An Act amending the National Housing Act to clarify the authority of the Federal Savings and Loan Insurance Corporation with respect to the insurance of public deposits, and for other purposes.
PL 93-541 (S.J.Res.263), enacted 12/26/1974

88 STAT.] 
PUBLIC LAW 93-541-DEC. 26, 1974 
1739 
Public Law 93-541 
JOINT RESOLUTION 
Amending the National Housing Act to clarify the authority of the Federal Sav-
ings and Loan Insurance Corporation with respect to the insurance of public 
deposits, and for other purposes. 
Resolved hy the Senate and House of Representatives 
of the United 
States of America in Congress assembled^ That section 405 of the 
National Housing Act (12 U.S.C. 1728) is amended— 
(1) by inserting after "this subsection" in the second sentence 
of subsection (a) thereof a comma and the following: "subsection 
(d) of this section,"; 
(2) by striking out "this subchapter" in subsection (d) and 
inserting in lieu thereof "this title"; 
(3) by inserting immediately after "or of the Virgin Islands" 
in subsection (d) (1) (iv) a comma and the following: "or of any 
territory or possession of the United States"; and 
(4) by striking out "or the Virgin Islands" in subsection (d) 
(1) (iv) and inserting in lieu thereof a comma and the following: 
"the Virgin Islands, or any such territory or possession". 
SEC. 2. The first sentence of section 302(b) (1) of the National Hous-
ing Act (12 U.S.C. 1717(b)(1)) is amended by striking out "to a 
public agency" and inserting in lieu thereof "or guaranteed". 
SEC. 3. The first sentence of section 7(a) of the Federal Home Loan 
Bank Act (12 U.S.C. 1427) is amended by striking "twelve", "four", 
and "one-half" and inserting in lieu thereof "fourteen", "six", and 
"three-fourths", respectively. 
SEC. 4. Public Law 93-127 is amended by adding at the end thereof 
the following new section: 
"SEC. 6. Nothing in this Act prohibits the Secretary of the Treasury, 
w^hen he deems it necessary to assure an adequate supply of coins to 
meet the national needs, from continuing the minting for issuance 
during the calendar year 1975 of dollar, half-dollar, and quarter-dollar 
coins bearing the design, and coinage date provided for in section 3517 
of the Revised Statutes, as amended (31 U.S.C. 324).". 
SEC. 5. The first sentence of section 4 of Public Law 93-127 is 
amended by striking out "July 4, 1975, for issuance on and after such 
date" and inserting in lieu thereof "Jidy 4, 1976, for issuance on and 
after July 4,1975". 
SEC. 6. Section 8a of the Federal Home Loan Bank Act (12 U.S.C. 
1428a) is hereby amended by striking the first sentence thereof and 
inserting in lieu thereof the following: "There is hereby created a 
Federal Savings and Loan Advisory Council, which shall continue 
to exist as long as the Board biannually determines, as a matter of for-
mal record, after consultation with the Director of the Office of Man-
agement and Budget, with timely notice in the Federal Register, to be 
in the public interest in connection with the performance of duties 
imposed on the Council by law. The Council shall, in all other 
respects, be subject to the provisions of the Federal Advisory Commit-
tee Act. The Council shall consist of one member for each Federal 
Home Loan Bank district to be elected annually by the board of direc-
tors of the Federal Home Loan Bank in such district and twelve mem-
bers to be appointed annually by the Board to represent the public 
interest.". 
Approved December 26, 1974. 
December 26, 1974 
[S. J. Res.263] 
Insurance of 
public deposits. 
Coinage, con-
tinuation of mint-
ing authority. 
31 u s e 324i. 
31 u s e 324g. 
Publication in 
Federal Register. 
5 u s e app. I.