An Act to amend the Federal Credit Union Act, as amended
PL 83-656 (H.R.9236), enacted 08/24/1954

792 
PUBLIC LAW 655-AUG. 24, 1954 
[ 6 8 S TAT. 
become a part of the Catoctin recreational demonstration area upon 
the vesting of title in the United States, and shall be subject to the 
laws applicable thereto. 
Approved August 24, 1954. 
August 24, 1954 
[H. R. 8385] 
Public Law 655 
C H A P T E R 904 
AN ACT 
To amend section 2382 of the Revised Statutes, in order to make the size of 
townlots conform in size to local standards. 
TownlotSa 
Area limitations. 
Repeal. 
Be it enacted hy the Senate a/nd House of Representatives 
of the 
United States of America in Congress assembled^ That section 2382 
of the Revised Statutes, as amended (43 U. S. C, sec. 713), is further 
amended by striking out the words "each not exceed four thousand 
two hundred square feet," and insert in lieu thereof the words, "con-
form in size to local ordinances or accepted local standards for sub-
division platting or, in the absence of such ordinances or standards, 
to standards prescribed by the Secretary of the Interior,". 
SEC. 2. Section 2385 of the Revised Statutes (43 U. S. C, sec. 716) 
is hereby repealed. 
Approved August 24, 1954. 
August 24, 1954 
[H. R. 9236] 
Public Law 656 
AN ACT 
To amend the Federal Credit Union Act, as amended 
CHAPTER 905 
Federal C r e d i t 
Union Act. 
Surety bonds. 
48 Stat. 1219. 
61 Stat. 646. 
Be it enacted hy the Senate and House of Representatives 
of the 
United States 
of America 
in Congress assembled. That the last 
sentence of subsection (b) of section 11 of the Federal Credit Union 
Act, as amended (U. S. C, 1952 edition, title 12, sec. 1761 (b)), is 
further amended by striking out "in an amount and character to be 
determined from time to time by the board of directors" and by insert-
ing in lieu thereof "in an amount and character to be determined from 
time to time by the board of directors in compliance with regulations 
prescribed, from time to time, by the Director". 
SEC. 2. The third sentence of subsection (c) of section 11 of the 
Federal Credit Union Act, as amended (U. S. C, 1952 edition, title 
12, sec. 1761 (c)), is further amended by striking out "in an amount 
and character to be determined, from time to time, by the board" and 
by inserting in lieu thereof "in an amount and character to be deter-
mined from time to time by the board of directors in compliance with 
regulations prescribed, from time to time, by the Director,". 
SEC. 3. Section 16 of the Federal Credit Union Act, as amended 
(U. S. C, 1952 edition, title 12, sec. 1766), is further amended by add-
ing at the end thereof a new subsection as follows: 
"(g) The Director of the Bureau of Federal Credit Unions is 
authorized, empowered, and directed to require that every person 
appointed or elected by any Federal credit union to any position 
requiring the receipt, payment or custody of money or other personal 
property owned by a Federal credit union or in its custody or control 
as collateral or otherwise, to give bond in a corporate surety company 
holding a certificate of authority from the Secretary of the Treasury 
under the Act of Congress approved July 30, 1947 (6 U. S. C, sees. 
6-13), as an acceptable surety on Federal bonds. Any such bond or 
bonds shall be in a form approved by the Director with a view to pro-