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3840

FEDERAL REGISTER, Friday, September 8, 1939

TITLE 24HOUSING CREDIT
FEDERAL HOME LOAN BANK BOARD
A mendment to R ules and R egulations for the F ederal H ome L oan B ank S ystem RESPECTING INVESTMENTS BY FEDERAL HOME
LOAN BANKS

Be it resolved, That paragraphs b 1, c and d 1 of Section 4.1 of the Rules and Regulations for the Federal Home Loan Bank System are hereby amended, effective September 7, 1939, to read as follows:
P ar. b. Investments required by sub section p of Section 11 of the Act. 1
Ordinarily purchases and sales of obliga tions of the United States shall originate with the Regional Banks. No purchase or sale of such securities shall be made without the prior approval of the ma jority of the members of the board of directors, the executive committee, or an investment committee of not less than three, at least one of whom shall be a di rector, and no such purchase or sale of securities shall be made without the prior approval of the Board.
P ar. c. Investment of excess funds.
Ordinarily purchases and sales of obliga tions of the United States or other se curities shall originate with the Regional Banks. No purchase or sale of such se curities shall be made without the prior approval of the majority of the members of the board of directors, the executive committee, or an investment committee of not less than three, at least one of whom shall be a director, and no such purchase or sale of such securities shall be made without the prior approval of the Board.
P ar. d. Investment of reserves required by Section 16 of the Act. 1 Ordinarily purchases and sales of obligations of the United States or other securities shall originate with the Regional Banks. No purchase or sale of such securities shall be made without the prior approval of the majority of the members of the board of directors, the executive committee, or an investment committee of not less than three, at least one of whom shall be a director, and no purchase or sale of se curities shall be made without the prior approval of the Board. Sec. 11 of F.H.L.B.A., 47 Stat. 734, as amended by 503, 48 Stat. 1261; 12 U.S.C. 1431; Sec. 16
of F.H.L.B.A., 47 Stat. 736; 12 U.S.C.
1436; Sec. 17 of F.H.L.B.A., 47 Stat. 736;
12 U.S.C. 1437
Adopted by the Federal Home Loan Bank Board on September 6, 1939.
seal
H. Caulsen ,
Assistant Secretary.
P. R. Doc. 39-3257; Piled, September 6, 1939;, 3:09 p. m.

HOME OWNERS LOAN
CORPORATION

pursuant to authority vested in them by the Federal Home Loan Bank Board acting pursuant to Secs. 4 a, 4 k of Administrative Order No. 339
Home Owners Loan Act of 1933, 48 Stat.
P art 403P roperty M anagement 129, 132, as amended by Section 13 of the Act of April 27, 1934, 48 Stat. 647;
maintenance repairs defined 12 U.S.C. 1463 a, k Amending P art 403 of Chapter IV, Promulgated by the General Manager Title 24 of the Code of Federal Regula and General Counsel of Home Owners tions.
Loan Corporation.
The last paragraph of Section 403.11-17
seal H. Caulsen , is amended to read as follows:
Assistant Secretary.
Maintenance repairs are defined as F. R. Doc. 39-3254; Filed, September 6, 1939;
that reconditioning of a minor and or 3:09 p. m.
dinary nature arising from wear and tear and customarily furnished by Man agement Brokers and rental agents in Administrative Order No. 520
their day to day management of prop P art 405 R econditioning erties, and include repairs due to in surance losses involving expenditures assignment of reconditioning cases within the dollar limitations on the au Amending P art 405 of Chapter IV, thority of Contract Brokers as provided Title 24 of the Code of Federal Regula in Section 403.14.
tions.
Effective August 15, 1939
The first paragraph of Section 405.01Above procedure promulgated by Gen 37 is amended to read as follows Ef eral Manager and General Counsel pur fective September 1, 1939:
suant to authority vested in them by 405.01-37 Contract Management the Federal Home Loan Bank Board act Brokers, who, in the opinion of the ing pursuant to Secs. 4 a, 4 k of Property Management Division and the Home Owners Loan Act of 1933, 48 Stat. Reconditioning Section, are qualified 129, 132, as amended by Section 13 of and have the necessary facilities may the Act of April 27, 1934 48 Stat. 647; serve the Corporation as fee inspectors.
12 U.S.C. 1463 a , k Contract Brokers may serve as con Promulgated by General Manager and tractors when so qualified or may serve General Counsel of Home Owners Loan to supervise the work of other con Corporation.
tractors.
seal H. C aulsen, Above procedure promulgated by Assistant Secretary.
General Manager and General Counsel F. R. Doc. 39-3255; Piled, September 6, 1939; pursuant to authority vested in them by 3:09 p. m.
the Federal Home Loan Bank Board acting pursuant to Secs. 4 a, 4 k of ----------- ---------t Home Owners Loan Act of 1933, 48
Administrative Order No. 345
Stat. 129, 132, as amended by Section 13 of the Act of April 27, 1934, 48 Stat.
P art 403 P roperty M anagement 647; 12 U.S.C. 1463 a, k AUTHORITY TO CANCEL RENTAL AGREEMENTS
Promulgated by the General Manager Amending Part 403 of Chapter IV, and General Counsel of Home Owners Title 24 of the Code of Federal Regula Loan Corporation.
tions.
H. Caulsen, Section 403.11-30 is amended by add Assistant Secretary.
ing a new paragraph at the end thereof Piled, September 6, 1939;
reading as follows Effective September P. R. Doc. 39-3256;
3:09 p. m.
1, 1939:
The Regional Manager is authorized to direct the cancellation of rental agree TITLE 26INTERNAL REVENUE
ments on such terms and conditions and for such consideration moving either to BUREAU OF INTERNAL REVENUE
the Corporation or to the tenant as in T. D. 31
his opinion may be in the best interests of the Corporation, and thereupon any P art 466S eizure, F orfeiture, and D is
instruments necessary to effect such position of V essels , V ehicles and Air
cancellation may be executed and de craft U nder the A ct of A ugust 9, livered on behalf of the Corporation by 1939
any officer or employee of the Cprporafion who is authorized to execute on its ORDER OF THE SECRETARY OF THE TREASURY
RELATING TO THE BUREAU OF INTERNAL
behalf the rental agreement which is to REVENUE AND THE BUREAU OF NARCOTICS
be cancelled.
Above procedure promulgated by 466.1 Officers who will make seiz General Manager and General Counsel ures. For the purpose of carrying out