National Bank Residential Mortgage and Construction Loans: Hearing Before the Committee on Banking and Currency, House of Representatives, Eighty-fourth Congress, First Session, on H.R. 6228, Superseded by S. 1189. July 15, 1955

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Considers legislation to revise national bank mortgage, investment and liquidation regulations and authorize U.S. membership in International Finance Corp. Focuses on national banks.
 

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Сторінка 2 - ... transaction the proceeds from the sale of any securities issued under the Second Liberty Bond Act, as amended, and the purposes for which securities may be issued under that Act, as amended, are extended to include any purchases of such notes and obligations.
Сторінка 8 - ... shall not be considered as loans secured by real estate within the meaning of this section but shall be classed as ordinary commercial loans whether or not secured by a mortgage or similar lien on the real estate upon which the building or buildings are being constructed...
Сторінка 2 - Unless Congress by law authorizes such action, neither the President nor any person or agency shall on behalf of the United States (a) request or consent to any change in the quota of the United States under article III, section 2, of the Articles of Agreement of the Fund...
Сторінка 2 - Corporation shall be deemed to be an inhabitant of the Federal judicial district in which its principal office in the United States is located, and any such action at law or in equity to which the Corporation shall be a party shall be deemed to arise under the laws of the United States, and the district courts of the United States shall have original jurisdiction of any such action.
Сторінка 3 - Act, as amended, if accompanied by a valid and binding agreement to advance the full amount of the loan upon the completion of the building entered into by an individual, partnership, association, or corporation acceptable to the discounting bank.
Сторінка 1 - That no association shall hold obligations issued by said bank as a result of underwriting, dealing, or purchasing 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".
Сторінка 3 - The amount of any such loan hereafter made shall not exceed 50 per centum of the appraised value of the real estate offered as security...

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