An Act to amend the Export-Import Bank Act of 1945.
PL 87-311 (S.2325), enacted 09/26/1961

75 S T A T . ] 
PUBLIC LAW 87-311-SEPT. 26, 1961 
673 
the northeast quarter of section 21, sections 22 to 26, the northeast 
quarter of section 27, the northeast quarter of section 35, section 36, 
all in township 16 south, range 57 east; sections 1 to 7, the south hall 
and the northwest quarter of section 8, the west half of section 16, 
sections 17 to 21, the southwest quarter of section 22, the southwest 
quarter of section 26, sections 27 to 35, all in township 16 south, range 
58 east; sections 1 to 4, the northeast quarter of section 5, the northeast 
quarter of section 9, the north half, the southeast quarter, the north 
half of the southwest quarter and the southeast quarter of the south-
west quarter of section 10, section 11, 12, the northwest quarter of 
section 13, the north half and the southeast quarter and the northeast 
quarter of the southwest quarter of section 14, the northeast quarter 
of the northeast quarter of section 15, all in township 17 south, range 
58 east; section 6, the northwest quarter of section 7, all in township 
17 south, range 59 east, Mount Diablo meridian, Clark County, 
Nevada, a total of 81,160 acres, more or less. 
(2) Parcel 2, the south half of the southeast quarter and the south-
east quarter of the southwest quarter of section 20, the southwest 
quarter of the southwest quarter of section 21, the northwest quarter 
of the northwest quarter of section 28, the north half of the northeast 
quarter and the northeast quarter of the northwest quarter of section 
29, all in township 16 south, range 57 east; for a total of 320 acres, 
more or less. 
Approved September 26, 1961. 
Public Law 87-311 
AN ACT 
To amend the Export-Import Bank Act of 1945. 
September 26, 1961 
[S. 2325] 
Be it enacted hy the Senate and House of Representatives 
of the 
United States of America in Congress assembled^ That subsection (c) 
of section 2 of the Export-Import Bank Act of 1945 is amended to read 
as follows: 
"(c) (1) The Export-Import Bank of Washington, in furtherance 
of its objects and purposes under this Act, is authorized and empow-
ered to guarantee, insure, coinsure, and reinsure United States ex-
porters and foreign exporters doing business in the United States in 
an aggregate amount not in excess of $1,000,000,000 outstanding at any 
one time against political and credit risks of loss arising in connection 
with United States exports; and to establish and maintain fractional 
reserves in connection therewith. 
The reserves maintained by the 
Bank for the guarantees, insurance, coinsurance or reinsurance issued 
pursuant to this section shall be not less than 25 per centum of the 
related contractual liability of the Bank. 
Insofar as contracts of 
guarantee, insurance, coinsurance, and reinsurance are concerned, 
only that part of the Bank's liabilities represented by reserves pro-
vided for above shall be taken into account for the purposes of apply-
ing the limitations imposed by section 7 of this Act. 
Fees and pre-
miums shall be charged in connection with such contracts commen-
surate, in the judgment of the Bank, with the risks covered. 
"(2) The Bank may issue such guarantees, insurance, coinsurance, 
and reinsurance to or with exporters, insurance companies, financial 
institutions, or others, or groups thereof, and where appropriate may 
employ any of the same to act as its agent in the issuance and servicing 
of such guarantees, insurance, coinsurance, and reinsurance, and the 
adjustment of claims arising thereunder." 
Approved September 26, 1961. 
Export-Import 
Rank Act of 1945, 
amendment. 
67 Stat. 28. 
12 u s e 635. 
59 Stat. 529; 72 
Stat. 133. 
12 u s e 635e.