection therewith) and the liabilities,

contracts, bonds, mortgages, notes and other instruments relating

thereto are hereby transferred from the Corporation to the

respective transferees: Provided, however, That all assets,

liabilities, and commitments relating to the functions, transferred

by section 2 (a) of this reorganization plan are hereby transferred

to the Revolving Fund (Liquidating Programs) established by the

Independent Offices Appropriation Act, 1955 (68 Stat. 295) (12

U.S.C. 1701g-5).

SEC. 4. ADMINISTRATIVE PROPERTY, PERSONNEL, FUNDS AND RECORDS

In addition to the transfers made by the provisions of section 3

of this reorganization plan, there shall be transferred to the

Housing and Home Finance Agency, General Services Administration,

Small Business Administration, and Treasury Department so much as

the Director of the Bureau of the Budget shall determine to be

appropriate by reason of transfers made by sections 2 and 3 of this

reorganization plan of the administrative property, personnel,

records, liabilities and commitments of the Corporation or of the

Office of Production and Defense Lending in the Department of the

Treasury and of the authorizations, allocations, and funds

available or to be made available with respect to the transferred

functions (including, but in no way limiting the generality of the

foregoing, the authority to issue notes or other obligations to the

Secretary of the Treasury, which may be purchased by the Secretary,

under section 7 of the Reconstruction Finance Corporation Act, as

amended (15 U.S.C. 606), and the duty of making payments on such

notes or obligations issued by or transferred to the respective

transferee hereunder). In allocating the administrative expense

funds applicable to the functions transferred by the provisions of

this reorganization plan and said Director shall allocate and

transfer to the General Services Administration as a payment on

behalf of the Housing and Home Finance Agency, General Services

Administration, Small Business Administration and Treasury

Department such sum for rent of building space for the carrying out

of the transferred functions during the fiscal year ending June 30,

1958, as the said Director shall determine. Such further measures

and disposition as the Director of the Bureau of the Budget shall

determine to be necessary in order to effectuate the transfers

provided for in this section shall be carried out in such manner

and by such agencies as the Director shall direct.

SEC. 5. DELEGATION OF AUTHORITY

Each transferee may from time to time make such provisions as he

shall deem appropriate authorizing the performance by any officer,

employee, agency, or administrative unit under his jurisdiction of

any function transferred to him by the provisions of this

reorganization plan.

SEC. 6. ABOLITION OF THE CORPORATION

(a) The Corporation is hereby abolished.

(b) The Secretary of the Treasury shall retire the capital stock

of the Corporation and, subject to the provisions of section 4

hereof, shall pay into the Treasury, as miscellaneous receipts, all

unused funds of the Corporation.

(c) Not later than June 30, 1959, the Secretary of the Treasury

shall transmit a report to the Congress, which report (1) shall

cover the affairs of the Corporation up to the time of the taking

effect of the provisions of this reorganization plan, and (2) shall

correspond to the final report required by section 10 of the

Reconstruction Finance Corporation Act, as amended (15 U.S.C. 609).

The function of making the final report provided for in the said

section 10 is hereby abolished.

SEC. 7. EFFECTIVE DATE

The provisions of this reorganization plan shall take effect at

the time determined under the provisions of section 6(a) of the

Reorganization Act of 1949, as amended (see 5 U.S.C. 906(a)) or at

the close of June 30, 1957, whichever is later.

SCHEDULE A

This schedule annexed to Reorganization Plan No. 1 of 1957 lists

by name and address of the obligor or borrower the obligations and

loans referred to in clause (2) of section 2(d) of such

reorganization plan:

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Name of obligor or borrower Address

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Alaska Plywood Corp Juneau, Alaska.

Alford Refrigerated Warehouse Dallas, Tex.

Braun Bros. Packing Co Troy, Ohio.

Chromcraft Corp St. Louis, Mo.

Civic Hotel Corp Odessa, Tex.

Deep Water Terminals, Inc Brooklyn, N.Y.

Detroit Steel Corp Detroit, Mich.

Hal Roach Studios, Inc Culver City, Calif.

Hayward Woolen Co Whitinsville, Mass.

The Horle Arms Co Deep River, Conn.

Jack Tar of Arkansas, Inc Hot Springs, Ark.

Landers Packing Co Denver, Colo.

Langley Corp San Diego, Calif.

Lawton Community Hotel Lawton, Okla.

Lone Star Steel Co Dallas, Tex.

Louisville Builders Supply Co Louisville, Ky.

Lustron Corp Columbus, Ohio.

Mayfair Extension, Inc Washington, D.C.

New Haven Clock & Watch Co New Haven, Conn.

Oregon Fibre Products, Inc Pilot Rock, Oreg.

The Prudence Co., Inc New York, N.Y.

Seidelhuber Steel Rolling Mills Seattle, Wash.

South Water Building Corp Rockford, Ill.

South Water Machinery Corp Do.

Texas Consolidated Oils Dallas, Tex.

Texas Frozen Foods Corp Harlingen, Tex.

Waltham Watch Co Waltham, Mass.

Wheland Co Chattanooga, Tenn.

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SHORT TITLE OF ACT JULY 30, 1953, CH. 282, TITLE I

Congress, in enacting the amendments to sections 603(a) and

604(f) of this title; the provisions set out as notes under

sections 603 and 609 of this title; the provisions set out as

section 459 of former Title 40, Public Buildings, Property, and

Works; and the provisions set out as notes under sections 98 and

544 of Title 50, War and National Defense, section 1929 and

sections 2094 and 2261 of Appendix to title 50, provided by section

101 of such act that they should be popularly known as the

''Reconstruction Finance Corporation Liquidation Act''.

CONTINUATION OF PENDING PROCEEDINGS

Act July 30, 1953, ch. 282, title I, Sec. 105, 67 Stat. 231, as

amended by act June 29, 1954, ch. 410, Sec. 2(c), 68 Stat. 320,

provided that: ''No suit, action, or other proceeding lawfully

commenced by or against the Reconstruction Finance Corporation

shall abate by reason of the dissolution of the Corporation; but

the court may, on motion or supplemental petition filed at any time

within twelve months after the date of such dissolution and showing

a necessity for a survival of such suit, action, or other

proceeding to obtain a settlement of the questions involved, allow

the same to be maintained by or against the officer or agency of

the Government performing the functions with respect to which any

such suit, action, or other proceeding was commenced.''

EXTENSION OR RENEWAL OF LOANS

Section 4 of Pub. L. 85-536, July 18, 1958, 72 Stat. 396,

provided that: ''The Secretary of the Treasury is hereby authorized

to further extend the maturity of or renew any loan transferred to

the Secretary of the Treasury pursuant to Reorganization Plan

Numbered 1 of 1957 (set out as a note above), for additional

periods not to exceed ten years, if such extension or renewal will

aid in the orderly liquidation of such loan.''

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15 USC Sec. 601 to 616 01/06/03

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TITLE 15 - COMMERCE AND TRADE

CHAPTER 14 - RECONSTRUCTION FINANCE CORPORATION

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Sec. 601 to 616. Repealed or Omitted

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CODIFICATION

Section 601, acts Jan. 22, 1932, ch. 8, Sec. 1, 47 Stat. 5; June

30, 1947, ch. 166, title I, Sec. 1, 61 Stat. 202; May 25, 1948, ch.

334, Sec. 1, 62 Stat. 261; 1951 Reorg. Plan No. 1, Sec. 1, 5, 9,

eff. May 1, 1951, 16 F.R. 3690, 65 Stat. 773, 774, created the

Reconstruction Finance Corporation, which was abolished by section

6 of Reorg. Plan. No. 1 of 1957, eff. June 30, 1957, 22 F.R. 4633,

71 Stat. 647. Reorg. Plan No. 1 of 1957 is set out preceding

section 601 of this title.

Sections 601a, 601b, acts Jan. 20, 1934, ch. 3, Sec. 1, 48 Stat.

318; Jan. 31, 1935, ch. 2, Sec. 1, 49 Stat. 1, which extended the

life of the Corporation until Feb. 1, 1935, and Feb. 1, 1937,

respectively, were repealed by act of June 30, 1947, ch. 166, title

II, Sec. 206(i), (m), 61 Stat. 208.

Section 602, acts Jan. 22, 1932, ch. 8, Sec. 2, formerly Sec. 3,

47 Stat. 5; July 21, 1932, ch. 520, Sec. 205(b), 47 Stat. 714; July

22, 1932, ch. 522, Sec. 6(f), 47 Stat. 728; June 25, 1940, ch. 427,

Sec. 2, 54 Stat. 572; renumbered and amended June 30, 1947, ch.

166, title I, Sec. 1, title II, Sec. 206(a), 61 Stat. 202, 208; May

25, 1948, ch. 334, Sec. 2, 62 Stat. 262; Oct. 15, 1949, ch. 695,

Sec. 4, 5(a), 63 Stat. 880, related to the appointment,

qualifications and tenure of directors of the Reconstruction

Finance Corporation. It was repealed by Pub. L. 89-554, Sec. 8(a),

Sept. 6, 1966, 80 Stat. 648, 654, 655.

Section 603, acts Jan. 22, 1932, ch. 8, Sec. 3, formerly Sec. 4,

47 Stat. 5; July 21, 1932, ch. 520, Sec. 208(a), 47 Stat. 714; Feb.

24, 1938, ch. 32, Sec. 4, 52 Stat. 80; renumbered and amended June

30, 1947, ch. 166, title I, Sec. 1, title II, Sec. 206(a), 61 Stat.

202, 208; May 25, 1948, ch. 334, Sec. 3, 62 Stat. 262; July 30,

1953, ch. 282, title I, Sec. 102(a), 67 Stat. 230; June 29, 1954,

ch. 410, Sec. 2(b), 68 Stat. 320, provided for the powers of the

Reconstruction Finance Corporation, including appointment and pay

of employees. It was repealed by Pub. L. 89-554, Sec. 8(a), Sept.

6, 1966, 80 Stat. 648, 654, 655.

Section 603a, act Jan. 31, 1935, ch. 2, Sec. 1, 49 Stat. 1,

related to salaries of officers and employees. It was repealed by

act of June 30, 1947, ch. 166, title II, Sec. 206(m), 61 Stat. 208.

Section 603b, act June 30, 1949, ch. 286, title III, Sec. 301, 63

Stat. 375, provided for distribution of administrative expenses to

the accounts of the Corporation in accordance with generally

recognized accounting practices, which Corporation was abolished by

section 6 of Reorg. Plan. No. 1 of 1957, eff. June 30, 1957, 22

F.R. 4633, 71 Stat. 647. Reorg. Plan No. 1 of 1957 is set out

preceding section 601 of this title.

Section 603c, acts June 30, 1949, ch. 286, title III, Sec. 301,

63 Stat. 375; June 30, 1949, ch. 288, title I, Sec. 105, 63 Stat.

381, proscribed the use of funds of the Corporation for surplus

property or for benefit of other agencies, which Corporation was

abolished by section 6 of Reorg. Plan No. 1 of 1957, eff. June 30,

1957, 22 F.R. 4633, 71 Stat. 647. Reorg. Plan No. 1 of 1957 is set

out preceding section 601 of this title.

Section 604, acts Jan. 22, 1932, ch. 8, Sec. 4, formerly Sec. 5,

47 Stat. 6; June 19, 1934, ch. 653, Sec. 6(b), 48 Stat. 1109; June

25, 1940, ch. 427, Sec. 6(b), 54 Stat. 574; Aug. 7, 1946, ch. 811,

Sec. 1(a), 60 Stat. 901; renumbered and amended June 30, 1947, ch.

166, title I, Sec. 1, 61 Stat. 203; May 25, 1948, ch. 334, Sec. 4,

62 Stat. 263; June 29, 1948, ch. 723, 62 Stat. 1101; July 1, 1948,

ch. 784, Sec. 3, 4, 62 Stat. 1209; July 19, 1949, ch. 351, Sec. 2,

63 Stat. 446; Oct. 25, 1949, ch. 729, Sec. 4, 63 Stat. 906; April

20, 1950, ch. 94, title V, Sec. 506, 64 Stat. 81; Oct. 24, 1951,

ch. 555, Sec. 101, 65 Stat. 616; Reorg. Plan No. 1 of 1951, Sec. 1,

5, 9, eff. May 1, 1951, 16 F.R. 3690, 65 Stat. 773, 774; July 30,

1953, ch. 282, title I, Sec. 102(b), 67 Stat. 230, related to loans

and advances by the Corporation. It was repealed by Pub. L. 89-554,

Sec. 8(a), Sept. 6, 1966, 80 Stat. 648, 654.

Section 604a, act Jan. 20, 1934, ch. 3, Sec. 2, 48 Stat. 319,

related to time limitation in disbursement of funds committed by

the Corporation. It was repealed by act of June 30, 1947, ch. 166,

title II, Sec. 206(i), 61 Stat. 208.

Section 604b, act Jan. 31, 1935, ch. 2, Sec. 2, 49 Stat. 2,

related to limitation on disbursement of funds under commitment.

It was repealed by act of June 30, 1947, ch. 166, title II, Sec.

206(m), 61 Stat. 208, as amended May 27, 1948, ch. 334, Sec. 6, 62

Stat. 265.

Section 605, acts Jan. 22, 1932, ch. 8, Sec. 5, formerly Sec. 6,

47 Stat. 8; May 20, 1933, ch. 35, Sec. 2, 48 Stat. 73; June 19,

1934, ch. 653, Sec. 2, 48 Stat. 1107; June 25, 1940, ch. 427, Sec.

3(a), 54 Stat. 573; Sept. 18, 1940, ch. 722, title III, Sec.

331(a), (b), 54 Stat. 955; renumbered and amended June 30, 1947,

ch. 166, title I, Sec. 1, title II, Sec. 206(a), (e), 61 Stat. 202,

208, authorized and directed the Federal Reserve banks to act as

custodians and fiscal agents for the Corporation, which Corporation

was abolished by section 6 of Reorg. Plan No. 1 of 1957, eff. June

30, 1957, 22 F.R. 4633, 71 Stat. 647. Reorg. Plan No. 1 of 1957 is

set out preceding section 601 of this title.

Section 605a, act July 21, 1932, ch. 520, Sec. 1, 47 Stat. 709,

related to loans to States and municipalities for unemployment

relief purposes. It was repealed by act of June 30, 1947, ch. 166,

title II, Sec. 206(a), 61 Stat. 208.

Section 605b, acts July 21, 1932, ch. 520, Sec. 201, 47 Stat.

711; Mar. 23, 1933, ch. 5, 48 Stat. 20; Ex. Ord. No. 6084, May 27,

1933; May 29, 1933, ch. 42, title I, 48 Stat. 99; June 10, 1933,

ch. 55, Sec. 5-9, 48 Stat. 120, 121; June 16, 1933, ch. 98, Sec.

80, 48 Stat. 273; June 16, 1933, ch. 100, Sec. 5, 48 Stat. 283,

authorized loans to States, municipalities, etc., for

self-liquidating projects. Subsecs. (a) to (d) and (f) to (j) were

repealed by act June 30, 1947, ch. 166, title II, Sec. 206(a), (e),

61 Stat. 208.

Subsec. (e) related to the creation of regional agricultural

credit corporations by the Reconstruction Finance Corporation, the

functions of which Corporation were transferred by act June 30,

1947, ch. 166, title II, Sec. 206, 61 Stat. 208 (12 U.S.C. 1148) to

the Farm Credit Administration and which Corporation was abolished

by section 6 of Reorg. Plan No. 1 of 1957, eff. June 30, 1957, 22

F.R. 4633, 71 Stat. 647. Reorg. Plan No. 1 of 1957 is set out

preceding section 601 of this title.

Section 605c, act July 21, 1932, ch. 520, Sec. 206, 47 Stat. 714,

authorized loans to borrowers organized under laws of Alaska,

District of Columbia, Hawaii and Puerto Rico. It was repealed by

act of June 30, 1947, ch. 166, title II, Sec. 206(a), 61 Stat. 208.

Section 605d, act July 21, 1932, ch. 520, Sec. 207, 47 Stat. 715,

prohibited loans to financial institutions whose officers or

directors are also directors of Reconstruction Finance Corporation.

It was repealed by act of June 30, 1947, ch. 166, title II, Sec.

206(a), 61 Stat. 208.

Section 605e, acts June 10, 1933, ch. 55, Sec. 1, 48 Stat. 119;

Jan. 31, 1935, ch. 2, Sec. 8, 49 Stat. 4, related to purchase of

preferred stock of insurance companies. It was repealed by act of

June 30, 1947, ch. 166, title II, Sec. 206(e), 61 Stat. 208.

Sections 605f, 605g, acts June 10, 1933, ch. 55, Sec. 2, 3, 48

Stat. 120; June 19, 1934, ch. 653, Sec. 12(a), 48 Stat. 1111, which

related to loans or purchases of capital notes of insurance

companies, and the financial showing necessary for the purchase of

stock or making of loans, were repealed by act of June 30, 1947,

ch. 166, title II, Sec. 206(e), 61 Stat. 208.

Section 605h, act June 10, 1933, ch. 55, Sec. 4, 48 Stat. 120,

prohibited the making of loans to applicants whose officers or

employees were receiving unreasonable compensation. It was

repealed by act of June 30, 1947, ch. 166, title II, Sec. 206(e),

61 Stat. 208.

Sections 605i, acts June 10, 1933, ch. 55, Sec. 11, 48 Stat. 121;

June 19, 1934, ch. 653, Sec. 12(b), 48 Stat. 1112, defined

insurance company and State.

Section 605j, act June 10, 1933, ch. 55, Sec. 14, 48 Stat. 122,

reserved right to amend or repeal former sections 605e to 605i of

this title and provided for separability of their provisions. It

was repealed by act of June 30, 1947, ch. 166, title II, Sec.

206(e), 61 Stat. 208.

Section 605k, acts Apr. 13, 1934, ch. 121, 48 Stat. 589; July 26,

1935, ch. 421, 49 Stat. 505; Apr. 17, 1936, ch. 234, Sec. 1, 49

Stat. 1232, authorized the Reconstruction Finance Corporation to

make loans for repair of damage caused by floods and other

catastrophes, which Corporation was abolished by section 6 of

Reorg. Plan No. 1 of 1957, eff. June 30, 1957, 22 F.R. 4633, 71

Stat. 646. Reorg. Plan No. 1 of 1957 is set out preceding section

601 of this title.

Section 605k-1, acts Feb. 11, 1937, ch. 10, 50 Stat. 19; May 28,

1937, ch. 275, 50 Stat. 211; Mar. 3, 1938, ch. 40, 52 Stat. 84;

Mar. 4, 1939, ch. 4, 53 Stat. 510; June 10, 1941, ch. 190, Sec. 1,

55 Stat. 248, related to the creation and powers of the Disaster

Loan Corporation and was rendered obsolete by Joint Res. June 30,

1945, ch. 215, Sec. 1, 59 Stat. 310, which dissolved the

Corporation and transferred all powers, functions, duties,

liabilities, etc., to the Reconstruction Finance Corporation.

Section 2 of Joint Res. June 30, 1945, saved all pending court or

other proceedings and provided that the Court could, upon motion

filed within one year after July 1, 1945, substitute the

Reconstruction Finance Corporation for the Disaster Loan

Corporation. Section 3 of Joint Res. June 30, 1945, provided that

it should become effective July 1, 1945. It was repealed by act of

June 30, 1947, ch. 166, title II, Sec. 206(r), 61 Stat. 209.

Section 605l, act Jan. 31, 1935, ch. 2, Sec. 11, 49 Stat. 5,

related to substitution of bonds or other evidence of indebtedness

held by the Corporation. It was repealed by act of June 30, 1947,

ch. 166, title II, Sec. 206(m), 61 Stat. 208.

Section 605m, acts Jan. 31, 1935, ch. 2, Sec. 3, 49 Stat. 2; June

25, 1940, ch. 427, Sec. 3(b), 54 Stat. 573; Sept. 18, 1940, ch.

722, title III, Sec. 331(c), 54 Stat. 956, related to maturity of

loans made by the Corporation generally and to railroads in

particular. It was repealed by act of June 30, 1947, ch. 166,

title II, Sec. 206(m), 61 Stat. 208, as amended May 25, 1948, ch.

334, Sec. 6, 62 Stat. 265.

Section 606, acts Jan. 22, 1932, ch. 8, Sec. 7, 47 Stat. 8; June

30, 1947, ch. 166, title I, Sec. 1, 61 Stat. 202, authorized the

Reconstruction Finance Corporation to issue notes, bonds, etc.,

which Corporation was abolished by section 6 of Reorg. Plan No. 1

of 1957, eff. June 30, 1957, 22 F.R. 4633, 71 Stat. 647. A prior

section 606, act Jan. 22, 1932, ch. 8, Sec. 5a, 47 Stat. 8, was

omitted in the general revision of act Jan. 22, 1932, by act June

30, 1947, ch. 166. Reorg. Plan No. 1 of 1957 is set out preceding

section 601 of this title.

Section 606a, act Jan. 22, 1932, ch. 8, Sec. 5e, as added June

16, 1934, ch. 546, Sec. 3, 48 Stat. 971; Jan. 31, 1935, ch. 2, Sec.

6, 49 Stat. 3, which related to loans on or purchase of assets of

closed financial institutions, was omitted by act June 30, 1947,

ch. 166, title I, Sec. 1, 61 Stat. 202, which generally amended the

Reconstruction Finance Corporation Act, act Jan. 22, 1932, ch. 8,

47 Stat. 5.

Section 606b, act Jan. 22, 1932, ch. 8, Sec. 5d, as added June

19, 1934, ch. 653, Sec. 5, 48 Stat. 1108; amended Jan. 31, 1935,

ch. 2, Sec. 10, 49 Stat. 4; Apr. 13, 1938, ch. 140, 52 Stat. 212;

June 25, 1940, ch. 427, Sec. 5, 6(c), 54 Stat. 573, 574; Sept. 26,

1940, ch. 734, Sec. 1, 54 Stat. 961; June 10, 1941, ch. 190, Sec.

4, 55 Stat. 249; June 11, 1942, ch. 404, Sec. 9, 56 Stat. 355,

which provided for loans to States, municipalities, public

agencies, and business enterprises, was omitted by act June 30,

1947, ch. 166, title I, Sec. 1, 61 Stat. 202, which generally

amended the Reconstruction Finance Corporation Act, act Jan. 22,

1932, ch. 8, 47 Stat. 5. Act June 30, 1947, ch. 166, title II, Sec.

206(x), (z), 61 Stat. 209, repealed acts Mar. 27, 1942, ch. 198,

Sec. 1, 56 Stat. 174; Aug. 7, 1946, ch. 811, Sec. 1, 60 Stat. 901

formerly cited to section 606b of this title.

Section 606b-1, act Jan. 22, 1932, ch. 8, Sec. 5f, as added Mar.

27, 1942, ch. 198, Sec. 2, 56 Stat. 175, related to transfer of

real estate to Corporation by Government agencies. It was repealed

by act of June 30, 1947, ch. 166, title II, Sec. 206(x), 61 Stat.

209.

Section 606b-2, act Jan. 22, 1932, ch. 8, Sec. 5g, as added Mar.

27, 1942, ch. 198, Sec. 2, 56 Stat. 175, related to funds for War

Damage Corporation. It was repealed by act of June 30, 1947, ch.

166, title II, Sec. 206(x), 61 Stat. 209.

Section 606b-3, act Jan. 22, 1932, ch. 8, Sec. 5h, as added May

11, 1942, ch. 301, 56 Stat. 275, was omitted by act June 30, 1947,

ch. 166, title I, Sec. 1, 61 Stat. 202, which generally amended the

Reconstruction Finance Corporation Act, act Jan. 22, 1932, ch. 8,

47 Stat. 5.

Section 606b-4, act Aug. 7, 1946, ch. 811, Sec. 2, 60 Stat. 902,

related to purchase of servicemen's guaranteed or insured

readjustment loans. It was repealed by act of June 30, 1947, ch.

166, title II, Sec. 206(z), 61 Stat. 209.

Section 606b-5, act Aug. 7, 1946, ch. 811, Sec. 3, 60 Stat. 902,

authorized extension of credit by Reconstruction Finance

Corporation to Republic of the Philippines, which Corporation was

abolished by section 6 of Reorg. Plan No. 1 of 1957, eff. June 30,

1957, 22 F.R. 4633, 71 Stat. 647. Reorg. Plan No. 1 of 1957 is set

out preceding section 601 of this title.

Section 606c, act June 19, 1934, ch. 653, Sec. 13, 48 Stat. 1112,

related to loans for organizing farmers' mineral rights pools. It

was repealed by act of June 30, 1947, ch. 166, title II, Sec.

206(k), 61 Stat. 208.

Section 606d, acts June 19, 1934, ch. 653, Sec. 14, 48 Stat.

1112; Jan. 31, 1935, ch. 2, Sec. 12, 49 Stat. 5; Sept. 16, 1940,

ch. 721, 54 Stat. 897, related to loans to aid mining, milling and

smelting industry. It was repealed by act of June 30, 1947, ch.

166, title II, Sec. 206(k), 61 Stat. 208.

Section 606e, act June 19, 1934, ch. 653, Sec. 15, 48 Stat. 1112,

related to loans to aid fishing industry. It was repealed by act

of June 30, 1947, ch. 166, title II, Sec. 206(k), 61 Stat. 208.

Section 606f, act June 19, 1934, ch. 653, Sec. 16, 48 Stat. 1113,

related to loans for payment of teachers' salaries due prior to

June 1, 1934. It was repealed by act of June 30, 1947, ch. 166,

title II, Sec. 206(k), 61 Stat. 208.

Section 606g, act Jan. 22, 1932, ch. 8, Sec. 5b, as added June

19, 1934, ch. 653, Sec. 8, 48 Stat. 1109, was omitted by act June

30, 1947, ch. 166, title I, Sec. 1, 61 Stat. 202, which generally

amended the Reconstruction Finance Corporation Act, act Jan. 22,

1932, ch. 8, 47 Stat. 5.

Section 606h, act June 19, 1934, ch. 653, Sec. 10, 48 Stat. 1110,

related to adjustment of maturities of obligations of borrowers.

It was repealed by act of June 30, 1947, ch. 166, title II, Sec.

206(k), 61 Stat. 208.

Section 606i, act Jan. 22, 1932, ch. 8, Sec. 5c, as added Jan.

31, 1935, ch. 2, Sec. 5, 49 Stat. 3, was omitted by act June 30,

1947, ch. 166, title I, Sec. 1, 61 Stat. 202, which generally

amended the Reconstruction Finance Corporation Act, act Jan. 22,

1932, ch. 8, 47 Stat. 5.

Section 606j, act Aug. 24, 1935, ch. 646, Sec. 1, 49 Stat. 796,

related to loans to public school districts and authorities. It

was repealed by act of June 30, 1947, ch. 166, title II, Sec.

206(n), (u), 61 Stat. 208, 209.

Section 606k, act Aug. 24, 1935, ch. 646, Sec. 2, 49 Stat. 798,

related to limitation of loans authorized by former section 606j of

this title. It was repealed by act of June 30, 1947, ch. 166,

title II, Sec. 206(n), (u), 61 Stat. 208, 209.

Section 606l, act Sept. 5, 1940, ch. 715, Sec. 12, 54 Stat. 871,

related to financing acquisition of right-of-way for Federal aid

roads. It was repealed by act of June 30, 1947, ch. 166, title II,

Sec. 206(n), (u), 61 Stat. 208, 209.

Section 607, acts Jan. 22, 1932, ch. 8, Sec. 8, 47 Stat. 8; July

21, 1932, ch. 520, Sec. 204, 47 Stat. 714; Ex. Ord. No. 6084, Mar.

27, 1933; Aug. 23, 1935, ch. 614, Sec. 203(a), 49 Stat. 704; June

30, 1947, ch. 166, title I, Sec. 1, title II, Sec. 206(a), 61 Stat.

202, 208; May 25, 1948, ch. 334, Sec. 5, 62 Stat. 265, exempted the

Reconstruction Finance Corporation from all federal and local

taxation except on real property, which Corporation was abolished

by section 6 of Reorg. Plan No. 1 of 1957, eff. June 30, 1957, 22

F.R. 4633, 71 Stat. 647. Reorg. Plan No. 1 of 1957 is set out

preceding section 601 of this title.

Section 607a, act Jan. 31, 1935, ch. 2, Sec. 13, 49 Stat. 5,

related to use of receipts from sale of securities. It was

repealed by act of June 30, 1947, ch. 166, title II, Sec. 206(m),

61 Stat. 208.

Section 608, acts Jan. 22, 1932, ch. 8, Sec. 9, 47 Stat. 9; July

21, 1932, ch. 520, Sec. 204, 47 Stat. 714; Mar. 4, 1939, ch. 4, 53

Stat. 510; June 30, 1947, ch. 166, title I, Sec. 1, title II, Sec.

206(a), 61 Stat. 202, 208; 1951 Reorg. Plan No. 1, Sec. 1, 5, 9,

eff. May 1, 1951, 16 F.R. 3690, 65 Stat 773, 774, provided for the

possible premature liquidation of the Reconstruction Finance

Corporation, which Corporation was abolished by section 6 of Reorg.

Plan No. 1 of 1957, eff. June 30, 1957, 22 F.R. 4633, 71 Stat.

647. Reorg. Plan No. 1 of 1957 is set out preceding section 601 of

this title.

Section 609, acts Jan. 22, 1932, ch. 8, Sec. 10, 47 Stat. 9; July

21, 1932, ch. 520, Sec. 209, 47 Stat. 715; June 10, 1941, ch. 190,

Sec. 3, 55 Stat. 248; June 30, 1947, ch. 166, title I, Sec. 1,

title II, Sec. 206(a), 61 Stat. 202, 208; 1951 Reorg. Plan No. 1,

Sec. 1, 5, 9, eff. May 1, 1951, 16 F.R. 3690, 65 Stat. 773, 774;

June 29, 1954, ch. 410, Sec. 2(a), 68 Stat. 320, transferred from

the Administrator to the Secretary of the Treasury the duty of

completing the liquidation of the Reconstruction Finance

Corporation after June 30, 1954, which Corporation was abolished by

section 6 of Reorg. Plan No. 1 of 1957, eff. June 30, 1957, 22

F.R. 4633, 71 Stat. 647. Reorg. Plan No. 1 of 1957 is set out

preceding section 601 of this title.

Section 609a, act July 21, 1932, ch. 520, Sec. 205(a), 47 Stat.

714, increased the amount of obligations the Corporation could have

outstanding, to six and three-fifths times its capital stock. It

was repealed by act of June 30, 1947, ch. 166, title II, Sec.

206(a), 61 Stat. 208.

Section 609a-1, act June 22, 1946, ch. 445, Sec. 1, 60 Stat. 294,

was from the Department of Agriculture Appropriation Act, 1947, and

increased by $50,000,000 the amount of obligations the Corporation

could issue or have outstanding.

Section 609b, act June 16, 1933, ch. 90, title III, Sec. 302, 48

Stat. 210, decreased by $400,000,000 the amount of obligations the

Corporation could have outstanding. It was repealed by act of June

30, 1947, ch. 166, title II, Sec. 206(c), 61 Stat. 208.

Section 609b-1, formerly 609bb, act Jan. 20, 1934, ch. 3, Sec. 3,

48 Stat. 319, increased by $850,000,000 the amount of obligations

the Corporation could have outstanding. It was repealed by act of

June 30, 1947, ch. 166, title II, Sec. 206(g), 61 Stat. 208.

Section 609c, act May 12, 1933, ch. 25, title II, Sec. 38, 48

Stat. 50, increased by $300,000,000 the amount of obligations the

Corporation could have outstanding, to provide funds for

agricultural credits. It was repealed by act of June 30, 1947, ch.

166, title II, Sec. 206(c), 61 Stat. 208.

Section 609c-1, act May 12, 1933, ch. 30, Sec. 2(b), 48 Stat. 56,

increased by $500,000,000 the Corporation's authority to issue

notes, debentures, etc.

Section 609d, act June 19, 1934, ch. 648, title II, Sec. 1, 48

Stat. 1056; Reorg. Plan No. 1 of 1939, Sec. 301, 305, eff. July 1,

1939, 4 F.R. 2729, 2730, 53 Stat. 1426, 1428, increased by

$250,000,000 the amount of obligations the Corporation could have

outstanding, to purchase securities from the Public Works

Administration. It was repealed by act of June 30, 1947, ch. 166,

title II, Sec. 206(j), 61 Stat. 208.

Section 609e, act June 29, 1937, 11 p.m., ch. 401, Sec. 202, 50

Stat. 357; Reorg. Plan No. I of 1939, Sec. 301, 305, eff. July 1,

1939, 4 F.R. 2729, 2730, 53 Stat. 1426, 1428, increased to

$400,000,000 the amount the Corporation could invest in securities

purchased from the Public Works Administration. It was repealed by

act of June 30, 1947, ch. 166, title II, Sec. 206(j), 61 Stat. 208.

Section 609f, act Feb. 24, 1938, ch. 32, Sec. 2, 52 Stat. 80,

reduced the amount of outstanding obligations authorized under

former section 611a of this title, by the amount of notes

authorized to be cancelled pursuant to section. Section was not

enacted as a part of the Reconstruction Finance Corporation Act

which comprises this chapter.

Section 609g, act June 25, 1940, ch. 421, Sec. 1, 54 Stat. 565,

authorized an additional $50,000,000.

Section 609h, act June 25, 1940, ch. 421, Sec. 1, 54 Stat. 567,

authorized an additional $100,000,000.

Section 609i, act June 26, 1940, ch. 432, Sec. 2(c), 54 Stat.

614, authorized Corporation to advance to Secretary of Agriculture

upon his request an amount not to exceed $125,000,000.

Section 609j, act Jan. 22, 1932, ch. 8, Sec. 5d, as added June

19, 1934, ch. 653, Sec. 5, 48 Stat. 1108; amended Sept. 26, 1940,

ch. 734, Sec. 2, 54 Stat. 962, authorized an additional

$1,500,000,000, and was omitted by act June 30, 1947, ch. 166,

title I, Sec. 1, 61 Stat. 202, which generally amended the

Reconstruction Finance Corporation Act, act Jan. 22, 1932, ch. 8,

47 Stat. 5.

Section 609k, act June 27, 1934, ch. 847, title VI, Sec. 602, as

added Mar. 28, 1941, ch. 31, 55 Stat. 55, authorized an additional

amount of $10,000,000 to be used for the Defense Housing Insurance

Fund. It was repealed by act of June 30, 1947, ch. 166, title II,

Sec. 206(l), 61 Stat. 208.

Sections 609l, 609m, and 609n, act July 1, 1941, ch. 267, Sec. 1,

55 Stat. 439, 440, 442, authorized an additional $270,000,000.

Section 609o, act June 10, 1941, ch. 190, Sec. 5, 55 Stat. 250,

authorized an additional $1,500,000,000. It was repealed by act of

June 30, 1947, ch. 166, title II, Sec. 206(v), 61 Stat. 209.

Section 609p, act Oct. 23, 1941, ch. 454, 55 Stat. 744,

authorized an additional $1,500,000,000. It was repealed by act of

June 30, 1947, ch. 166, title II, Sec. 206(w), 61 Stat. 209.

Section 609q, act Mar. 27, 1942, ch. 198, Sec. 3, 56 Stat. 176,

authorized an additional $2,500,000,000. It was repealed by act of

June 30, 1947, ch. 166, title II, Sec. 206(x), 61 Stat. 209.

Section 609r, act June 5, 1942, ch. 352, 56 Stat. 326, authorized

an additional $5,000,000,000. It was repealed by act of June 30,

1947, ch. 166, title II, Sec. 206(y), 61 Stat. 209.

Sections 609s to 609u, act July 22, 1942, ch. 516, 56 Stat. 695,

697, 698, authorized an additional $140,000,000.

Section 609v, acts July 12, 1943, ch. 215, 57 Stat. 426; June 28,

1944, ch. 296, 58 Stat. 456; May 5, 1945, ch. 109, 59 Stat. 160,

authorized an indefinite amount to carry out certain provisions of

section.

Section 609w, acts July 12, 1943, ch. 215, 57 Stat. 428; June 28,

1944, ch. 296, 58 Stat. 457, authorized an additional $15,000,000.

Section 609x, act June 28, 1944, ch. 296, 58 Stat. 458,

authorized an additional $25,000,000.

Section 609y, act May 5, 1945, ch. 109, 59 Stat. 162, authorized

an additional $50,000,000.

Section 609z, act June 22, 1946, ch. 445, 60 Stat. 293,

authorized an additional $70,000,000.

Section 610, acts Jan. 22, 1932, ch. 8, Sec. 11, 47 Stat. 10;

June 30, 1947, ch. 166, title I, Sec. 1, 61 Stat. 202, relating to

penalties for false statements, etc., is now covered by sections

493, 657, 709, 1006, 1014, and 1904 of Title 18, Crimes and

Criminal Procedure. It was repealed by act of May 24, 1949, ch.

139, Sec. 142, 63 Stat. 109, and Sept. 6, 1966, Pub. L. 89-554,

Sec. 8(a), 80 Stat. 654.

Section 611, acts Jan. 22, 1932, ch. 8, Sec. 12, 47 Stat. 10;

June 30, 1947, ch. 166, title I, Sec. 1, 61 Stat. 202, authorized

the Reconstruction Finance Corporation to exercise functions,

powers, etc., of certain dissolved corporations, which Corporation

was abolished by section 6 of Reorg. Plan No. 1 of 1957, eff. June

30, 1957, 22 F.R. 4633, 71 Stat. 647. Reorg. Plan No. 1 of 1957 is

set out preceding section 601 of this title.

Section 611a, act Feb. 24, 1938, ch. 32, Sec. 1, 52 Stat. 79,

provided for the cancellation of notes of the Reconstruction

Finance Corporation by the Secretary of the Treasury, which

Corporation was abolished by section 6 of Reorg. Plan No. 1 of

1957, eff. June 30, 1957, 22 F.R. 4633, 71 Stat. 647. Reorg. Plan

No. 1 of 1957 is set out preceding section 601 of this title.

Section 611a-1, act Jan. 31, 1942, ch. 30, 56 Stat. 40, related

to the disposition by the Secretary of the Treasury of county,

municipal, and other securities transferred from the Reconstruction

Finance Corporation, which Corporation was abolished by section 6

of Reorg. Plan No. 1 of 1957, eff. June 30, 1957, 22 F.R. 4633, 71

Stat. 647. Reorg. Plan No. 1 of 1957 is set out preceding section

601 of this title.

Section 611b, act Feb. 24, 1938, ch. 32, Sec. 3, 52 Stat. 80,

related to the transfer of repayments or recoveries to the general

fund of the Treasury.

Section 612, act Jan. 22, 1932, ch. 8, Sec. 12, 47 Stat. 10,

authorized the Corporation to be a depositary of public moneys, and

was not covered in act June 30, 1947, ch. 166, title I, Sec. 1, 61

Stat. 202, which generally amended the Reconstruction Finance

Corporation Act, act Jan. 22, 1932, ch. 8, 47 Stat. 5.

Section 613, act Jan. 22, 1932, ch. 8, Sec. 13, 47 Stat. 10,

provided for the liquidation of the Corporation by the directors,

and was covered by section 9 of act Jan. 22, 1932, as amended by

act June 30, 1947, ch. 166, title I, Sec. 1, 61 Stat. 202, and set

out as section 608 of this title.

Sections 613a, 613b, acts Jan. 20, 1934, ch. 3, Sec. 1, 48 Stat.

318; Jan. 31, 1935, ch. 2, Sec. 1, 49 Stat. 1 which, extended the

time for liquidation of the Corporation pursuant to former section

613 of this title, were repealed by act of June 30, 1947, ch. 166,

title II, Sec. 206(i), (m), 61 Stat. 208.

Section 613c, acts Jan. 26, 1937, ch. 6, Sec. 1, 50 Stat. 5; Mar.

4, 1939, ch. 4, 53 Stat. 510; June 25, 1940, ch. 427, Sec. 6(a), 54

Stat. 574, further extended the time for liquidation of the

Corporation and provided for suspension of lending authority by

districts. Act Aug. 7, 1946, ch. 811, Sec. 1, 60 Stat. 901, which

also amended act Jan. 26, 1937, was repealed by act June 30, 1947,

ch. 166, title II, Sec. 206(q), (z), 61 Stat. 209.

Section 614, acts Jan. 22, 1932, ch. 8, Sec. 14, 47 Stat. 10;

June 25, 1940, ch. 427, Sec. 6(b), 54 Stat. 574, relating to

completion of liquidation of the Corporation by Secretary of

Treasury, was omitted by act June 30, 1947, ch. 166, title I, Sec.

1, 61 Stat. 202, which generally amended the Reconstruction Finance

Corporation Act, act Jan. 22, 1932, ch. 8, 47 Stat. 5. Act Aug. 7,

1946, ch. 811, Sec. 1, 60 Stat. 901, which also amended section 14

of act Jan. 22, 1932, was repealed by section 206(z) of act June

30, 1947.

Section 615, act Jan. 22, 1932, ch. 8, Sec. 15, 47 Stat. 11,

relating to reports to Congress, was omitted by act June 30, 1947,

ch. 166, title I, Sec. 1, 61 Stat. 202, which generally amended the

Reconstruction Finance Corporation Act, act Jan. 22, 1932, ch. 8,

47 Stat. 5.

Section 616, act Jan. 22, 1932, ch. 8, Sec. 16, 47 Stat. 11,

related to false statements, forgery, embezzlement, and use of

words ''Reconstruction Finance Corporation'', and is now covered by

sections 433, 493, 657, 709, 1006, 1014, and 1904 of Title 18,

Crimes and Criminal Procedure.

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15 USC Sec. 616a 01/06/03

-EXPCITE-

TITLE 15 - COMMERCE AND TRADE

CHAPTER 14 - RECONSTRUCTION FINANCE CORPORATION

-HEAD-

Sec. 616a. Transferred

-COD-

CODIFICATION

Section 616a, acts Mar. 26, 1934, ch. 90, 48 Stat. 500; June 29,

1936, ch. 858, title II, Sec. 204, 49 Stat. 1987, which related to

the shipment of exports financed by the Government in United States

vessels, was transferred to section 1241-1 of Title 46, Appendix,

Shipping.

-CITE-

15 USC Sec. 617 to 619 01/06/03

-EXPCITE-

TITLE 15 - COMMERCE AND TRADE

CHAPTER 14 - RECONSTRUCTION FINANCE CORPORATION

-HEAD-

Sec. 617 to 619. Repealed or Omitted

-MISC1-

Section 617, act Jan. 22, 1932, ch. 8, Sec. 17, 47 Stat. 12, was

omitted by act June 30, 1947, ch. 166, title I, Sec. 1, 61 Stat.

202, which generally amended the Reconstruction Finance Corporation

Act, act Jan. 22, 1932, ch. 8, 47 Stat. 5.

Section 618, act June 30, 1947, ch. 166, title II, Sec. 208, 61

Stat. 209, related to purchase and sale of surplus property, and

was repealed by act of May 25, 1948, ch. 334, Sec. 7, 62 Stat. 265.

Section 619, act July 29, 1947, ch. 346, title II, Sec. 201, 61

Stat. 515, related to limitations on use of funds of the

Corporation, which Corporation was abolished by section 6 of Reorg.

Plan No. 1 of 1957, eff. June 30, 1957, 22 FR 4633, 71 Stat. 647.

Reorg. Plan No. 1 of 1957 is set out preceding section 601 of this

title.

-CITE-