Section 4
SEC. 4. Section twenty-seven of Act Numbered Twenty-five hundred and eight, as amended by Act Numbered Twenty-five hundred and sixty-six, is hereby further amended to read as follows: "SEC. 27. The reserve fund shall consist of a sum set aside by the board of directors from the profits at each annual balance prior to the declaration and distribution of any dividend, which sum shall not be less than twenty per centum of said net profits. "The reserve fund may be invested in securities or investments to be recommended by the Director of Commerce and approved by the Secretary of Agriculture and Commerce and shall be expended for covering the deficits of the association : Provided, however, That not more than twenty per centum of the amount thus set aside may be spent for salaries, the aforesaid amount, after the deduction made for salaries herein authorized, being available only for inspection and supervision, subject to the rules and regulations to be promulgated for the purpose by the Secretary of Agriculture and Commerce, upon the recommendation of the Director of Commerce."