REORGANIZATION PLAN NO. 1 OF 1957 Prepared by the President and transmitted to the Senate and the House of Transmitted Apr. Representatives in Congress assembled, April 29, 1957, pursuant to the Elective June 30 provisions of the Reorganization Act of 1949, approved June 20, 1949, as i8S7. ' amended. ^M^- ^ • 5 USC 133z note.
ABOLITION OF THE RECONSTRUCTION FINANCE CORPORATION
Section 1. Definitions. As used in this reorganization plan: (a) The term "Corporation" means the Reconstruction Finance Corporation. (b) The term "remaining functions" means (1) all functions of the Corporation, (2) except as otherwise provided in subsections (b) and (c) of section 6 of this reorganization plan, all functions of the Secretary of the Treasury under section 10 of the Reconstruction Finance Corporation Act, as amended (15 U.S.C. 609), and (3) 68 Stat. 320. all functions of the Secretary of the Treasury under sections 102 and 106 (b) of the Reconstruction Finance Corporation Liquidation Act 16 USC 603 note. (67 Stat. 230, 231), as amended. (c) The term "transferees" medns the Housing and Home Finance Administrator, the Administrator of General Services, the Administrator of the Small Business Administration, and the Secretary of the Treasury. Sec. 2. Transfer of functions, (a) There are hereby transferred to the Housing and Home Finance Administrator the remaining functions with respect to or arising out of (1) the securities and obligations of, loans made to, and contr^,cts or other agreements with. States, municipalities, political subdivisions thereof, public agencies, boards, commissions or other public bodies, and (2) loans, securities and obligations acquired in connection with programs of financial assistance for drainage and irrigation projects. (b) There are hereby transferred to the Administrator of General Services the remaining functions with respect to or arising out of (1) the affairs of the Smaller War Plants Corporation which were transferred to the Corporation pursuant to Executive Order No. CFR 1943-1948 9665 of December 27, 1945 (11 F. R. 3) and section 207 of Public comp^^p^8o" Law 132—80th Congress (61 Stat. 209), (2) the national defense, war and reconversion activities with respect to which notes of the Corporation were cancelled pursuant to the provisions of Title II of Public Law 860—80th Congress (62 Stat. 1187), and (3) activities of the R F C Price Adjustment Board and the functions transferred to the Corporation by Executive Order No. 9841 of April 23, 1947 3 CFR 1943-1948 (12 F. R. 2645). Comp., p. 634. (c) Except as otherwise provided in sections 2(d)(1) and 2 (d)(2) of this reorganization plan (relating to financial assistance to railroads, etc., and to Schedule A hereto annexed), there are hereby transferred to the Administrator of the Small Business Administration the remaining functions with respect to or arising out of programs of financial assistance to business enterprises and to victims of floods or other disasters. 647
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