PUBLIC LAW 87-128-AUG. 8, 1961
[75 S T A T.
(e) At least 25 per centum of the sums authorized in any fiscal year for direct loans to individuals to be made by the Secretary under subtitle A of this title shall be allocated equitably among the several States and territories on the basis of farm population and the prevalence of tenancy, as determined by the Secretary. Rules and reguQEC. 339. The Secretary is authorized to make such rules and regulalations.
50 Stat. 522,524, 7' u s c 1001, Te' u°s*c 590.^^ilfusc ii48a-i and note, ii48a-2.
12 USC 371,84. staf.%°79.^^^^' ^° 68 Stat. 735.
10^13" s c 1010-
7 USC 1012.
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tions, prescribe the terms and conditions tor making or insuring loans, security instruments and agreements, except as otherwise specified herein, and make such delegations of authority as he deems necessary to carry out this title. SEC. 340. The President may at any time in his discretion transfer to the Secretary any right, interest, or title held by the United States in any lands acquired in the program of national defense and no longer needed therefor, which the President shall find suitable for the purposes of this title, and the Secretary shall dispose of such lands in the manner and subject to the terms and conditions of the title. gj.^ 3^]^ ^g^^ Reference to any provisions of the Bankhead-Jones F a r m Tenant Act or the Act of August 28, 1937 (50 Stat. 869), as amended, superseded by any provision of this title shall be construed as referring to the appropriate provision of this title. Titles I, II, and IV of the Bankhead-Jones F a r m Tenant Act, as amended, and the Act of August 28, 1937 (50 Stat. 869), as amended, the Act of April 6, 1949 (63 Stat. 43), as amended, and the Act of August 31, 1954 (68 Stat. 999), as amended, are hereby repealed effective one hundred and tweuty days after enactment hereof, or such earlier date as the provisions of this title are made effective by the Secretary's regulations except that the repeal of section 2(c) of the Act of April 6, 1949, shall not be effective prior to January 1, 1962. The foregoing provisions shall not have the effect of repealing the amendments to section 24, chapter 6 of the Federal Reserve Act, as amended, section 5200 of the Revised Statutes, section 35 of chapter III of the Act approved June 19, 1934 ( D. C Code, title 35, section 535), enacted by section 15 of the Bankhead-Jones F a r m Tenant Act, as amended, and by section 10(f) of the Act of August28, 1937 (50 Stat. 869), as amended. (b) The repeal of srnj provision of law by this title shall not— (1) affect the validity of any action taken or obligation entered into pursuant to the authority of any of said Acts, or (2) prejudice the application of any person with respect to receiving assistance under the provisions of this title, solely because such person is obligated to the Secretary under authorization contained in any such repealed provision. (c) If any provision of this title or the application thereof to any person or circumstance is held invalid, the remainder of the title and the application of such provision to other persons or circumstances shall not be affected thereby. SEC. 342. Title III of the Bankhead-Jones Farm Tenant Act, as amended, is further amended by the following new section 3'5: "SEC. 35. The provisions of this title shall extend to Puerto Rico and the Virgin Islands. In the case of Alaska, Puerto Rico, and the Virgin Islands, the term 'county' as used in this title may be the entire area, or any subdivision thereof as may be determined by the Secretary, and payments under section 33 of this title shall be made to the Governor or to the fiscal agent of such subdivision."