amendments to other federal laws

amendments to other federal laws Sec. 504. (a) (1) The sixth sentence of paragraph “Seventh” of section 5136 of the Revised Statutes, as amended (12 U.S.C. 24), is amended by inserting after “Federal Home Loan Banks,” the following: “or obligations which are insured by the Secretary of Housing and Urban Development under title XI of the National Housing Act”. (2) The third sentence of the first paragraph of section 24 of the Federal Reserve Act, as amended (12 U.S.C. 371), is amended by inserting after “or sections 1471–1484 of title 42,” the following: “or 80 Stat. 1278which are insured by the Secretary of Housing and Urban Development pursuant to title XI of the National Housing Act,”. (b) Subsection (a) of section 304 of the Trust Indenture Act of 1939 (15 U.S.C. 77ddd) is amended by striking out the word “or” at the end of paragraph (8); by striking out the period at the end of paragraph (9) and inserting in lieu thereof a semicolon and the word “or”; and by adding after paragraph (9) a new paragraph as follows: “(10) any security issued under a mortgage or trust deed indenture as to which a contract of insurance under title XI of the National Housing Act is in effect ; and any such security shall be deemed to be exempt from the provisions of the Securities Act of 1933 to the same extent as though such security were specifically enumerated in section 3(a)(2), as amended, of the Securities Act of 1933 (15 U.S.C. 77c(a)(2)).” (c) Section 263 of chapter X of the Bankruptcy Act (11 U.S.C. 663) is amended by adding at the end thereof the following: “Nothing contained in this chapter shall be deemed to affect or apply to the creditors of any corporation under a mortgage insured pursuant to title XI of the National Housing Act.”