An Act to amend the Fire and Casualty Act regulating the business of fire, marine, and casualty insurance in the District of Columbia
PL 89-399 (H.R.959), enacted 04/16/1966

80 STAT. ] 
PUBLIC LAW 89-399-APRIL 16, 1966 
121 
Public Law 89-398 
A N A C T 
Apj.ij ig_ jggg 
To authorize the loan of naval vessels to China. 
f
"
- ^- 78i3]^ 
Naval vessels. 
Loan to China. 
Be it enacted hy the Senate and House of Refresentathies 
of the 
United States of America in Congress assembled, That notwithstand-
ing section 7307 of title 10, United States Code, or any other law, the 
T
^
O
A "statr'Js^ 
President may lend one destroyer and one destroyer escort from the 
reserve fleet to the Republic of China on such terms and conditions as 
he deems appropriate. 
SEC. 2. All expenses involved in the activation, rehabilitation, and 
outfitting (including repairs, alterations, and logistic support) of 
vessels transferred under this Act, shall be charged to funds programed 
for the recipient government as grant military assistance, or as reim-
bursable, under the provisions of the Foreign Assistance Act of 1961, 
as amended, or successor legislation. 
^^^ ^'^* '*24, 
SEC. 3. Loans executed under this Act shall be for periods not 
22 use 2151 
exceeding five years, but the President may in his discretion extend "°te 
such loans for an additional period of not more than five years. 
All 
loans shall be made on the condition that they may be terminated at 
an earlier date if necessitated by the defense requirements of the 
United States. 
SEC. 4. No loan may be made under this Act unless the Secretary 
of Defense, after consultation with the Joint Chiefs of Staff, deter-
mines that such loan is in the best interest of the United States. 
The Secretary of Defense shall keep the Congress currently advised 
Notice to c^n-
of all extensions or loans made under authority of this Act. 
g^ess. 
SEC. 5. Tlie President may promulgate such rules and regulations 
as he deems necessary to carry out the provisions of this Act. 
SEC. 6. The authority of the President to lend naval vessels under au^ho™!"^""" °^ 
this Act terminates on December 31, 1967. 
Approved Appril 16, 1966. 
Public Law 89-399 
AN ACT 
. ., ,^ ,„^^ 
April 16, 1966 
To amend the Fire and Casualty Act regulating the business of fire, marine, 
[H. R. 959] 
and casualty insurance in the District of Columbia. 
Be it enacted hy the Senate and House of Representatives 
of the 
United States of America in Congress assembled, That (a) section 13 ^•^- fi^^^iity 
of chapter I I of the Fire and Casualty Act (D.C. Code, sec. 35-1316) ""stock'r^quire-
is amended by striking out the period at the end of the first sentence ments. 
and inserting in lieu thereof a comma and the following: "except that 
^
"
^ ^'^^^' ^ 
every domestic stock company authorized to do a fidelity or surety 
business in the District shall have and shall at all times maintain a 
paid-up capital stock of not less than $500,000, and a surplus of not 
less than $250,000.". 
(b) Section 715 of the Act entitled "An Act to establish a code of 
law for the District of Columbia", approved March 3, 1901 (D.C. 
Code, sec. 26-301), is amended by inserting after "one million dollars" 
^^ ^*^* ^^°'-
the following: "except as otherwise provided in section 13 of chapter 
I I of the Fire and Casualty Act (D.C. Code, sec. 35-1316)". 
Approved April 16, 1966.