Page:United States Statutes at Large Volume 82.djvu/327

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[82 STAT. 285]
[82 STAT. 285]
PUBLIC LAW 90-000—MMMM. DD, 1968

82 STAT. ]

PUBLIC LAW 90-375-JULY 5, 1968

of the credit union or any member of the credit committee or of the board of directors, until the next members' meeting, which shall be held not less than seven nor more than fourteen days after any such suspension, at which meeting any such suspension shall be acted upon by the members; and may call by a majority vote a special meeting of the members to consider any violation of this Act, the charter, or the bylaws, or any practice of the credit union deemed by the supervisory committee to be unsafe or unauthorized." (7) The second sentence of section 16 is amended by inserting "a majority vote of" immediately before "the board of directors". SEC. 2. (a) Section 21(f) of the Federal Credit Union Act (12 U.S.C. 1766(f)) is amended by inserting " (1) " after " (f) ", and by adding at the end thereof the following: "(2)(A) The Director is authorized to conduct directly, or to make grants to or contracts with colleges or universities. State or local educational agencies, or other appropriate public or private nonprofit organizations to conduct, programs for the training of persons engaged, or preparing to engage, in the operation of credit unions, and in related consumer counseling programs, serving the poor. H e is authorized to establish a program of experimental, developmental, demonstration, and pilot projects, either directly or by grants to public or private nonprofit organizations, including credit unions, or by contracts with such organizations or other private organizations, designed to promote more effective operation of credit unions, and related consumer counseling programs, serving the poor. " (B) In carrying out his authority under this paragraph, the Director shall consult with officials of the Office of Economic Opportunity and other appropriate Federal agencies responsible for the administration of projects or programs concerned with problems of the poor. The development and operation of programs and projects under this paragraph shall involve maximum feasible participation of residents of the areas and members of the groups served by such programs and projects, with community action agencies established under the provisions of the Economic Opportunity Act of 1964 serving, to the extent feasible, as the means through which such participation is achieved. " (C) I n order to carry out the purposes of this paragraph, there is authorized to be appropriated, as a supplement to any funds that may be expended by the Director pursuant to sections 6 and 7 for such purposes, not to exceed $300,000 for the fiscal year ending June 30, 1970, and not to exceed $1,000,000 for the fiscal year ending June 30, 1971." (b) The amendments made by subsection (a) shall become effective Jujv 1, 1968. SEC. 3. The Federal Credit Union Act is amended by adding at the end thereof the following new section: "GIFTS

"SEC. 28. The Director is authorized to accept gifts of money made unconditionally by will or otherwise for the carrying out of any of the functions under this Act. A conditional gift of money made by will or otherwise for such purposes may be accepted and used in accordance with its conditions, but no such gift shall be accepted which is conditioned upon any expenditure not to be met therefrom or from income thereof unless the Director determines that supplementation of such gift from the fees he may expend pursuant to sections 6 and 7 or from


73 Stat. 634. 12 USC 1761d. Consumer counseling.

78 Stat. 508. 42 USC 2701 note. Appropriations. 12 USC 1755, 1756.

Effective date.