Volume 63
Public Law 81–351
To provide an increase in the authorization for the Federal National Mortgage Association.
Approved July 19, 1949
Statutory text
JOINT RESOLUTION
To provide an increase in the authorization for the Federal National Mortgage Association.
Resolved by the Senate and House of Representatives of the United States of America in Congress assembled,
That section 302 of the National Housing Act, as amended, is amended to read as follows:
“Sec. 302.
The total amount of investments, loans, purchases, and commitments made by the Association shall not exceed $1,500,000,000 outstanding at any one time. The Association is authorized to issue and have outstanding at any one time notes and other obligations in an aggregate amount sufficient to enable it to carry out its functions under this Act or any other provision of law.”
Sec. 2.
Section 4 (c) of the Reconstruction Finance Corporation Act, as amended, is hereby amended by striking out “$2,000,000,000” and inserting in lieu thereof “$2,500,000,000”.
Approved July 19, 1949.