Federal Stock Savings and Loan Association Act

[AI summary unavailable — showing source text] Federal Stock Savings and Loan Association Act - Revises the definitions of the terms "institution," "building and loan association," "savings and loan association," "Federal mutual association," and "State stock institution" as used in the Home Owners Loan Act. Sets forth procedures under the Home Owner's Loan Act by which (1) any State mutual institution may convert itself to a Federal mutual association; (2) any State stock institution may convert itself to a Federal stock association; (3) any Federal mutual association may convert itself to a State mutual institution; (4) any Federal stock association may convert itself to a State stock institution; (5) a Federal mutual association may convert to either a Federal stock association or State stock institution; and (6) a State mutual institution may convert to a Federal stock association. Creates, under the management of the Federal Home Loan Bank Board, the Housing Trust Fund. Provides that the Trust Fund be used to assist in the achievement of the national housing goal established in the Housing Act of 1949 and affirmed in the Housing and Urban Development Act of 1968. Authorizes the Federal Home Loan Bank Board to issue such ru…