Pub. L. 82-139, tit. VI, sec. 608

Sec. 608. (a) Notwithstanding any other provision of law or Reorganization Plan 22 of 1950, one of the five or more persons constituting the Board of Directors of the Federal National Mortgage Association shall be appointed by the Administrator of Veterans’ Affairs from among the officers or employees of the Veterans’ Administration. (b) Subparagraph (G) of section 301 (a) (1) of the National Housing Act, as amended, is hereby amended by adding before the period at the end of said subparagraph the following proviso: “: Provided, That this subparagraph shall not apply to commitments made by the Association on or after the effective date of this proviso and prior to December 31, 1951, which do not exceed $200,000,000 outstanding at any one time, if such commitments relate to mortgages (1) covering defense housing programmed by the Housing and Home Finance Administrator in an area determined by the President or his designee to be a critical defense housing area, or (2) with respect to which the Federal Housing Commissioner has issued a commitment to insure pursuant to title VIII of this Act, as amended, or (3) covering housing intended to be made available primarily for families who are victims of a catastrophe which the President has determined to be a major disaster.”