To amend section 77, subsection (c) (3), of the Bankruptcy Act, as amended. Be it enacted by the Senate and House of Representatives of the All 65 Stat. 606. • United States of America in Congress assembled, That, section 77, Bankruptay Act, subsection (c) (3), of the Bankruptcy Act, as amended, be, and it is amendment. hereby, amended to read.as follows: 47 Stat. 1474. 11 U.S.C. § 205. (3) The judge may, upon not less than fifteen days' notice published in such manner and in such newspapers as the judge may in his discretion determine, which notice so determined shall be sufficient, for cause shown, and with the approval of the Commission, in accordance with section 20a of the Interstate Commerce Act, as now or hereafter 41 Stat. 494. amended, authorize the trustee or trustees to issue certificates for cash, 49 U.S.C. § 208. property, or other consideration approved by the judge, for such lawful purposes and upon such terms and conditions and with such security and such priority in payments over existing obligations, secured or unsecured, or receivership charges, as might in an equity receivership be lawful. Where such certificates are authorized to provide funds to pay for the acquisition, assembly or installation of safety equipment or materials related thereto, or for the purpose of reimbursing the trustee or trustees for funds so expended, the judge may direct (without limitation of his power to make such direction in the absence of this provision) that the certificates shall have such lien on the property of the debtor and shall be entitled to such priority in payments over existing obligations, secured or unsecured, and receivership charges and present or future duties, debts or taxes or other obligations in favor of or payable to any State or any subdivision, agency or instrumentality thereof and interest or penalties, and to such parity with all or any portion of the other costs or expenses of administration or operation as in the particular case the judge may find equitable at the time of authorizing the issuance of such certificates, regardless of whether such obligations, charges, costs or expenses, duties, debts, or taxes constitute or are secured by liens on real or personal property or shall have become payable before or after the issuance of such certificates." SEC. 2. This Act shall take effect immediately upon the date of its Effective date. approval and shall apply to any authorization given by the judge, regardless of whether such authorization shall have been given before or shall be given after such date. Neither the enactment of this Act nor anything herein contained shall be construed as implying that, prior to the date of approval of this Act, the judge was not vested with the power which is expressly granted to him by this Act. Approved October 24, 1951. To provide that horticultural commodities shall be included within the term "agricultural commodities" for the purpose of the agricultural exemption for motor carriers in the Interstate Commerce Act. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That clauses (4a) and (6) of subsection (b) of section 203 of the Interstate Commerce 49 Stat. 545. Act are amended by inserting after “agricultural" in each such clause 49 Stat. the following: “(including horticultural)". Approved July 9, 1952. § 303(b). All 66 Stat. 542. To amend the Interstate Commerce Act to increase the amounts of securities issued by motor carriers without requiring approval by the Interstate Commerce Commission. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That section 214 of the Interstate Commerce Act, as amended, is amended by (1) striking 49 Stat. 557. out the figure "$500,000" in the first proviso and inserting the figure 49 U.S.C. "$1,000,000" in lieu thereof, and (2) striking out the figure "$100,000" $ 314. in the first proviso and inserting the figure "$200,000" in lieu thereof. Approved July 10, 1952. Chapter 878 - 2d Session AN ACT All 66 Stat. 710. To amend the Act of June 28, 1944 (ch. 294, title III, 58 Stat. 414), and the Act of February 14, 1903 (ch. 552, 32 Stat. 825). and Superintendent. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That the Act of Department of June 28, 1944 (ch. 294, title III, 58 Stat. 414), is amended by striking Commerce. out the following words: "including the Chief Clerk and Superin- Chief Clerk tendent, who shall be chief executive officer of the Department and who may be designated by the Secretary of Commerce (hereafter in 5 U.S.C. this title referred to as the Secretary) to sign minor routine official 8593 and papers and documents during the temporary absence of the Secretary, note. the Under Secretary, and the Assistant Secretary of the Department". SEC. 2. The language preceding the semicolon in the third sentence of section 2 of the Act of February 14, 1903 (ch. 552, 32 Stat. 825, 826), is amended to read: "There shall also be such clerical assistants as may from time to time be authorized by the Congress." Approved July 16, 1952. To amend part I of the Interstate Commerce Act to provide for filing of equipment trust agreements and other documents evidencing or relating to the lease, mortgage, conditional sale, or bailment of railroad equipment. Interstate 49 U.S.C. Railroad ●quipment. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That part I of the Interstate Commerce Act, as amended (U. S. C., title 49), is hereby amended by inserting, after section 20b, the following new section: "SEC. 20c. Any mortgage, lease, equipment trust agreement, conditional sale agreement, or other instrument evidencing the mortgage, lease, conditional sale, or bailment of railroad cars, locomotives, or other rolling stock, used or intended for use in connection with interstate commerce, or any assignment of rights or interest under any such instrument, or any supplement or amendment to any such instrument or assignment (including any release, discharge or satisfaction thereof, in whole or in part), may be filed with the Commission, provided such instrument, assignment, supplement or amendment is in writing, executed by the parties thereto, and acknowledged or verified in accordance with such requirements as the Commission shall prescribe; and any such instrument or other document, when so filed with the Commission, shall constitute notice to and shall be valid and enforceable against all persons including, without limitation, any purchaser from, or mortgagee, creditor, receiver, or trustee in bankruptcy of, the mortgagor, buyer, lessee or bailee of the equipment covered thereby, from and after the time such instrument or other document is so filed with the Commission; and such instrument or other document need not be otherwise filed, deposited, registered or recorded under the provisions of any other law of the United States of America, or of any State (or political subdivision thereof), territory, district or possession thereof, respecting the filing, deposit, registration or recordation of such instruments or documents. The Commission shall establish and maintain a system for the recordation of each such instrument or document, filed pursuant to the provisions of this section, and shall cause to be marked or stamped thereon, a consecutive number, as well as the date and hour of such recordation, and shall maintain, open to public inspection, an index of all such instruments or documents, including any assignment, amendment, release, discharge or satisfac- 66 Stat. 724. tion thereof, and shall record, in such index the names and addresses 66 Stat. 725. of the principal debtors, trustees, guarantors and other parties thereto, as well as such other facts as may be necessary to facilitate the deter mination of the rights of the parties to such transactions." Approved July 16, 1952. 82d Congress To extend the provisions of the Act of May 20, 1926, as amended, so as to further regulate the interstate shipment of fish. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That the first section of the Act entitled "An Act to regulate the interstate transportation of black bass, and for other purposes", approved May 20, 1926, as amended, is hereby amended to read as follows: "That when used in this Act, the word 'person' includes company, partnership, corporation, association, and common carrier." SEC. 2. Such Act, as amended, is further amended by striking out the words "game fish" wherever they appear therein and by inserting in lieu of such words, the word "fish". Approved July 16, 1952. |