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,
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61 STAT.] 783
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