PUBLIC LAWS-CHS. 275, 276-JUNE 29, 1949
Affidavit.
Penalty.
Short title.
AN ACT
June 29,1949
A
[H. R . 4332]
To amend the National Bank Act and the Bretton Woods Agreements Act, and
[Public Law 142]
for other purposes.
National Bank Act
and Bretton Woods
Agreements Act,
amendments.
44 Stat. 1226.
Post, p . 439.
59 Stat. 512 .
22 U.. C ., Supp.
II, § 286b.
Exempted securi-
ties.
48 Stat. 76 .
48 Stat. 88 .
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled, That paragraph
Seventh of section 8 of the National Bank Act, as amended (U. S . C.,
title 12, sec. 24), is amended by adding to the end thereof the follow-
ing new sentence: "The limitations and restrictions herein contained
as to dealing in and underwriting investme nt securities shall not apply
to obligations issued by the International Bank for Reconstruction
and I)evelopment which are at the timne eligible for purchase by a
national bank for its own account: Provided,That no association shall
hold obligations issued by said bank as a result of underwriting,
dealing, or pllrchasing for its own account (and for this purpose
obligations as to which it is under commitment shall be deemed to be
held by it) in a total amount exceeding at any one time 10 per centum
of its capital stock actually paid in and unimpaired and 10 per centum
of its unimpaired surplus fund".
SEC. 2. The Bretton Woods Agreements Act, as amended (U. S. C.,
title 22, secs. 286-286k), is amended by adding at the end thereof a
new section to be numbered section 15 and to read as follows:
"SEC. 15. (a) Any securities issued bv International Bank for
Reconstruction and Development (including any guaranty by the
bank, whether or not limited in scope), and any securities guaranteed
by the bank as to both principal and interest, shall be deemed to be
exempted securities within the meaning of paragraph (a) (2) of sec-
tion 3 of the Act of May 27, 1933, as amended (U. S. C., title 15. sec
77c), and paragraph (a) (12) of section 3 of the Act of June 6. 1934,
as amended (U. S. C., title 15, sec. 78c). The bank shall file with the
of an organization of Government employees that asserts the right to
strike against the Government of the United States, or who advocates,
or is a member of an organization that advocates, the overthrow of
the Government of the United States by force or violence: Provided,
That for the purposes hereof an affidavit shall be considered prima
facie evidence that the person making the affidavit has not contrary
to the provisions of this section engaged in a strike against the Govern-
ment of the United States, is not a member of an organization of
Government employees that asserts the right to strike against the
Government of the United States, or that such person does not advo-
cate, and is not a member of an organization that advocates, the
overthrow of the Government of the United States by force or violence:
Provided further, That any person who engages in a strike against
the Government of the United States or who is a member of an organi-
zation of Government employees that asserts the right to strike against
the Government of the United States, or who advocates, or who is a
member of an organization that advocates, the overthrow of the Gov-
ernment of the United States by force or violence and accepts employ-
ment the salary or wages for which are paid from any appropriation
contained in this Act shall be guilty of a felony and, upon conviction,
shall be fined not more than $1,000 or imprisoned for not more than
one year, or both: Provided further, That the above penalty clause
shall be in addition to, and not in substitution for, any other provisions
of existing law.
SEC. 502. This Act may be cited as the "Labor-Federal Security
Appropriation Act, 1950".
Approved June 29, 1949.
[CHAPTER 276]
298
[63 STAT.
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