Public Law 487.
2,435 words·~11 min read·
/statutes-at-large/vol-49/public-law-487·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(/us/pl/74/486).] *Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled*, That section 2 ofNational Housing Act, amendment.Vol. 48, p. 1246; [U. S. C., p. 476](/us/usc/p476). title I of the National Housing Act, as amended, is amended, effective April 1, 1936, to read as follows: " “Sec. 2.
(a)The Administrator is authorized and empowered,Insurance of financial institutions.*Post*, p. 1234. upon such terms and conditions as he may prescribe, to insure banks, trust companies, personal finance companies, mortgage companies, building and loan associations, installment lending companies, and other such financial institutions, which the Administrator finds to be qualified by experience or facilities and approves as eligible for credit insurance, against losses which they may sustain as a result of loans and advances of credit, and purchases of obligations representingTime limitation. loans and advances of credit, made by them on and after April 1, 1936, and prior to April 1, 1937, or such earlier date as the President may fix by proclamation upon his determination that 1188there no longer exists any necessity for such insurance in order to Renovation, etc., loans.make ample credit available, for the purpose of financing alterations, repairs, and additions upon improved real property, and the purchase and installation of equipment and machinery upon such real property, by the owners thereof or by lessees of such real property under a lease expiring not less than six months after the maturity Limit on amount to any institution.of the loan or advance of credit. In no case shall the insurance granted by the Administrator under this section to any such financial institution on the loans, advances of credit, and purchases made by such financial institution for such purposes on and after April 1, 1936, exceed 10 per centum of the total amount of such loans, advances Limit on liability authorized to be incurred by Administrator.of credit, and purchases. The total liability incurred by the Administrator for all insurance heretofore and hereafter granted under this section shall not exceed in the aggregate $100,000,000. “(b) Conditions prescribed. No insurance shall be granted under this section to any such financial institution with respect to any obligation representing Interest, etc.any such loan, advance of credit, or purchase by it
(1)unless the obligation bears such interest, has such maturity, and contains such other terms, conditions, and restrictions as the Administrator shall prescribe in order to make credit available for the purposes of this Amount.title, and
(2)unless the amount of such loan, advance of credit, or purchase is not in excess of $2,000, except that in the case of any such Real property improved by apartment houses, etc.loan, advance of credit, or purchase made for the purpose of such financing with respect to real property already improved by apartment or multiple-family houses, hotels, office, business, or other commercial buildings, hospitals, orphanages, colleges, schools, churches, or manufacturing or industrial plants, or improved by some other structure which is to be converted into a structure of any of the types herein enumerated, such insurance may be granted if the amount of the loan, advance of credit, or purchase is not in excess of *Proviso*.Equipment, etc., loans.$50,000: *Provided*, That after April 1, 1936, no insurance shall be granted under this section to any such financial institution with respect to any obligation representing any such loan, advance of credit or purchase by it in the amount of $2,000 or less for the purpose of financing the purchase and installation of equipment and machinery upon improved real property. “(c) Authority to dispose of acquired property, etc. Notwithstanding any other provision of law, the Administrator shall have the power, under regulations to be prescribed by him and approved by the Secretary of the Treasury, to assign or sell at public or private sale, or otherwise dispose of, any evidence of debt, contract, claim, property, or security assigned to or held by him in connection with the payment of insurance heretofore or hereafter granted under this section, and to collect or compromise all obligations assigned to or held by him and all legal or equitable rights accruing to him in connection with the payment of such insurance until such time as such obligations may be referred to the Attorney General for suit or collection. “(d) Transfer of insurance. The Administrator is authorized and empowered, under such regulations as he may prescribe, to transfer to any such approved financial institution any insurance in connection with any loans and advances of credit which may be sold to it by another approved financial institution.” " Sec. 2. Section repealed.Vol. 48, p. 1247; [U. S. C., p. 476](/us/usc/p476).Section 3 of title I of the National Housing Act, as amended, is hereby repealed. Approved, April 3, 1936. To amend the Railway Labor Act. 1936-04-10 166 Chapter 49 Stat. 1189 74 2 United States Government Publishing Office text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Digitization Vendor 2025-01-07 public 1189 [CHAPTER 166.] AN ACT To amend the Railway Labor Act. April 10, 1936.[[S. 2496](/us/bill/74/s/2496).][[Public, No. 487](/us/pl/74/487).] *Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled*, That the RailwayRailway Labor Act, amendments.Vol. 44, p. 577; Vol. 48, p. 1185; [U. S. C., p. 1964](/us/usc/p1964). Labor Act, approved May 20, 1926, as amended, herein referred to as “Title I”, is hereby further amended by inserting after the enacting clause the caption “Title I” and by adding the following title II: " “TITLE IITitle II. “Section 201. All of the provisions of title I of this Act, exceptDesignated provisions extended to carriers by air.Adjustment Board provisions excluded. the provisions of section 3 thereof, are extended to and shall cover every common carrier by air engaged in interstate or foreign commerce, and every carrier by air transporting mail for or under contract with the United States Government, and every air pilot or other person who performs any work as an employee or subordinate official of such carrier or carriers, subject to its or their continuing authority to supervise and direct the manner of rendition of his service. “Sec. 202. The duties, requirements, penalties, benefits, and privilegesApplication of Act to carriers by air and employees. prescribed and established by the provisions of title I of this Act, except section 3 thereof, shall apply to said carriers by air and their employees in the same manner and to the same extent as though such carriers and their employees were specifically included within the definition of ‘carrier’ and ‘employee’, respectively, in section 1 thereof. “Sec. 203. The parties or either party to a dispute between anNational Mediation Board.Adjustment of disputes. employee or a group of employees and a carrier or carriers by air may invoke the services of the National Mediation Board and the jurisdiction of said Mediation Board is extended to any of the following cases: “(a) A dispute concerning changes in rates of pay, rules, orPay, working conditions, etc. working conditions not adjusted by the parties in conference. “(b) Any other dispute not referable to an adjustment board, asOther disputes. hereinafter provided, and not adjusted in conference between the parties, or where conferences are refused. “The National Mediation Board may proffer its services in caseProffer of services in emergency. any labor emergency is found by it to exist at any time. “The services of the Mediation Board may be invoked in a caseInvoking of Board’s services. Vol. 48, p. 1195. under this title in the same manner and to the same extent as are the disputes covered by section 5 of title I of this Act. “Sec. 204. The disputes between an employee or group of employeesHandling employer-employee disputes. and a carrier or carriers by air growing out of grievances, or out of the interpretation or application of agreements concerning rates of pay, rules, or working conditions, including cases pending and unadjusted on the date of approval of this Act before the National Labor Relations Board, shall be handled in the usual manner up to and including the chief operating officer of the carrier designated to handle such disputes; but, failing to reach an adjustmentReference to adjustment board upon failure to agree. in this manner, the disputes may be referred by petition of the parties or by either party to an appropriate adjustment board, as hereinafter provided, with a full statement of the facts and supporting data bearing upon the disputes. “It shall be the duty of every carrier and of its employees, actingBoards of adjustment; establishment; jurisdiction. through their representatives, selected in accordance with the provisions of this title, to establish a board of adjustment of jurisdiction not exceeding the jurisdiction which may be lawfully exercised by system, group, or regional boards of adjustment, under the authorityVol. 48, p. 1189. of section 3, Title I, of this Act. 1190 Employee-carrier boards of adjustment.“Such boards of adjustment may be established by agreement between employees and carriers either on any individual carrier, or system, or group of carriers by air and any class or classes of its or their employees; or pending the establishment of a permanent National Board of Adjustment as hereinafter provided. Nothing in this Act shall prevent said carriers by air, or any class or classes of their employees, both acting through their representatives selected in accordance with provisions of this title, from mutually agreeing to the establishment of a National Board of Adjustment of temporary duration and of similarly limited jurisdiction. “Sec. 205. National Air Transport Adjustment Board. When, in the judgment of the National Mediation Board, it shall be necessary to have a permanent national board of adjustment in order to provide for the prompt and orderly settlement of disputes between said carriers by air, or any of them, and its or their employees, growing out of grievances or out of the interpretation or application of agreements between said carriers by air or any of them, and any class or classes of its or their employees, covering rates of pay, rules, or working conditions, the National Mediation Board is hereby empowered and directed, by its order duly made, published, and served, to direct the said carriers by air and such labor organizations of their employees, national in scope, as have been or may be recognized in accordance with the provisions of this Act, to select and designate four representatives who shall constitute a board which shall be known as the ‘National Air Composition.Transport Adjustment Board.’ Two members of said National Air Transport Adjustment Board shall be selected by said carriers by air and two members by the said labor organizations of the employees, within thirty days after the date of the order of the National Mediation Board, in the manner and by the procedure prescribed by title I of this Act for the selection and designation of members of the Meeting, organization, etc.National Railroad Adjustment Board. The National Air Transport Adjustment Board shall meet within forty days after the date of the order of the National Mediation Board directing the selection and designation of its members and shall organize and adopt rules for conducting its proceedings, in the manner prescribed in section 3 Filling vacancies, etc.of title I of this Act. Vacancies in membership or office shall be filled, members shall be appointed in case of failure of the carriers or of labor organizations of the employees to select and designate representatives, members of the National Air Transport Adjustment Board shall be compensated, hearings shall be held, findings and awards made, stated, served, and enforced, and the number and compensation of any necessary assistants shall be determined and the compensation of such employees shall be paid, all in the same manner and to the same extent as provided with reference to the National Powers conferred.Railroad Adjustment Board by section 3 of title I of this Act. The powers and duties prescribed and established by the provisions of section 3 of title I of this Act with reference to the National Railroad Adjustment Board and the several divisions thereof are hereby conferred upon and shall be exercised and performed in like manner and to the same extent by the said National Air Transport Adjustment Board, not exceeding, however, the jurisdiction conferred upon said National Air Transport Adjustment Board by the provisions Election by employee-carrier boards to come under jurisdiction of.of this title. From and after the organization of the National Air Transport Adjustment Board, if any system, group, or regional board of adjustment established by any carrier or carriers by air and any class or classes of its or their employees is not satisfactory to either party thereto, the said party, upon ninety days’ notice to the other party, may elect to come under the jurisdiction of the National Air Transport Adjustment Board. 1191 “Sec. 206. All cases referred to the National Labor RelationsTransfer of pending cases to Mediation Board. Board, or over which the National Labor Relations Board shall have taken jurisdiction, involving any dispute arising from any cause between any common carrier by air engaged in interstate or foreign commerce or any carrier by air transporting mail for or under contract with the United States Government, and employees of such carrier or carriers, and unsettled on the date of approval of this Act, shall be handled to conclusion by the Mediation Board. The books, records, and papers of the National Labor RelationsCustody of papers, records, etc. Board and of the National Labor Board pertinent to such case or cases, whether settled or unsettled, shall be transferred to the custody of the National Mediation Board. “Sec. 207. If any provision of this title or application thereof toSeparability provision. any person or circumstance is held invalid, the remainder of the Act and the application of such provision to other persons or circumstances shall not be affected thereby. “Sec. 208. There is hereby authorized to be appropriated suchAppropriation authorized. sums as may be necessary for expenditure by the Mediation Board in carrying out the provisions of this Act.” " Approved, April 10, 1936. Authorizing the Secretary of the Interior to patent certain land to the town of Wamsutter, Wyoming. 1936-04-10 167 Chapter 49 Stat. 1191 74 2 United States Government Publishing Office text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Digitization Vendor 2025-01-07 public [CHAPTER 167.] AN ACT Authorizing the Secretary of the Interior to patent certain land to the town of Wamsutter, Wyoming. April 10, 1936.[[S. 3761](/us/bill/74/s/3761).][
Connectionstraces to 1
Traces to 1 document
statutes-at-large
1 reference not yet in our index
- 49 Stat. 1189
Citation graph
cites case law
Cites 2Cited by 0 across 0 sources