Page:United States Statutes at Large Volume 61 Part 1.djvu/807

 80TH CONG. , 1 ST SESS.-CH. 498-AUG. 5, 1947 SEC. 9. The principal office of the Institute shall be located in the Principal District of Columbia, but there may be established agencies, branch offices, or other offices in any place or places within the United States or the other American Republics in any of which locations the Institute may carry on all or any of its operations and business under bylaws or rules and regulations. SEC. 10. The Institute, including its franchise and income, shall be ExemPtio exempt from taxation now or hereafter imposed by the United States, or any Territory, dependency, or possession thereof, or by any State, county, municipality, or local taxing authority. SEC. 11. The right to alter, amend, or repeal this Act is hereby Rights res expressly reserved. If any clause, sentence, paragraph, or part of this ,Separabil Act shall for any reason be adjudged by any court of competent juris- diction to be invalid, such judgment shall not affect, impair, or invali- date the remainder of this Act, but shall be confined in its operations to the clause, sentence, paragraph, or part thereof directly involved in the controversy in which such judgment shall have been rendered. SEC. 12. The Institute of Inter-American Affairs and the Inter- prospetr American Educational Foundation, Inc., two Government corpora- tions caused to be created under the laws of the State of Delaware on March 31, 1942, and September 25, 1943, respectively, by the Coordina- tor of Inter-American Affairs, shall, within ten days following the enactment of this Act, transfer to the corporation created by this Act all necessary personnel, the assets, funds, and property-real, personal, and mixed-and all debts, liabilities, obligations, and duties, and all rights, privileges, and powers subject to all restrictions, disa- bilities, and duties of the two said corporations, and the corporation created by this Act, shall accept full title to and ownership of all the assets, funds, and property-real, personal, and mixed-and all debts, liabilities, obligations, and duties, and all rights, privileges, and powers subject to the said restrictions, disabilities, and duties of the two said corporations and all such debts, liabilities, obligations, and duties of the two said corporations shall henceforth attach to the corporation created by this Act and may be enforced against it to the same extent as if said debts, liabilities, obligations, and duties had been incurred or contracted by the corporation created by this Act: Proidded, That all pliy F citizens of the United States presently employed by the Institute of Inter-American Affairs or the Inter-Aierlican Educational Founda- tion, Inc., and transferred under authority of this section 12 to the corporation created by this Act shall be investigated by the Federal Bureau of Investigation within six months following the date of enactment of this Act: Providedfurther, That no person not a citizen citlzon of the United States presently employed by the Institute of Inter- American Affairs or the Inter-American Educational Foundation, Inc., for service in an American Republic of which such person is not a citizen, and transferred under authority of this section 12, shall be retained in such service for a period exceeding three months from the date of enactment of this Act except with the specific approval of the government of the American Republic concerned. SFC. 13. The Institute shall be subject to the provisions of the Government Corporation Control Act (Public Law 248, Seventy-ninth 31U Congress). At' SEC. 14. There are authorized to be appropriated, at a rate not to Appropr5i exceed $5,000,000 annually, out of any money in the Treasury not thorized. otherwise appropriated, such sums as may be necessary to carry out this Act. Short tit. This Act may be cited as the "Institute of Inter-American Affairs Act". Approved August 5, 1947. office, n from srved. of funds, on of em. BI. of non- '. 841 et 4.
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61 STAT.] 783

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