Pub. L. 88-560, tit. IX, sec. 901

Sec. 901. (a) The first sentence of section 5(c) of the Home Owners’ Loan Act of 1933 is amended by striking out “fifty miles” and inserting in lieu thereof “one hundred miles”. (b) The third sentence of section 403(b) of the National Housing Act is amended by striking out all that precedes the first semicolon and inserting in lieu thereof the following: “Each applicant for such insurance shall also file with its application an agreement that during the period that the insurance is in force it will not make any loans beyond one hundred miles from its principal office, except (1) loans in the area beyond such one-hundred-mile limit in which it was operating prior to June 27, 1934, and (2) loans which are made pursuant to regulations of the Corporation: Provided, That such agreement shall further provide that any loan made beyond fifty miles from the applicant’s principal office (and outside the territory in which it was operating on such date) shall also be subject to such regulations”.