SEVENTY-FIRST CONGRESS . SESS . III. CHs. 317, 318 . 1931 .
1429 a motor vehicle equipped with a smoke screen : Provided further, That any individual whose permit shall be denied, suspended, or .r evoked by t he co mmissi oners or th eir a gent may, w ithin thir ty day s after such denial, revocation, or suspension is ordered, if application for a review by the commissioners of an order for revocation or sus- pension has not been filed, or in case such application has been filed, w ithin thirt y days afte r dec ision of th e com missio ners, apply to a ny justice of the Court of Appeals of the District of Columbia for a writ of error to review the order of the commissioners or their agent complained of or the decision of the commissioners . Said court is authorized to promulgate rules governing the application for the writ, and the record and proceedings thereon, and to affirm, modify, or reverse the order of t he commissi oners or th eir agent o r the decis ion of the commissioners, where the writ is allowed pursuant hereto ; and the decision of said court shall be final : And provided further, That the application to said court for a writ of error shall not operate as a stay of such order of the commissioners or their agent or the decision of the commissioners ." 5 . All convictions under this Act shall be reported by the clerk of the court to the commissioners or their designated agent . 6 . This Act shall take effect July 1, 1931 . Approved, February 27, 1931 . CHAP . 318 .-An Act To in cre ase the loan basis of adjusted service certificates. Be it enacted by the Senate and House o f Representatives o f the United States of America in Congress assembled, That section 502 of the World War Adjusted Compensation Act, as amended, is amended by adding at the end thereof two new subdivisions to read as follows "(1) For the purpose of this section the loan basis provided in subdivision (g) shall at no time be less than 50 per centum of the face value of the certificate, and in no event shall the rate of interest o n any loan made a fter this subdiv ision take s effe ct ex ceed 41/2 per centum per annum, compounded annually . If at the time of appli- cation to the Administrator of Veterans' Affairs for a loan the principal and interest on or in respect of any prior loan under this section have not been paid in full by the veteran (whether or not the loan has matured), then, on request of the veteran, the Adminis- trator shall (1) pay or otherwise discharge such unpaid principal and so much of such unpaid interest (accrued or to accrue) as is necessary to make the certificate available for use as security for the new loan and (2) deduct the same from the then existing loan basis of the certificate . "(m) Loans made by the Administrator of Veterans' Affairs under this section may at his option be made out of the United States Government life insurance fund, or out of the Adjusted Service Certificate Fund created under section 505 ." SEC. 2 . Section 507 of such Act, as amended, is amended to read as follows " SEC . 507 . All amounts in the fund shall be available for payment, by the Administrator, of adjusted service certificates upon their ma- turity or the prior death of the veteran, for payments under section 502 to banks on account of notes of veterans, and for making loans a uthor ized by sec tion 502, as ame nded ." For writ of error. Court to make rules . App licati on no t to act as stay of order . Convictions to be re- ported . Effective date . February 27, 1931. (H. x .17054 .] [Public, No. 743.] Wor ld War Adju sted Compensation Act, amendment . Vol . 43, p. 126; VOL 44, p . 1389; Vol .45,p. 1561, amended. U. S. C., p. 1231; Supp. IV, p. 540. Loan basis. Calculation of; inter- est rate. Adjustment of un- paid prior loans, etc . Funds available for loans. Vol . 43, p. 128. Payments . Vol. 43, p .128, amend- ed. U.S. C.,p. 1233 . Vol.45,p. 1561.
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