396
PUBLIC LAW 85-537-JULY 18, 1958
Liens.
D u p l i c ation of activities.
Separability.
Appropriation.
Repeals. Real loans by Banks. 38 Stat. 12 USC
estate National 273. 371.
RFC loans.
71 Stat. 647.
[72
ST A T.
Administration which might affect the value of securities, or, having such knowledge, invests or speculates, directly or indirectlj, in the securities or property of any company or corporation receiving loans or other assistance from the Administration, shall be punished by a fine of not more than $10,000 or by imprisonment for not more than five years, or both. "SEC. 17. Any interest held by the Administration in property, as security for a loan, shall be subordinate to any lien on such property for taxes due on the property to a State, or political subdivision thereof, in any case where such lien would, under applicable State law, be superior to such interest if such interest were held by any party other than the United States. "SEC. 18. The Administration shall not duplicate the work or activity of any other department or agency of the Federal Government and nothing contained in this Act shall be construed to authorize any such duplication unless such work or activity is expressly provided for in this Act. "SEC. 19. If any provision of this Act, or the application thereof to any person or circumstances, is held invalid, the remainder of this Act, and the application of such provision to other persons or circumstances, shall not be affected thereby. "SEC. 20. There are hereby authorized to be appropriated such sums as may be necessary and appropriate for the carrying out of the provisions and purposes of this Act. "SEC. 21. All laws and parts of laws inconsistent with this Act are hereby repealed to the extent of such inconsistency." SEC. 3. The fourth paragraph of section 24 of the Federal Reserve Act is amended (1) by striking out "or the Small Business Administration" and "or of the Small Business Act of 1953,", and (2) by adding at the end thereof the following new sentence: "Loans in which the Small Business Administration cooperates through agreements to participate on an immediate or deferred basis under the Small Business Act shall not be subject to the restrictions or limitations of this section imposed upon loans secured by real estate." SEC. 4. The Secretary of the Treasury is hereby authorized to further extend the maturity of or renew any loan transferred to the Secretary of the Treasury pursuant to Reorganization Plan Numbered 1 of 1957, for additional periods not to exceed ten years, if such extension or renewal will aid in the orderly liquidation of such loan. Approved July 18, 1958. Public Law 85-537
July 18, 1958 [H. R. 7349]
AN ACT To amend the Act regulating the business of executing bonds for compensation in criminal cases in the District of Columbia.
Be it enacted by the Senate and House of Representatives of the D. C. courts. United States of America in Congress assembled, That the first senBondsmen. tence of section 8(a) of the Act entitled "An Act to regulate the business of executing bonds for compensation in criminal cases and to improve the administration of justice in the District of Columbia", gjD.c. Code 23- approved March 3, 1933, as amended (47 Stat. 1484; 67 Stat. 106), is amended by striking out the words "police court, juvenile court, and the criminal divisions of the Supreme Court of the District of Columbia" and inserting in lieu thereof the words "United States District Court for the District of Columbia, the municipal court for the District of Columbia, and the juvenile court of the District of Columbia." Approved July 18, 1958.
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