An Act to amend title IV of the National Housing Act, as amended
PL 82-558 (H.R.3177), enacted 07/16/1952

66 S T A T . ] 
PUBLIC LAW 559-JULY 16, 1952 
727 
to each such chief. 
The power to negotiate, execute, and administer 
contracts for research or development, or both, may be further 
delegated, subject to the provisions of any other applicable law. 
Approved July 16, 1952. 
Public Law 558 
CHAPTER 883 
AN ACT 
To amend title IV of the National Housing Act, as amended. 
July 16, 1952 
[H. R. 3177] 
Be it enacted hy the Senate and House of Representatives 
of the 
United States of America in Congress assembled, That section 401 (b) 
of the National Housing Act, as amended, is hereby amended to 
read as follows: 
"(b) The term 'insured member' means an individual, partnership, 
association, or corporation which holds an insured account. 
Each 
officer, employee, or agent of the United States, of any State of the 
United States, of the District of Columbia, of any Territory of the 
United States, of Puerto Rico, of the Virgin Islands, of any county, 
of any municipality, or of any political subdivision thereof, herein 
called 'public unit', having official custody of public funds and law-
fully investing the same in an insured institution shall, for the 
purpose of determining the amount of the insured account, be deemed 
an insured member in such custodial capacity separate and distinct 
from any other officer, employee, or agent of the same or any public 
unit having official custody of public funds and lawfully investing 
the same in the same insured institution in custodial capacity. Funds 
held in fiduciary capacity, when invested in an insured institution, 
shall be insured in an amount not to exceed $10,000 for each trust 
estate, and notwithstanding any other provisions of this Act, such 
insurance shall be separate from and additional to that covering 
other investments by the owners of such trust funds or the beneficiaries 
of such trust estates." 
Approved July 16, 1952. 
Insured member. 
48 Stat. 1255. 
12 u s e 1724. 
Public Law 559 
CHAPTER 884 
AN ACT 
To amend the Act entitled "An Act to authorize the conveyance of a portion of 
the United States military reservation at Fort Schuyler, New York, to the 
State of New York for use as a maritime school, and for other purposes", 
approved September 5, 1950. 
July 16, 1952 
[H. R. 4021] 
Be it enacted hy the Senate and House of Representatives 
of the 
United States of America in Congress assembled, That the first section 
of the Act entitled "An Act to authorize the conveyance of a portion 
of the United States military reservation at Fort Schuyler, New York, 
to the State of New York for use as a maritime school, and for other 
purposes", approved September 5, 1950 (Public Law 755, Eighty-first 
Congress), is hereby amended to read as follows: "That the Secretary 
of the Army is authorized to convey to the people of the State of New 
York all that portion of the United States Military Keservation at 
Fort Schuyler, in the borough and county of Bronx in the city of 
New York, State of New York, together with all improvements 
thereon, bounded and described as follows, to wit: Commencing at 
a point (latitude forty degrees forty-eight minutes twenty-three sec-
onds north; longitude seventy-three degrees forty-seven minutes fifty-
U. S. M i l i t a r y 
Reservation, Fort 
Schuyler, N. Y. 
Conveyance. 
64 Stat. 591. 
728 
PUBLIC LAW 559-JULY 16, 1952 
[66 STAT. 
two seconds west) fixed on the south sea wall which is approximately 
twenty-five and five-tenths feet westerly from an angle in said sea 
wall and running thence in a northeasterly direction five hundred 
ninety-two and five-tenths feet, more or less, to a point on the north 
sea wall which is approximately one hundred ninety-six and five-
tenths feet westerly from an angle in the north sea wall (said line 
running along the easterly edge of a concrete curb for an eighteen-foot 
concrete road running in a northeasterly and southwesterly direc-
tion) ; thence continuing in the same course to the point where said 
line intersects the northerly exterior line of a grant of lands under 
water made by the State of New York to the United States of America 
by Letters Patent dated May 26,1880, and recorded in the office of the 
secretary of state of the State of New York in Book 44 of Patents at 
page 604; thence running easterly, southerly, and westerly along the 
exterior northerly, easterly, and southerly line of said grant to a point 
in the exterior southerly line thereof which is in range with the course 
first above described; thence running in a northeasterly direction to 
the point and place of beginning, intending to include within said 
bounds a portion of the uplands which were conveyed by William 
Bayard, Junior, and Charles Henry Hammond to the United States 
of America by deed dated July 26, 1826, and recorded in the office of 
the clerk of the county of Westchester, New York, on November 30, 
1826, in Liber 28 of Deeds at page 225, and by Charles H. Hammond 
and Thomas Bolton, one of the masters in chancery of the State of 
New York, to the United States of America by deed dated August 
25,1828, and recorded in the office of the clerk of the county of West-
chester, New York, on December 11,1828, in Liber 33 of Deeds at page 
296, together with a portion of contiguous lands under water which 
were granted by the State of New York to the United States of Amer-
ica by Letters Patent dated May 26, 1880, and recorded in the office 
of the secretary of state of the State of New York in Book 44 of 
Patents at page 604; together with such easements for highway or 
other purposes, over that portion of such reservation which is not 
herein authorized to be conveyed to the people of the State of New 
York, as may be necessary for the proper use and enjoyment of the 
portion so conveyed as may be determined by agreement between the 
Secretary of the Navy and the appropriate officials of the State of 
New York.'* 
SEC. 2. Section 3 of the Act is amended to read as follows: 
"Such conveyance shall contain the further provision that during 
any emergency declared by the President or the Congress of the 
United States in existence at the time of enactment of this Act, or 
whenever the President or the Congress of the United States declares 
a state of war or other national emergency, and upon the determina-
tion by the Secretary of the Army, the Secretary of the Navy, or the 
' ,/• 
Secretary of the Air Force that the property so conveyed is useful for 
military, air, or naval purposes or in the interest of national defense, 
the United States shall have the right, without charge, except as 
indicated below, to the full, unrestricted possession, control, and use 
of the property conveyed, or any part thereof, including any additions 
or improvements thereto made by the State subsequent to this convey-
ance : Provided, however, That the United States shall be responsible 
during the period of such use for the entire cost of maintaining all of 
the property so used, and shall pay a fair rental for the use of any 
structures or other improvements which have been added thereto with-
out Federal aid." 
Approved July 16, 1952.