An Act to amend the Comprehensive Drug Abuse Prevention and Control Act of 1970 to provide an increase in the appropriations authorization for the Commission on Marihuana and Drug Abuse
PL 92-13 (H.R.5674), enacted 05/14/1971

85 STAT. ] 
PUBLIC LAW 92-13-MAY 14, 1971 
37 
"SEC. 411. LIQUIDATION OR DISSOLUTION OF THE TELEPHONE BANK.— 
In the case of liquidation or dissolution of the telephone bank, after 
the payment or retirement, as the case may be, first, of all liabilities; 
second, of all class A stock at par; third, of all class B stock at par; 
fourth, of all class C stock at par; then any surpluses and contingency 
reserves existing on the effective date of liquidation or dissolution of 
the telephone bank shall be paid to the holders of class A and class B 
stock issued and outstanding before the effective date of such liquida-
tion or dissolution, pro rata. 
"SEC. 412. BORROWER NET WORTH.—Except as provided in sub-
section (b) (2) of section 408, notwithstanding any other provision of 
law, a loan shall not be made under section 201 of this Act to any 
borrower which during the immediately preceding year had a net 
worth in excess of 20 per centum of its assets unless the Administrator 
finds that the borrower cannot obtain such a loan from the telephone 
bank or from other reliable sources at reasonable rates of interest and 
terms and conditions." 
SEC. 3. (a) Subsection (f) of section 3 of the Rural Electrification 
Act of 1936, as amended, is amended by inserting in lieu of the first 
word of said subsection "Except as otherwise provided in sections 
301 and 406(a) of this Act, all". 
(b) Section 201 of the Rural Electrification Act of 1936, as amended, 
is amended by inserting ", to public bodies now providing telephone 
service in rural areas", immediately after the word "areas" in the first 
sentence and also immediately after the word "areas" in the first proviso 
of the second sentence. 
SEC. 4. Section 201 of the Government Corporation Control Act, 
as amended (31 U.S.C. 856), is amended, effective when the ownership, 
control, and operation of the telephone bank is converted as provided in 
section 410(a) of the Rural Electrification Act of 1936, as amended, by 
striking "and" immediately before "(5)" and by inserting ", and (6) 
the Rural Telephone Bank" immediately before the period at the end. 
SEC. 5. The second sentence of subsection (d) of section 303 of the 
Government Corporation Control Act, as amended (31 U.S.C. 868), is 
amended, effective when the ownership, control, and operation of the 
telephone bank is converted as provided in section 410(a) of the Rural 
Electrification Act of 1936, as amended, by inserting "the Rural Tele-
phone Bank," immediately following the words "shall not be appli-
cable to". 
SEC. 6. The right to repeal, alter, or amend this Act is expressly 
reserved. 
SEC. 7. This Act shall take effect upon enactment. 
Approved May 7, 1971. 
63 Stat. 948. 
7 u s e 922. 
61 Stat. 547. 
7 u s e 903. 
Ante, 
pp 
33. 
7 u s e 922 
29, 
59 Stat. 600; 
84 Stat. 1340. 
Ante, 
p. 36. 
Effective date. 
Public Law 92-13 
AN ACT 
To amend the CJomprehensive Drug Abuse Prevention and Control Act of 1970 to 
provide an increase in the appropriations authorization for the Commission on 
Marihuana and Drug Abuse. 
May 14, 1971 
[H. R. 5674] 
Be it enacted hy the Senate and House of Representatives 
of the 
United States of America in Congress assembled^ That section 601(f) 
of the Comprehensive Drug Abuse Prevention and Control Act of 1970 
be amended to read as follows: 
"(f) Total expenditures of the Commission shall not exceed 
$4,000,000.". 
Approved May 14, 1971. 
eommlsslon on 
Marihuana and Drug 
Abuse. 
Appropriation. 
84 Stat. 1281. 
21 u s e 801 note.