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Chapter 574 1st Session

S. 1051

AN ACT

All 69 Stat. 535.

To amend section 8a (4) of the Commodity Exchange Act, as amended.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled. That section 8a (4) Commodity exof the Commodity Exchange Act, as amended (7 U. S. C. 12a (4)), changes. is amended to read as follows:

"(4) to fix and establish from time to time reasonable fees and charges for registrations and renewals thereof and for copies of registration certificates; and".

Approved August 5, 1955.

Registration

fees.
49 Stat. 1500.

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To increase the borrowing power of Commodity Credit Corporation.

Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled, That section 4 of
the Act approved March 8, 1938 (52 Stat. 108), as amended, is amended 15 USC
by striking out "$10,000,000,000" and inserting in lieu thereof 713a-4.
$12,000,000,000".

SEC. 2. Section 4 (i) of the Commodity Credit Corporation Charter 15 USC
Act (62 Stat. 1070), as amended, is amended by striking out 714b (1).
"$10,000,000,000" and inserting in lieu thereof "$12,000,000,000".
Approved August 11, 1955.

Chapter 633 - 1st Session
S. 1758

AN ACT

To amend the Bankhead-Jones Farm Tenant Act, as amended, to modify, clarify, and provide additional authority for insurance of loans.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That the Bankhead- Farm tenant Jones Farm Tenant Act, as amended (7 U. S. C. 1000 and the follow- loans. ing), is further amended as follows:

Title I of the Act is amended by the addition of the following new section 16:

Insurance authority.

60 Stat. 1072.

1006b.

"SEC. 16. (a) The Secretary is authorized to insure and to make commitments for the insurance of loans made for the purposes spec- 69 Stat. 553. ified in this title (including those made in accordance with the Act 69 Stat. 554. of October 19, 1949) and to take as security for the obligations entered 63 Stat. 883. into in connection with such loans first mortgages on the farms with 7 USC 10066, respect to which such loans are made and such other security as may be required by the Secretary. Such mortgages shall create a lien running to the United States for the benefit of the fund, notwithstanding the fact that the note may be held by the lender or his assignee.

"(b) Loans insured under this section shall be subject to all the provisions of this title, except as otherwise provided in this section, and with respect to such loans, the terms used in this Act shall have the following meanings as the context requires:

"(1) 'Mortgage' shall mean 'loan' or 'the instruments relating to a loan';

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(2) Insured mortgage' shall mean 'note endorsed for insurance'; "(3) 'Mortgagor' shall mean 'borrower' or 'obligor on the note'; "(4) 'Mortgagee' shall mean 'lender' or, 'holder of insured note'. "(c) Any mortgage insured or any loan made under this Act may be converted to an insured loan under this section at the discretion of the Secretary, and any expenses in connection with such conversion may be paid out of appropriations for administrative expenses.

7 USC 1005b.

(d) In connection with loans insured or converted under this section (1) the holder of the insured note shall be entitled to receive the benefits of the insurance as provided in section 13 (a) only in 7 USC 1005c. accordance with an agreement pursuant to section 12 (j) or when the assignment of the note is required by the Secretary, and (2) notice of default to the lender under section 12 (f) shall not be required."

SEC. 2. Section 12 (f) (1) is amended by striking the word 60 Stat. 1077. "promptly" in both the first and second sentences, by inserting after 7 USC 1005b. the word "default" in the second sentence the words "in the payment

of principal or interest," and by striking the word "it" in the first sentence and inserting in lieu thereof the word "him".

7 USC 1005b.

SEC. 3. Section 12 (f) (2) is amended by striking the word 62 Stat. 535. "promptly".

All 69 Stat. 554.

SEC. 4. Section 13 (a) is amended by striking the words "section 7 USC 1005c. 12" in the first sentence, inserting in lieu thereof the words "this title", and by inserting the words "in the payment of principal or interest" after the word "default" where it first appears in the first

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To amend title V of the Agricultural Act of 1949, as amended.

Be it enacted by the Senate and House of Representatives of the

United States of America in Congress assembled, That section 509 Mexican labor. of the Agricultural Act of 1949, as amended, is amended by striking out "December 31, 1955" and inserting "June 30, 1959".

SEC. 2. Subsection 3 of section 502 of such Act, as amended, is amended by inserting before the period at the end thereof the following: ": Provided, however, That if the employer can establish to the satisfaction of the Secretary of Labor that the employer has provided or paid to the worker the cost of return transportation and subsistence from the place of employment to the appropriate reception center, the Secretary under such regulations as he may prescribe may relieve the employer of his obligation to the United States under this subsection."

Extension, etc. 67 Stat. 500.

7 USC 1461 note.

65 Stat. 119. 7 USC 1462.

SEC. 3. Section 503 of such Act, as amended, is amended by adding 7 USC 1463. at the end thereof the following:

"In carrying out the provisions of (1) and (2) of this section, provision shall be made for consultation with agricultural employers and workers for the purpose of obtaining facts relevant to the supply of domestic farm workers and the wages paid such workers engaged in similar employment. Information with respect to certifications under (1) and (2) shall be posted in the appropriate local public employment offices and such other public places as the Secretary may require."

Approved August 9, 1955.

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To amend the Rubber Producing Facilities Disposal Act of 1953, as heretofore amended, so as to permit the disposal thereunder of Plancor Numbered 980 at Institute, West Virginia.

50 USC app.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That the Rubber Rubber facility. Producing Facilities Disposal Act of 1953, as heretofore amended, is 67 Stat. 408. amended by adding at the end thereof the following new section: 1941 note. "SEC. 26. (a) Notwithstanding the second sentence of section 7 (a), Plancor 980. the period for receipt of proposals for the purchase of the Govern- Institute, W.Va. ment-owned rubber-producing facility at Institute, West Virginia, 50 USC app. 1941 known as Plancor Numbered 980, shall not expire until the end of

the sixty-day period which begins on the date of the enactment of

this section.

"(b) If one or more proposals are received for the purchase of Negotiation Plancor Numbered 980 within the time period specified in subsection period. (a), the Commission, notwithstanding the expiration of the period for negotiation specified in section 7 (f), shall negotiate with those submitting the proposals for a period of not to exceed seventy-five days for the purpose of entering into a definite contract of sale.

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"(c) Within ten days after the termination of the actual nego- Report to tiation period referred to in subsection (b), or, if Congress is not then Congress. in session, within ten days after Congress next convenes, the Commission shall prepare and submit to the Congress a report containing, with respect to the disposal under this section of Plancor Numbered 980, the information described in paragraphs (1) to (5), inclusive, and paragraph (8) of section 9 (a). Unless the contract is disap- 50 USC app. proved by either House of the Congress by a resolution prior to the 1941g. expiration of thirty days of continuous session (as defined in section 9 (c)) of the Congress following the date upon which the period. report is submitted to it, upon the expiration of such thirty-day period

Transfer

the contract shall become fully effective and the Commission shall 69 Stat. 628. proceed to carry it out, and transfer of possession of the facility sold 69 Stat. 629. shall be made as soon as practicable but in any event within thirty days after the expiration of such thirty-day period. The failure to complete transfer of possession within thirty days after the expiration of the period for congressional review shall not give rise to or be the basis of rescission of the contract of sale.

"(d) If, upon termination of the transfer period provided for in Standby subsection (c), no contract for the sale of Plancor Numbered 980 condition. has become effective, the operating agency last designated by the President shall continue to maintain said Plancor in adequate standby condition under the provisions of section 8 of the Rubber Producing Facilities Disposal Act of 1953."

SEC. 2. Notwithstanding the provisions of section 3 (d) of the Rubber Producing Facilities Disposal Act of 1953, the Rubber Producing Facilities Disposal Commission (hereinafter referred to as the "Commission") before submission to the Congress of its report relative to Plancor Numbered 980, shall submit it to the Attorney General, who shall, within seven days after receiving the report, advise the Commission whether, in his opinion, the proposed disposition, if carried out, will violate the antitrust laws.

SEC. 3. Notwithstanding the provisions of sections 14 and 22 of the Rubber Producing Facilities Disposal Act of 1953, the Rubber Act of 1948, as amended, is hereby extended with respect to the rubber-producing facilities covered by this Act, to the close of the day of transfer of possession of Plancor Numbered 980 to a purchaser

50 USC app. 1941f. Transmittal of report to

Attorney General.

50 USC app. 1941a.

50 USC app. 19411, 1941t. 62 Stat. 101.

50 USC app. 1921 note.

Termination

of Commission. Ante, p. 16; 50 USC app. 1941r.

Disposal

oriteria.

50 USC app. 1941 note.

in accordance with the provisions of section 26 of the Rubber Producing Facilities Disposal Act.

SEC. 4. Notwithstanding the provisions of section 4 of Public Law 19, approved March 31, 1955, and notwithstanding the provisions of section 20 of the Rubber Producing Facilities Disposal Act of 1953, the Commission established by the latter Act shall cease to exist at the close of the thirtieth day following the termination of the transfer period provided for in section 26 (c) of that Act, unless no sale of Plancor Numbered 980 is recommended by the Commission pursuant to section 26 (c) of that Act, in which event the Commission shall cease to exist at the close of the one hundred and thirtieth day following the date of the enactment of this Act.

SEC. 5. Except as otherwise provided in this Act, disposal of Plancor Numbered 980 shall be fully subject to all the provisions of the Rubber Producing Facilities Disposal Act of 1953 and such criteria as have been established by the Commission in handling disposal of other Government-owned rubber producing facilities under that Act: ProEnd products. vided, That the provisions of sections 7 (j), 7 (k), 9 (d), 9 (f), 10, 11,

and feed

stocks.

69 Stat. 629. 69 Stat. 630.

Limitation.

50 USC app. 1941 note; ante, p. 15

15, and 24 of that Act shall not apply to the disposal of Plancor Numbered 980. As promptly as practicable following the date of transfer of possession of Plancor Numbered 980 to a purchaser under this Act, the operating agency last designated by the President shall offer for sale to such purchaser the end products at such plant and held in inventory for Government account on the day of such transfer of possession, together with the feedstocks then located at such plant or purchased by the operating agency for use at such plant. Sale of such end products shall be made at the Government sales price prevailing on the business day next preceding the date of transfer of possession of such plant. Sale of such feedstocks shall be made at not less than their cost to the Government. In the event the purchaser declines to purchase such end products or feedstocks when first offered to it by the operating agency, they may be thereafter disposed of in such manner as the operating agency deems advisable. In the event Plancor Numbered 980 is not sold under the provisions of this Act, any end products at such plant and held in inventory for Government account and any feedstocks located at such plant or purchased by the operating agency for use at such plant shall be disposed of in such manner as the operating agency deems advisable, at the prevailing market price for such end products and feedstocks.

SEC. 6. The provisions of this Act shall not be applicable to the disposal of any Government-owned rubber-producing facilities other than Plancor Numbered 980; and all action taken pursuant to the provisions of the Rubber Producing Facilities Disposal Act of 1953, or the amendment thereto known as Public Law 19, enacted March 31, 1955, prior to the enactment of this Act shall be governed by the provisions of that Act as it existed prior to the enactment of this Act and shall have the same force and effect as if this Act had not been enacted. Approved August 9, 1955.

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