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entered under bond, unless it is exported by the owner or consignee or labeled by him so as to conform to the law within three months from the date of such notice, under such regulations as the Secretary of the Treasury may prescribe. All charges for storage, cartage, or labor on any such substance refused admission or delivery or entered upon bond shall be paid by the owner or consignee. In default of such payment such charges shall constitute a lien against any future importations made by such owner or consignee. (Mar. 4, 1927, ch. 489, § 5, 44 Stat. 1408.)

8 406. Removal of labels.—No person shall alter, mutilate, destroy, obliterate, or remove any label or sticker required by this chapter to be placed on any dangerous caustic or corrosive substance, if such substance is being

(a) Shipped in interstate or foreign commerce; or (b) Held for sale or exchange after having been so shipped; or

(c) Held for sale or exchange in any Territory or possession or by the District of Columbia. (Mar. 4, 1927, ch. 489, § 6, 44 Stat. 1409.)

407. Penalties.—Any person violating any provision of section 403 or 406 of this title shall upon conviction thereof be punished by a fine of not more than $200 or imprisonment for not more than ninety days, or by both. (Mar. 4, 1927, ch. 489, § 7, 44 Stat. 1409.)

§ 408. Institution of libel for condemnation and criminal proceedings.—It shall be the duty of each United States district attorney to whom the Secretary of Agriculture shall report any violation of section 403 or 406 of this title or to whom any health, medical, or drug officer or agent of any State, Territory, or possession, or of the District of Columbia presents satisfactory evidence of any such violation, to cause libel for condemnation and criminal proceedings under sections 404 and 407 of this title to be commenced and prosecuted in the proper courts of the United States, without delay, for the enforcement of the condemnation and penalties provided in such sections. (Mar. 4, 1927, ch. 489, § 8, 44 Stat. 1409.)

§ 409. Enforcement of chapter.—(a) Except as otherwise specifically provided in this chapter, the Secretary of Agriculture shall enforce its provisions.

(b) For enforcing the provisions of sections 404, 405, and 407 of this title, the Secretary of Agriculture may cause investigations, inspections, analyses, and tests to be made and samples to be collected, of any dangerous caustic or corrosive substance. The Department of Agriculture shall pay to the person entitled, upon his request, the reasonable market value of any such sample taken. If it appears from the inspection, analysis, or test of any dangerous caustic or corrosive substance that such substance is in a misbranded package, parcel, or container suitable for household use, the Secretary of Agriculture shall cause notice thereof to be given to any person who may be liable for any violation of section 403 or 406 of this title in respect of such substance. Any person so notified shall be given an opportunity to be heard under regulations prescribed by the Secretary of Agriculture. If it ap

pears that such person has violated the provisions of section 403 or 406 of this title, the Secretary of Agriculture shall at once certify the facts to the proper United States district attorney, with a copy of the results of the inspection, analysis, or test duly authenticated under oath by the person making such inspection, analysis, or test.

(c) For the enforcement of his functions under this chapter the Secretary of Agriculture is authorized

(1) To prescribe and promulgate such regulations as may be necessary.

(2) To cooperate with any department or agency of the Government, with any State, Territory, or possession, or with the District of Columbia, or with any department, agency, or political subdivision thereof, or with any person.

(3) Subject to the civil-service laws to appoint and, in accordance with section 661-673 and 674 of Title 5, to fix the salaries of such officers and employees as may be required for the execution of the functions of the Secretary of Agriculture under this chapter and as may be provided for by the Congress from time to time.

(4) To make such expenditures (including expenditures for personal services and rent at the seat of government and elsewhere, and for law books, books of reference, and periodicals) as may be required for the execution of the functions vested in the Secretary of Agriculture by this chapter and as may be provided for by the Congress from time to time.

(5) To give notice, by publication in such manner as the Secretary of Agriculture may by regulation prescribe, of the judgment of the court in any case under the provisions of this chapter. (Mar. 4, 1927, ch. 489, $ 9, 44 Stat. 1409.)

§ 410. Separability clause. If any provision of this chapter is declared unconstitutional, or the applicability thereof to any person or circumstance is held invalid, the constitutionality of the remainder of the chapter and the applicability thereof to other persons and circumstances shall not be effected thereby. (Mar. 4, 1927, ch. 489, § 10, 44 Stat. 1410.)

§ 411. Application to existing law.—The provisions of this chapter shall be held to be in addition to and not in substitution for the provisions of the following:

(a) Sections 1-15 of Title 21. (b) Chapter 6 of Title 7.

(c) The Act entitled "An Act to regulate the practice of pharmacy and the sale of poisons in the District of Columbia, and for other purposes”, approved May 7, 1906, as amended. (Mar. 4, 1927, ch. 489, § 12, 44 Stat. 1410.)

REFERENCES IN TEXT Chapter 6 of Title 7, Agriculture, to which reference is made in subsection (b), constitutes the Insecticide Act of 1910.

Sections 1-15 of Title 21, Food and Drugs, to which reference is made in subsection (a), constitute the Food and Drugs Act, approved June 30, 1906.

The act of May 7, 1906, to which reference is made in subsection (c), is local in nature and therefore does not appear in the code.

TEXTILE FOUNDATION

§ 501. Textile Foundation; creation of body corporate; directors; principal office; agencies.—The Secretary of Commerce, the Secretary of Agriculture, and three directors first appointed as provided in section 502 of this chapter and their successors, are hereby created a body corporate of the District of Columbia by the name of the “Textile Foundation" (in this chapter referred to as the corporation). The incorporation shall be held effected upon the date of the first meeting of the board of directors. The corporation shall maintain its principal office in the District of Columbia and may establish such agencies or branch offices at such places as it deems advisable. (June 10, 1930, ch. 440, $ 1, 46 Stat. 539.)

§ 502. Same; board of directors; appointment; term; vacancies; quorum; compensation; powers.--(a) The board of directors of the corporation (in this chapter referred to as the board) shall be constituted as follows:

(1) The Secretary of Commerce;
(2) The Secretary of Agriculture, and

(3) Three individuals, familiar with the textile industry or its allied branches, including that of production of raw materials, and their successors, to be appointed by the President, one for a term of two years, one for a term of three years, and one for a term of four years, from the date the incorporation is effected.

(b) Each successor shall be appointed for a term of four years from the date of the expiration of the term of the member whom he succeeds, except that any successor appointed to fill a vacancy occurring prior to the expiration of the term shall be appointed only for the unexpired term of the member whom he succeeds. A vacancy in the office of a director shall not impair the power of the remaining directors to execute the functions of the board. A majority of the directors shall constitute a quorum for the transaction of the business of the board.

(c) The members of the board shall serve without compensation for their services as such members, but they shall be reimbursed from the corporation for actual expenses incurred by them while in the performance of the functions vested in the board by this chapter.

(d) Any officer or employee of the United States, or of any corporation acting as a governmental agent of the United States, may, in addition to his present office, hold the office of director of the Textile Foundation without regard to any provision of law prohibiting the holding of more than one office.

(e) The board at its first meeting and at each annual meeting thereafter shall elect a chairman.

(f) The board shall direct the exercise of all the powers of the corporation. (June 10, 1930, ch. 440, $ 2, 46 Stat. 539.)

8 503. Same; purpose of Foundation.-(a) The purposes of the corporation shall be to administer and expend its funds and other property for scientific and economic research for the benefit and development of the textile industry, its allied branches, and including that of production of raw materials.

(b) The Textile Alliance, Incorporated, is hereby authorized to pay to the corporation the amounts payable in accordance with the arrangement between the Textile Alliance, Incorporated, and the Department of State, in lieu of paying such amounts into the United States Treasury; except that any amounts payable in accordance with such arrangement, and paid into the United States Treasury before June 10, 1930, are authorized to be appropriated to the credit of the corporation. Upon the receipt by the corporation of such amounts the liability of the Textile Alliance, Incorporated, under such arrangement shall be extinguished. (June 10, 1930, ch. 440, $ 3, 46 Stat. 539.)

8 504. Same; powers.—The corporation
(a) Shall have perpetual succession;
(b) May sue and be sued;
(c) May adopt a corporate seal and alter it at pleasure;
(d) May adopt and alter bylaws;
(e) May appoint officers and agents;

(f) May acquire by purchase, devise, bequest, gift, or otherwise, and hold, encumber, convey, or otherwise dispose of, such real and personal property as may be necessary or appropriate for its corporate purposes;

(g) May invest and reinvest the principal and interest of its funds; and

(h) Generally, may do any and all lawful acts necessary or appropriate to carry out the purposes for which the corporation is created. (June 10, 1930, ch. 440, § 4, 46 Stat. 540.)

8 505. Same; report to Congress.—The corporation shall, on or before the 1st day of December in each year, transmit to Congress and to the President a report of its proceedings and activities for the preceding calendar year, including a detailed statement of its receipts and expenditures. Such reports shall not be printed as public documents. (June 10, 1930, ch. 440, § 5, 46 Stat. 540.)

§ 506. Same; amendment and repeal.—The right to alter, amend, or repeal sections 501-505 of this title is hereby expressly reserved. (June 10, 1930, ch. 440, § 6, 46 Stat. 540.)

RECONSTRUCTION FINANCE CORPORATION § 601. Reconstruction Finance Corporation; creation; office and branches; citation of act. There is hereby created a body corporate with the name “Reconstruction Finance Corporation” (in this chapter called the "corporation”). The principal office of the corporation shall be located in the District of Columbia, but there may be established agencies or branch offices in any city or cities of the United States under rules and regulations prescribed by the board of directors. Sections 601-604, 605, 606-606b, 606g, 607, 608, 609, 610, 611, 612, 613, 614-616, and 617 of this title may be cited as the “Reconstruction Finance Corporation Act.” (Jan. 22, 1932, ch. 8, § 1, 47 Stat. 5.)

§ 602. Capital stock; amount; subscription by United States; payments; loans or advances to farmers; retirement of stock.The corporation shall have capital stock of $500,000,000, subscribed by the United States of America, payment for which shall be subject to call in whole or in part by the board of directorors of the corporation.

There is hereby authorized to be appropriated, out of any money to the Treasury not otherwise appropriated, the sum of $500,000,000, for the purpose of making payments upon such subscription when called: Provided, That $50,000,000 of the amount so subscribed, and the expansion of same through the notes, debentures, bonds, or other obligations as set out in section 609 of this title (as in force prior to July 21, 1932) shall be allocated and made available to the Secretary of Agriculture, which sum, or so much thereof as may be necessary, shall be expended by the Secretary of Agriculture for the purpose of making loans or advances to farmers in the several States of the United States in cases where he finds that an emergency exists as a result of which farmers are unable to obtain loans for crop production during the year 1932: Provided further, that the Secretary of Agriculture shall give preference in making such loans or advances to farmers who suffered from crop failures in 1931. Such advances or loans shall be made upon such terms and conditions and subject to such regulations as the Secretary of Agriculture shall prescribe. A first lien on all crops growing, or to be planted and grown, shall, in the discretion of the Secretary of Agriculture, be deemed sufficient security for such loan or advance. All such loans or advances shall be made through such agencies as the Secretary of Agriculture may designate, and in such amounts as such agencies, with the approval of the Secretary of Agriculture, may determine. Any person who shall knowingly make any material false representation for the purpose of obtaining an advance or loan, or in assisting in obtaining such advance or loan under this section, shall, upon conviction thereof, be punished by a fine of not exceeding $1,000 or by imprisonment not exceeding six months, or both.

Receipts for payments by the United States of America for or on account of such stock shall be issued by the corporation to the Secretary of the Treasury and shall be evidence of the stock ownership of the United States of America.

In order to enable the Secretary of the Treasury to make payments upon stock of Federal Home Loan Banks subscribed for by him in accordance with the Federal Home Loan Bank Act, the sum of $125,000,000, or so much thereof as may be necessary for such purpose, is hereby allocated and made available to the Secretary of the Treasury out of the capital of the corporation and/or the proceeds of notes, debentures, bonds, and other obligations issued by the corporation. For the purposes of this paragraph, the corporation shall issue such notes, bonds, debentures, and other obligations as may be necessary.

The Corporation is authorized to make payments from time to time to the Secretary of the Treasury in amounts to be determined by the Corporation, with the approval of the Federal Loan Administrator, for the partial retirement of its capital stock at par and in payment of dividends from earnings. The aggregate amount of notes, debentures, bonds, or other such obligations

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