Reconstruction Finance Corporation Act

[AI summary unavailable — showing source text] Reconstruction Finance Corporation Act - Establishes a body corporate known as the "Reconstruction Finance Corporation" with a principal office to be located in the District of Columbia. Provides that the Corporation shall have a capital stock of $2,000,000,000 to be appropriated from the Treasury of the United States. Specifies the membership of the Board of Directors of such Corporation and grants the Corporation the powers necessary to function as such. Authorizes the Corporation, in order to aid in financing agriculture, commerce, and industry, to make loans to any business concern: (1) to enable such business concern to finance plant construction, conversion, or expansion, or the acquisition of equipment, facilities, machinery, supplies, or materials; (2) to supply such business concern with working capital; or (3) to aid such business concern in the payment of current debts or obligations, if such aid is considered by the Board of Directors to be in the public interest. Provides that no loan may be made to any business concern under this Act unless such business concern is unable to obtain a loan on reasonable terms. Provides that each loan made under this Act may be made for…