73 S T A T. ]
P U B U C LAW 8 6 - 3 5 6 - S E P T. 22, 1959
"(2) When the Director has been satisfied that all of such requirements, and all other requirements of this Act, have been complied with, the Director shall approve the organization certificate. Upon such approval, the State credit union shall become a Federal credit union as of the date it ceases to be a State credit union. The Federal credit union shall be vested with all of the assets and shall continue responsible for all of the obligations of the State credit union to the same extent as though the conversion had not taken place. "TERRITORIAL APPLICABILITY OF ACT
"SEC. 27. The provisions of this Act shall apply to the several States, the District of Columbia, the several Territories and possessions of the United States, the Panama Canal Zone, and the Commonwealth of Puerto Rico." SEC. 2. Section 2113(g) of title 18 of the United States Code is amended by inserting before the period at the end thereof ", and any "Federal credit union' as defined in section 2 of the Federal Credit Union Act". SEC. 3. The Director of the Bureau of Federal Credit Unions shall make a study of the desirability of providing for federally chartered central credit unions, and shall submit to the Secretary of Health, Education, and Welfare, for transmission to the Congress on or before April 15, 1960, a report of the results thereof and such recommendations for legislation thereon as the Director deems appropriate. Approved September 22, 1959.
62 Stat. 796.
Report to gress.
Con-
Public Law 86-355 AN ACT To authorize the Secretary of the Army to lease a portion of Twin Cities Arsenal, Minnesota, to Independent School District Numbered 16, Minnesota.
Be it enacted, by the Senate and House of Representatives of the United States of America in Congress assembled, That the Secretary of the Army is authorized and directed to lease for a two-year period to the Independent School District Numbered 16, State of Minnesota (Spring Lake Park School District) space it occupies in Building Numbered 105, and adjacent land area at the Twin Cities Arsenal, Minneapolis, Minnesota, subject, however, to conditions and restrictions set forth in sections 2, 4, and 5 of this Act. SEC. 2. The lease authorized by this Act shall be made upon condition that the lessee pay the cost of utilities or other special services furnished the lessee by the Government, and upon condition that the property shall be used for the operation and maintenance of a public school only and in the event that it shall not be used for such purpose the lease shall immediately terminate and title to all improvements made by the school district during its occupancy shall vest in the United States without compensation therefor. The lease shall further provide that the school district shall at all times keep the premises m good repair; that use of the premises shall be subject to regulations by the commanding officer of the arsenal and shall in no way interfere with operations of the United States; that no change shall be made in the building or grounds without the prior consent of the district engineer, United States Army Engineer District, St. Paul, Minnesota; that no claim shall be made against the United States by the school district for damage to any of its property on the premises; that the school district will protect the United States against any claim, for personal
September 22, 1959 [H. R. 2449]
Twin Cities Arsenal, Minn. Lease.
Conditions.
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