In subsec. (b), “chapter 31 of title 31” substituted for “the Second Liberty Bond Act” on authority of Pub. L. 97–258, § 4(b), Sept. 13, 1982, 96 Stat. 1067, the first section of which enacted Title 31, Money and Finance.

1973—Subsec. (a). Pub. L. 93–32, § 6, increased from eight times the paid-in capital and retained earnings of the telephone bank to twenty times the paid-in capital and retained earnings of the telephone bank the amount of telephone debentures which may be outstanding at any one time and struck out provisions directing the insertion by the telephone bank in all its telephone debentures of appropriate language indicating that such telephone debentures together with interest thereon are not guaranteed by the United States and do not constitute a debt or obligation of the United States or of any agency or instrumentality thereof other than the telephone bank.

Subsec. (c). Pub. L. 93–32, § 7, added subsec. (c).

1972—Pub. L. 92–324 designated existing provisions as subsec. (a) and added subsec. (b).

Amendment by Pub. L. 93–32 effective May 11, 1973, see section 12 of Pub. L. 92–32, set out as an Effective Date note under section 930 of this title.

Amendment by Pub. L. 92–324 effective June 30, 1972, see section 4 of Pub. L. 92–324, set out as an Effective Date note under section 921b of this title.

Section effective May 7, 1971, see section 7 of Pub. L. 92–12, set out as a note under section 921a of this title.