An Act to provide further for cooperation with States in administration and enforcement of certain Federal laws.
PL 87-718 (S.3475), enacted 09/28/1962

76 STAT.] 
PUBLIC LAW 87-718-SEPT. 28, 1962 
663 
SEC. 2. The first sentence of the third paragraph of section 24 of the 
Federal Reserve Act (12 U.S.C. 371) is amended to read as follows: 
"Loans made to finance the construction of industrial or commercial 
buildings and having maturities of not to exceed eighteen months 
where there is a valid and binding agreement entered into by a fi-
nancially responsible lender to advance the full amount of the bank's 
loan upon completion of the buildings and loans made to finance the 
construction of residential or farm buildings and Having maturities 
of not to exceed eighteen months, shall not be considered as loans se-
cured by real estate within the meaning of this section but shall be 
classed as ordinary commercial loans whether or not secured by a 
mortgage or similar lien on the real estate upon which the building 
or buildings are being constructed: Provided^ That no national bank-
ing association shall invest in, or be liable on, any such loans in an 
aggregate amount in excess of 100 per centum of its actually paid-in 
and unimpaii*ed capital plus 100 per centum of its unimpaired surplus 
fund." 
Approved September 28, 1962. 
73 Stat. 489. 
Public Law 87-718 
AN ACT 
To provide further for cooperation with States in administration and enforcement 
of certain Federal laws. 
September 28, 1962 
[S. 3475] 
Be it enacted by the Senate and House of Representatives 
of the 
United States of America in Congress assembled^ That, in order to 
avoid duplication of functions, facilities, and personnel, and to attain 
closer coordination and greater effectiveness and economy in adminis-
tration of Federal and State laws and regulations relating to the mar-
keting of agricultural products and to the control or eradication of 
plant and animal diseases and pests, the Secretary of Agriculture is 
hereby 
authorized, in the administration and enforcement of such 
Federal laws within his area of responsibility, whenever he deems 
it feasible and in the public interest, to enter into cooperative arrange-
ments with State departments of agriculture and other State agencies 
charged with the administration and enforcement of such State laws 
and regulations and to provide that any such State agency which has 
adequate facilities, personnel, and procedures, as determined by the 
Secretary, may assist the Secretary m the administration and enforce-
ment of such Federal laws and regulations to the extent and in the 
manner he deems appropriate in the public interest. 
Further, the Secretary is authorized to coordinate the administra-
tion of such Federal laws and regulations with such State laws and 
regulations wherever feasible. 
However, nothing herein shall affect 
the jurisdiction of the Secretary of Agriculture under any Federal 
law, or any authority to cooperate with State agencies or other agencies 
or persons under existing provisions of law, or affect any restrictions 
of law upon such cooperation. 
Approved September 28, 1962. 
Agriculture 
Dept. 
Federal law en-
forcement, coop-
eration with State 
agencies.