US LAWS, STATUTES & CODES ON-LINE

US Supreme Court Decisions On-Line | US Laws



§ 1901 to 1910. —  Omitted.



[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
  January 24, 2002 and December 19, 2002]
[CITE: 12USC1901]

 
                       TITLE 12--BANKS AND BANKING
 
                       CHAPTER 20--CREDIT CONTROL
 
Secs. 1901 to 1910. Omitted


                          Codification

    Sections 1901 to 1910 were omitted pursuant to section 1910 which 
provided that the authority conferred by this chapter expired at the 
close of June 30, 1982.
    Section 1901, Pub. L. 91-151, title II, Sec. 202, Dec. 23, 1969, 83 
Stat. 376, related to definitions for this chapter.
    Pub. L. 91-151, title II, Sec. 201, Dec. 23, 1969, 83 Stat. 376, 
provided that title II of Pub. L. 91-151 (this chapter) could be cited 
as the ``Credit Control Act''.
    Section 1902, Pub. L. 91-151, title II, Sec. 203, Dec. 23, 1969, 83 
Stat. 376, directed Board of Governors of Federal Reserve System to 
prescribe regulations to carry out purposes of this chapter.
    Section 1903, Pub. L. 91-151, title II, Sec. 204, Dec. 23, 1969, 83 
Stat. 377, related to determination of interest charges in connection 
with credit transactions.
    Section 1904, Pub. L. 91-151, title II, Sec. 205, Dec. 23, 1969, 83 
Stat. 377, related to credit controls.
    Section 1905, Pub. L. 91-151, title II, Sec. 206, Dec. 23, 1969, 83 
Stat. 377, related to extent of controls.
    Section 1906, Pub. L. 91-151, title II, Sec. 207, Dec. 23, 1969, 83 
Stat. 378, related to reporting of extensions of credit and production 
of records.
    Section 1907, Pub. L. 91-151, title II, Sec. 208, Dec. 23, 1969, 83 
Stat. 378, related to injunctions for noncompliance.
    Section 1908, Pub. L. 91-151, title II, Sec. 209, Dec. 23, 1969, 83 
Stat. 378, related to civil penalties.
    Section 1909, Pub. L. 91-151, title II, Sec. 210, Dec. 23, 1969, 83 
Stat. 378, related to criminal penalties.
    Section 1910, Pub. L. 91-151, title II, Sec. 211, as added Pub. L. 
96-508, Sec. 9, Dec. 8, 1980, 94 Stat. 2749, provided that the authority 
conferred by this chapter expired at the close of June 30, 1982.


                   Council on Wage and Price Stability

    Pub. L. 93-387, Aug. 24, 1974, 88 Stat. 750, as amended by Pub. L. 
93-449, Sec. 4(e), Oct. 18, 1974, 88 Stat. 1367; Pub. L. 94-78, Secs. 2-
7, Aug. 9, 1975, 89 Stat. 411, 412; Pub. L. 95-121, Secs. 1-6, Oct. 6, 
1977, 91 Stat. 1091; Pub. L. 96-10, Secs. 1-5, May 10, 1979, 96 Stat. 
23; Pub. L. 96-508, Secs. 1-8, Dec. 8, 1980, 94 Stat. 2748, 2749; Pub. 
L. 97-35, title III, Sec. 383, Aug. 13, 1981, 95 Stat. 432, known as the 
``Council on Wage and Price Stability Act'', provided for the 
establishment of a Council on Wage and Price Stability and the 
appointment and compensation of members, chairman, director, and 
employees; authorized cooperation with other agencies; specified the 
powers and duties of the Council; directed the establishment and duties 
of an Office of Productivity; specified that the Act did not authorize 
the continuation or imposition of economic controls or affect the 
Emergency Petroleum Allocation Act of 1973 (15 U.S.C. 751 et seq.); 
provided for the disclosure of information; required annual reports; 
authorized appropriations; and terminated the authority granted by the 
Act on Sept. 30, 1981.


                     Economic Stabilization Program

    Title II of Pub. L. 91-379, Aug. 15, 1970, 84 Stat. 799, as amended 
by Pub. L. 91-558, title II, Sec. 201, Dec. 17, 1970, 84 Stat. 1468; 
Pub. L. 92-8, Sec. 2, Mar. 31, 1971, 85 Stat. 13; Pub. L. 92-15, Sec. 3, 
May 18, 1971, 85 Stat. 38; Pub. L. 92-210, Sec. 2, Dec. 22, 1971, 85 
Stat. 743; Pub. L. 93-28, Secs. 1-8, Apr. 30, 1973, 87 Stat. 27-29; Pub. 
L. 102-572, title I, Sec. 102(a), Oct. 29, 1992, 106 Stat. 4506, known 
as the ``Economic Stabilization Act of 1970'', authorized the President, 
within an established procedural framework, to stabilize prices, rents, 
wages, salaries, interest rates, dividends and similar transfers, and 
establish priorities for use and allocation of supplies of petroleum 
products, including crude oil, and to issue standards to serve as a 
guide for determining levels of wages, prices, etc., which would allow 
for adjustments, exceptions and variations to prevent inequities, taking 
into account changes in productivity, cost of living and other pertinent 
factors. The Act provided for limitations on the exercise of 
Presidential authority and allowed delegation of the performance of any 
of the President's functions to appropriate officers, departments and 
agencies of the United States or to entities composed of members 
appointed to represent different sectors of the economy and the general 
public. The Act provided for disclosure of information, subpena power, 
administrative procedure, criminal and civil sanctions, injunctions and 
suits for damages and other relief. The Act specified original 
jurisdiction for judicial review of cases or controversies arising under 
the Act or regulations issued thereunder in the district courts of the 
United States, and directed that appeals of final decisions or permitted 
interlocutory appeals be brought in the United States Court of Appeals 
for the Federal Circuit. The Act made specific provision for small 
business and mass transportation systems, required the President to 
issue periodic reports to Congress, authorized appropriations, and 
provided for its expiration on April 30, 1974.


Exemption From Price Restraints and Allocation Programs of First Sale of 
               Crude Oil and Natural Gas of Certain Leases

    Pub. L. 93-153, title IV, Sec. 406, Nov. 16, 1973, 87 Stat. 590, 
provided that the first sale of crude oil and natural gas liquids 
produced from any lease whose average daily production did not exceed 
ten barrels per well not be subject to price restraints or any 
allocation program established pursuant to any Federal law, prior to 
repeal by Pub. L. 94-163, title IV, Sec. 401(b)(4), Dec. 22, 1975, 89 
Stat. 946. For effective date of repeal of section 406 of Pub. L. 93-
153, see section 401(b)(5) of Pub. L. 94-163.

  Ex. Ord. No. 12288. Termination of Wage and Price Regulatory Program

    Ex. Ord. No. 12288, Jan. 29, 1981, 46 F.R. 10135, provided:
    By the authority vested in me as President and as Commander in Chief 
of the Armed Forces by the Constitution and laws of the United States of 
America, including Sections 2(c) and 3(a) of the Council on Wage and 
Price Stability Act, as amended (12 U.S.C. 1904 note), and Section 
205(a) of the Federal Property and Administrative Services Act of 1949, 
as amended (40 U.S.C. 486(a)) [now 40 U.S.C. 121(a)], and in order to 
terminate the regulatory burdens of the current wage and price program, 
it is hereby ordered as follows:
    Section 1. Executive Order No. 12092, as amended, is revoked.
    Sec. 2. The head of each Executive agency and military department, 
including the Council on Wage and Price Stability and the Office of 
Federal Procurement Policy, is authorized to take appropriate steps to 
terminate actions adopted in response to Executive Order No. 12092, as 
amended.
                                                          Ronald Reagan.



chanrobles.com.Com