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FEDERAL
VOLUME 24

934

O H ijtO

NUMBER 205

Washington, Tuesday, October 20, 1959

Title 12 BANKS AND BANKING
Chapter V-Federal Home Loan Bank Board SUBCHAPTER C FEDERAL SAVINGS AND
LOAN SYSTEM

No. 12,850

PART 544 CHARTER AND BYLAWS
Prior Approval of Amendment to Bylaws O ctober 14, 1959.

Resolved th at the Federal Home Loan Bank Board, upon the basis of consid eration by it of the advisability of amendment of P art 544 of the rules and regulations for the Federal Savings and Loan System 12 CFR P art 544, as here inafter set forth, and for the purpose of effecting such amendment, hereby amends said part by adding a hew sec tion, 544.6a, effective October 20, 1959, to read as follows:
544.6a Preparedness e m e r g e n c y amendments to bylaws.

This section constitutes approval by the Board of any one or more of the fol lowing amendments to the bylaws of any Federal association, upon the valid adoption of any such amendment by such associations directors or members as provided in its bylaws, effective when sp adopted:
a Emergency operations by survivwi9 staff, in the event of an emergency declared by the President of the United states or the person performing his junctions, the officers and employees of tnis association will continue to conduct he affairs the association under such guidance from the directors as may be affable except as to m atters which by ha reQuire specific approval of the ard of directors and subject to cdntinxa,nce with any governmental direcwes during the emergency.
b Emergency operations by directors members of executive committee.
ue board of directors shall have the nffier> 111
absence or disability of any to a r upon t16 refusal of any officer act, to delegate and prescribe such
officers powers and duties to any other officer, or to any director, for the time being. In the event of a state of disaster of sufficient severity to prevent the con duct and management of the affairs and business of this association by its direc tors and officers as contemplated by these bylaws, any two or more available members of the then incumbent execu tive committee shall constitute a quorum pf th at committee for the full conduct and management of the affairs and busi ness of the association in accordance with the provisions of A rtic le ___ of these bylaws. In the event of the un availability, at such time, of a minimum of two members of the then incumbent executive committee, any three available directors shall constitute the executive committee for the full conduct and man agement of the affairs and business of the association in accordance with the foregoing provisions of this section.
This bylaw shall be subject to imple mentation by resolutions of the board of directors passed from time to time for th at purpose, and any provisions of these bylaws other than this section and any resolutions which are contrary to the provisions of this section or to the pro visions of any such implementary resolu tions shall be suspended until it shall be determined by any interim executive committee acting under this section that it shall be to thé advantage of this asso ciation to resume the conduct and man agement of its affairs and business under all of the other provisions of these by laws.
c Officer succession. If consequent upon war or warlike damage or disaster, the president of this association cannot be located by the then acting home office or is unable to assume or to continue normal executive duties, then the au thority and duties of the president shall, without further action of the board of directors, be automatically assumed by one of the following persons in the order designated: List of names in order of succession is shown in the official min utes of the association and in tbp cer tified copies which are under seal in various depositories.
Continued on next page
CONTENTS
Agricultural Marketing Service
Page
Proposed rul making :
Oranges, Valencia, grown in Ari zona and designated part of California; definitions____ _

8466

Agriculture Department
See Agricultural Marketing Serv ice.
Atomic Energy Commission
Notices:
Licenses and permits:
Iowa State University______ 8468
University of California a t Los Angeles____________ _ 8468
University of Washington___ 8469
Vanderbilt University_______

8469

Westinghouse Electric Corp_ 8469
Civil Aeronautics Board
Notices:
Accident near Buffalo, Tex.;
hearing__________________

8469

Commerce Department
See also Federal Maritime Board.
Notices:
Hasek, Carl W., Jr.; report of appointment and statement of financial interests_______ 8472
Federal Home Loan Bank Board
Rules and regulations:
Charter and bylaws; prior ap proval of amendment to by laws________ _____ _______

8461

Federal Housing Administration Rules and regulations:

Class 1 and Class 2 property improvement loans; refinanc ing; claims-______________ 8463
Federal Maritime Board
Rules and regulations:
Documentation, transfer or charter of vessels; amend ment of certain declaration form s___ ________________ 8465
Federal Power Commission Notices:

Sinclair Oil & Gas Co. et al.;
hearing___________ ______
8461

8469