Oversight Hearings on National Development Bank Legislation: Hearings Before the Subcommittee on General Oversight and Renegotiation of the Committee on Banking, Finance, and Urban Affairs, House of Representatives, Ninety-sixth Congress, Second Session, on H.R. 7902 ... September 10, 18, and 24, 1980

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Page 55 - If any clause, sentence, paragraph, or part of this Act shall for any reason be adjudged by any court of competent jurisdiction to be invalid, such judgment shall not affect, impair, or invalidate the remainder of this Act, but shall be confined in its operation to the clause, sentence, paragraph, or part thereof directly involved in the controversy in which such judgment shall have been rendered.
Page 54 - Whoever makes any statement knowing It to be false, or whoever willfully overvalues any security, for the purpose of obtaining for himself or for any applicant any loan, or extension thereof by renewal, deferment of action, or otherwise, or the acceptance, release, or substitution of security therefor, or for the purpose of Influencing In any way the action of the...
Page 69 - That the management of the Corporation shall be vested in a board of directors, consisting of...
Page 60 - The representatives of the General Accounting Office shall have access to nil books, accounts, financial records, reports, files, and all other papers...
Page 55 - States (USC title 18, ch. 5, sees. 202 to 207, inclusive), in so far as applicable, are extended to apply to contracts or agreements with the corporation under this act, which for the purposes...
Page 48 - America for or on account of such stock shall be issued by the corporation to the Secretary of the Treasury and shall be evidence of the stock ownership of the United States of America.
Page 49 - SEC. 4. The corporation shall have succession for a period of ten years from the date of the enactment hereof, unless it is sooner dissolved by an act of Congress. It shall have power to adopt, alter, and use a corporate seal ; to make contracts ; to lease such real estate as may be necessary for the transaction of its business ; to sue and be...
Page 53 - The corporation, including its franchise, its capital, reserves and surplus, and its income shall be exempt from all taxation now or hereafter imposed by the United States, by any Territory, dependency or possession thereof, or by any State, county, municipality or local taxing authority ; except that any real property of the corporation shall be subject to State, Territorial, county, municipal or local taxation to the same extent, according to its value, as other real property is taxed.
Page 67 - States in collecting debts from bankrupt, insolvent, or decedents' estates; to determine the character of and the necessity for its obligations and expenditures, and the manner in which they shall be incurred, allowed, and paid...
Page 66 - ... bylaws, rules, and regulations governing the manner in which its business may be conducted and the powers vested in it may be exercised...

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