Joint resolution to extend the time for the making of a final report by the Commission To Study Mortgage Interest Rates
PL 91-38 (S.J.Res.123), enacted 07/01/1969

83 STAT.] 
PUBLIC LAW 91-38-JULY 1, 1969 
43 
for its corporate purposes, issue bonds therefor, and secure the same 
by mortgage, deed of trust, pledge, or otherwise." 
(b) Section 6(a) of such Act, as amended, is amended by deleting "a 
^° ^^^'* 2^^' 
Board of Trustees,". 
(c) Section 7 of such Act, as amended, is amended to read as follows: prnd™^"*"' 
"SEC. 7. (a) The invested fund now known as the 'Permanent Fund 
of the National Education Association,' shall be held in such corpora-
tion as a Permanent Fund and shall be in charge of the Executive Com-
mittee, which shall provide for the safekeeping and investment of such 
fund, and of all other funds which the corporaticMi may receive by 
donation, bequest, or devise. No part of the principal of such Perma- lim^mfim 
nent Fund or its accretions shall be expended or transferred to the 
General Fund, except by a two-thirds vote of the Representative 
Assembly, after the proposed expenditure or transfer has been 
approved by the Executive Committee and the Board of Directors, and 
after printed notice of the proposed expenditure or transfer has been 
printed in the Journal of the National Education Association at least 
two months prior to the meeting of the Representative Assembly. 
"(b) The income of the Permanent Fund shall be used only to meet 
^"'=°'"''' "'^*' 
the cost of maintaining the organization of the Association and of pub-
lishing its annual volume of Proceedings, unless the terms of the 
donation, bec[uest, or devise shall otherwise specify or the bylaws of 
the corporation shall otherwise provide. 
" (c) The Executive Committee shall elect the secretary of the Asso- ^ Executive 
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Comrnittee 
ciation, who shall be secretary oi the Executive Committee, and shall secretary, 
fix the compensation and the term of his office for a period not to exceed election. 
four years." 
SEC. 2. Upon the adoption by the Representative Assembly of the 
National Education Association of amended bylaws to provide for the 
administration of the property of the corporation and for the selec-
tion of the secretary of the Association, section 7 of the Act June 30, 
1906 (34 Stat. 804), shall be of no further force and effect. 
Approved June 30, 1969. 
Public Law 91-38 
JOINT RESOLUTION 
July l, 1969 
To extend the time for the making of a final report by the Commission To Study 
[s.j. Res. 123] 
Mortgage Interest Rates. 
Resolved hy the Senate and House of Representatives 
of the United 
States of America in Congress asseinbled^ That section 4(g) of the Act es't'°ra\^e^s^ttii'd'"" 
of May 7,1968 (Public Law 90-301) is amended by striking out "The "^Rejort, extem 
Commission may make an interim report not later than April 1,1969, ^'°'^* 
and shall make a final report of its study and recommendations not 
later than July 1, 1969," and inserting in lieu thereof the following: 
"The Commission shall make an interim report not later than Jaly 1, 
1969, and shall make a final report of its study and recommendations 
not later than August 1,1969,". 
Approved July 1, 1969. 
Termination. 
Ante, p.