Page:United States Statutes at Large Volume 70.djvu/1112

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PUBLIC LAW 989-AUQ. 6, 1956

[70 S T A T,

the accounts of the corporation are normally kept. All books, accounts, financial records, reports, files, and all other papers, things, or property belonging to or in use by the corporation and necessary to facilitate the audit shall be made available to the person or persons conducting the audit; and full facilities for verifying transactions with the balances or securities held by depositories, fiscal agents, and custodians shall be afforded to such person or persons. (b) A report of such audit shall be made by the corporation to the Congress not later than March 1 of each year. The report shall set forth the scope of the audit and shall include a verification by the person or persons conducting the audit of statements of (1) assets and liabilities, (2) capital and surplus or deficit, (3) surplus or deficit analysis, (4) income and expense, and (5) sources and application of funds. Such report shall not be printed as a public document. USE o r ASSETS ON DISSOLUTION OR LIQUIDATION

SEC. 15. Upon dissolution or final liquidation of the corporation, after discharge or satisfaction of all outstanding obligations and liabilities, the remaining assets, if any, of the corporation shall be distributed in accordance with the determination of the board of directors of the corporation and in compliance with the constitution and bylaws of the corporation and all Federal and State laws applicable thereto. TRANSFER OF ASSETS

SEC. 16. The corporation may acquire the assets of the Boys' Clubs of America, a corporation organized under the laws of the Commonwealth of Massachusetts, upon discharging or satisfactorily providing for the payment and discharge of all of the liability of such corporation and upon complying with all laws of the Commonwealth of Massachusetts applicable thereto. RESERVATION OF RIGHT TO AMEND OR REPEAL CHARTER

SEC. 17. The right to alter, amend, or repeal this Act is expressly reserved. Approved August 6, 1956.

P u b l i c Law 989 August 6, 1956 LS» 2585]

CHAPTER 977

AN ACT IJQ authorize an exchange of land at the Agricultural Research Center.

Be it enacted by the Senate and House of Representatives of the selMh'c^ntM.^*" tJnited States of America in Congress assembled, That the Secretary Land exchange, of Agriculture is hereby authorized to convey by quitclaim deed to the Powder Mill Development Company, Incorporated, a parcel of land containing approximately one thousand three hundred and seventyfive square feet and located on the northerly side of Selman Road, Prince George's County, Maryland, and separated from the Agricultural Research Center, Beltsville, Maryland, by Selman Road and Cherry Hill Road, in exchange for that parcel of land now owned y the Powder Mill Development Company, Incorporated, containing pproximately three thousand one hundred and twenty-six square feet and located on the southerly side of the said Selman Road, Prince Greorge's County, Maryland, and adjoining other lands of the Agricultural Research Center, Beltsville, Maryland: Provided, That the lands so acquired from the Powder Mill Development Company,

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