PUBLIC LAW 90-390-JULY 7, 1968
" (C) that one or more of the holders of withdiuwable accounts in such institution is unable to obtain a withdrawal of his account, in whole or in part; the Board shall have exclusive power and jurisdiction to appoint the Corporation as sole receiver for such institution. As used in this paragraph (2), the term 'State' includes the Commonwealth of Puerto Rico, the territories and possessions, and any place subject to the jurisdiction of the United States. "(3) In any case where the Corporation is appointed receiver of an insured institution pursuant to paragraph (2)— " (A) the provisions of section 5(d) of the Home Owners' Loan Act of 1933 shall be applicable in the same manner and to the same extent as if such institution were a Federal savings and loan association with respect to which the Corporation had been appointed receiver under paragraph (6) thereof, and the provisions of paragraph (14) of said subsection (d) shall be applicable in the same manner and the same extent that they would be applicable if the insured institution were an institution referred to in the first sentence of said paragraph; and " (B) the Corporation shall have authority to liquidate such institution in an orderly manner or to make such other disposition of the matter as it deems to be in the best interests of the institution, its savers, and the Corporation. I n connection with the liquidation of any such institution, the language 'the court or other public authority having jurisdiction over the matter' in subsection (d) of this section shall mean said Board." Approved July 7, 1968.
Public Law 90-390 July 7, 1968 [H.R. 16162]
Export-Import Bank loans, etc. Extension.
Ante, p. 49.
Ante, p. 49. Limitation.
AN ACT To enable the Extwrt-Import Bank of the United States to approve extension of certain loans, guarantees, and insurance in connection with exports from the United States in order to improve the balance of payments and foster the longterm commercial interests of the United States.
Be It enacted by the Senate and House of Representatives of the United /States of America In Congress assembled, SECTION 1. (a) I t is the policy of the Congress that the ExportImport Bank of the United States should facilitate through loans, guarantees, and insurance (including coinsurance and reinsurance) those export transactions which, in the judgment of the Board of Directors of the Bank, offer sufficient likelihood of repayment to justify the Bank's support in order to actively foster the foreign trade and long-t-erm commercial interest of the United States. (b) The Bank shall specially designate loans, guarantees, and insurance on the books of the Bank made under authority of this Act. I n connection with guarantees and insurance, not less than 25 per centum of the related contractual liability of the Bank shall be taken into account for the purpose of applying the limitation imposed by section 7 of the Export-Import Bank of 1945, as amended; but the full amount of the related contractual liability of such guarantees and insurance shall be taken into account for the purpose of applying the limitation in section 2(c)(1) of that Act, concerning the amount of guarantees and insurance the Bank may have outstanding at any one time thereunder. The aggregate amount of loans plus 25 per centum