Show BUILDING LOAN BILLS PLANNED Eight bills to place Utah building and loan companies under federal programs were being beins drafted dratted Frid Friday ly by John by-John John A. A Malia state bank commissioner commissioner com corn missioner for submission to the leg leg- legislature slature shortly Among other things they would enable companies to take out insurance insurance insurance ance similar to lo deposit insurance o of banks anks One measure would woud provide for of or rights and interests of ol creditors and investors The bank commissioner would have lave power to lo impound all assets without actually closing a corporation corpora corpora- tIon ion in the hope of ot preventing litigation litigation tion ion during the process of straightening straighten straighten- ing Log company affairs Another measure would enable companies to federalize similar to a national bank and go under federal instead of ot state supervision However However How How- ever federalization would not be necessary to take out federal insurance ance anee The statute adopted in 1933 permitting per per- reorganization of or building and loan companies would be clarified clari clarl- fied tied and made more workable by another bill Another would allow companies to participate in the federal housing ac ac- No question as to authority of r companies to take part has yet arisen Mr Malia Malla said but the bill will be submitted as a safeguard |