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Page:United States Statutes at Large Volume 61 Part 1.djvu/806

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PUBLIC LAWS-CH. 498-AUG. 5 , 1947 Other powers. (k) Shall have such other powers as may be necessary and incident to carrying out its powers and duties under this Act. Termination of SEC. 4. Upon termination of the corporate life of the Institute all Insttte of its functions shall be liquidated and, thereafter, unless otherwise provided by Congress, the assets shall be transferred to the United States Treasury as the property of the United States. Board of diretors. SEC. 5 . (a) The management of the Institute shall be vested in a board of directors (hereinafter referred to as the "Board") of not less than five in number, each of whom shall be appointed by the Secretary of State from among the officials and employees of the Department of State and, in the discretion of the Secretary of State and with the consent of the Chiefs of other departments or agencies respectively concerned from among the officials and employees of other United Investigation by States Government departments and agencies: Provided That no per- son shall be appointed as a director under authority of this paragraph (a) until such person has been investigated by the Federal Bureau of Investigation. (b) The Secretary of State shall designate one director as Chairman of the Board. (c) The directors shall hold office at the pleasure of the Secretary of State. Compensation (d) The directors shall receive no additional compensation for their services as directors but may be allowed actual necessary traveling and subsistence expenses incurred by them in the performance of their duties as directors. (e) The Board shall direct the exercise of all the powers of the Institute. Rues, eta. (f) The Board may prescribe, amend, and repeal bylaws, rules, and regulations governing the manner in which the business of the Institute may be conducted and in which the powers granted to it by law may Quorum. be exercised and enjoyed: Provided,That a majority of the Board shall be required as a quorum. Oommittees. (g) In furtherance and not in limitation of the powers conferred upon it, the Board may appoint such committees for the carrying out ofthe work of the Institute as the Board finds to be for the best interests of the Institute, each committee to consist of two or more of the directors, which committees, together with officers and agents duly authorized by the Board and to the extent provided by the Board, shall have and may exercise the powers of the Board in the manage- ment of the business and affairs of the Institute. Nonprofit corpora. SEC. 6. The Institute shall be a nonprofit corporation and shall have no capital stock. No part of its revenue, earnings, or other income or property shall inure to the benefit of its directors, officers, and employees and such revenue, earnings, or other income, or property shall be used for the carrying out of the corporate purposes herein set forth. No director, officer, or employee of the corporation shall in any manner directly or indirectly participate in the deliberation upon or the determination of any question affecting his personal interests or the interests of any corporation, partnership, or organization in which he is directly or indirectly interested. Persitonebthother SEC. 7. When approved by the Institute, in furtherance of its pur- poses, the officers and employees of the Institute may accept and hold offices or positions to which no compensation is attached with govern- ments or governmental agencies of the other American Republics. Detaoftemployees. SEC. 8. The Secretary of State shall have authority to detail employees of the Department of State to the Institute under such cir- cumstances and upon such conditions as he may determine: Provided, That any such employee so detailed shall not lose any privileges, rights, or seniority as an employee of the Government by virtue of such detail. 782 [61 STAT.