Page:United States Statutes at Large Volume 50 Part 1.djvu/824

 75TH CONGRESS, 1ST SESSI ON-CH. 762-AUGUST 25, 1937 fostering public welfare and education, aiding the ' development of our country's industries, and adding to the material prosperity and happiness of our people. SEC . 3 . That the American Chemical Society shall have power to make its own organization, including its constitution, bylaws, rules, and regulations ; to fill all vacancies created by death, resignation, or otherwise ; to provide for the election of members, their division into classes, and all other matters needful and useful to promote the objects of the society. It shall hold an annual meeting at such place in the United States as may from time to time be designated. SEc. 4 . That the American Chemical Society shall, whenever called upon by the War or Navy Department, investigate, examine, experiment, and report upon any subject in pure or applied chem- istry connected with the national defense, the actual expense of such investiga tions, examinations, experiments, and reports to be paid from appr opriations which ma y have bee n made for that pur pose by Congress, but the society shall receive no compensation whatever for any services to the Government of the United States : Provided, That the title to any and all inventions and discoveries made in the course of such investigations, examinations, and experiments that, in the opini on of the Secretary of the Navy or the Secretary of War. involve the national defense, shall vest in the Government of the United States, and the Government of the United States shall have unlimited license under all other inventions and discoveries. SEc . 5. That the American Chemical Society be, and the same is hereby, authorized and empowered to receive, by devise, bequest, donation, or otherwise, either real or personal property and to hold the same absolutely or in trust, and to invest, reinvest, and manage the same and to apply said property and the income arising there- from to the objects of its creati on. SEC. 6. That as soon as may be possible after the passage of this Act a meeting of the directors herembefore named shall be held at the city of Washington in the District of Columbia by notice served in person or b mail addressed to each director at his place of resi- dence by the Secretary of the American Chemical Society, a New York corporation, and the said directors, or a majority thereof, being assembled, shall organize and proceed to adopt bylaws, to elect offic ers an d app oint c ommit tees, and g enera lly t o orga nize the' s aid corporation ; and said dire ctors here in named, on behalf of the corporation hereby incorporated, shall thereupon receive take over, and enter into possession, custody, and management of ail property, real or personal, of the corporation heretofore known as the Ameri- can Chemical Society incorporated as hereinbefore set out under the laws of the State of ?New York on November 9, 1877, and to all its rights, contracts, claims, and property of any kind or nature ; and the s evera l off icers of su ch cor porat ion, or any othe r per son ha ving charge of any of the securities, funds, real or personal, books or property thereof, shall, on demand, deliver the same to the said directors appointed by this Act or to the persons appointed by them to receive the same ; and the directors of the existing corporation and the directors herein named shall and may take such other steps as shall be necessary to carry out the purposes of this Act. SEc. 7. That the rights of the creditors of the said existing New York c orporation known as the Ameri can Chemic al Societ y shall not in any manner be impaired by the passage of this Act, or the transfer of the property hereinbefore mentioned, nor shall any liability or obligation for the payment of any sums due or to become due, or any claim or demand, in any manner or for any cause existing against the said New York corporation, be released 799 Corporate powers. Coop erat ion with war and Navy De- part men ts. Proviso. Title to inventions and discoveries. Acceptance of gifts, bequests, etc. Organization under nati onal c harter . Rights of creditors.