Chapter 2-ALASKA NATIONAL FOREST LANDS

§ 341. Occupancy and use permit; period of permit; size of area allotted; prohibitions; termination.-The Secretary of Agriculture, in conformity with regulations prescribed by him, may permit the use and occupancy of national forest lands in Alaska for purposes of residence, recreation, public convenience, education, industry, agriculture, and commerce, not incompatible with the best use and management of the national forests, for such periods as may be warranted but not exceeding thirty years and of such areas as may be necessary but not exceeding eighty acres, and after such permits have been issued and so long as they continue in full force and effect the lands therein described shall not be subject to location, entry, or appropriation, under the public land laws or mining laws, or to disposition under the mineral leasing laws: Provided, That nothing contained in this section shall prevent the said Secretary from canceling, revoking, or otherwise terminating a permit so issued upon proof of a breach of its terms and conditions or for other just cause. (March 30, 1948, ch. 162, 62 Stat. 100.)

Chapter 7.-THE VIRGIN ISLANDS

§ 1401d. Same; payments by Virgin Islands Company; valuation; property owned by the United States.-The Virgin Islands Corporation shall pay annually into the municipal treasuries of the Virgin Islands in lieu of taxes an amount equal to the amount of taxes which would be payable on the real property in the Virgin Islands owned by the Virgin Islands Corporation, if such real property were in private ownership and taxable, but the valuation placed upon such property for taxation purposes by the local taxing authorities shall be reduced to a reasonable amount by the designee of the President of the United States as provided in section 1407 of this title if, after investigation, he finds that such valuation is excessive and unreasonable, and any such reduction in valuation, together with the findings on which it is based, shall not be reviewable by any court. The Virgin Islands Corporation shall also pay into the municipal treasuries of the Virgin Islands amounts equal to the amounts of any taxes of general application which a private corporation similarly situated would be required to pay into the said treasuries. Similar payments shall be made with respect to any property owned by the United States in the Virgin Islands which is used for ordinary business or commercial purposes, and the income derived from any property so used shall be available for making such payments: Provided, however, That the payments authorized by this section shall not include payments in lieu of income taxes, capital stock taxes, or franchise taxes. (May 26, 1936, ch. 450, § 5, 49 Stat. 1372, amended June 30, 1949, ch. 285, § 12, 63 Stat. 356.) 1949 amendment.-Act June 30, 1949, cited to text, amended section to make it applicable to the Virgin Islands Corporation.

Effective date.-Section 14 of Act June 30, 1949, cited to text, provided that amendment of this section by section 12 of said Act June 30, 1949, should be effective as of June 30, 1949.

Cross references.-Financial control of Virgin Islands Company, see chapter 14 of Title 31, Money and Finance.

VIRGIN ISLANDS CORPORATION

§ 1407. Creation of Corporation; name.-In order to promote the general welfare of the inhabitants of the Virgin Islands of the United States through the economic development of the Virgin Islands, there is created a body corporate to be known as the Virgin Islands Corporation, hereinafter referred to as the "Corporation." The Corporation shall be subject to the general direction of the President of the United States, or the head of such agency as he may designate as his representative. (June 30, 1949, ch. 285, § 1, 63 Stat. 350.)

Effective date.-Section 14 of Act June 30, 1949, cited to text, provided that sections 1407-1407i of this title should become effective June 30, 1949.

Short title.-Congress in enacting sections 1407-1407i and amendments to section 846 of Title 31 and section 1401d of this title provided by section 15 of Act June 30, 1949, cited to text, that they should be known as the "Virgin Islands Corporation Act."

Dissolution of Virgin Islands Company.-Section 11 of Act June 30, 1949, cited to text, provided that: "The Secretary of the Interior, the Under Secretary of the Interior, and the Governor of the Virgin Islands, who are the stockholders of the Virgin Islands Company, a corporation created by ordinance of the Colonial Council for Saint Thomas and Saint John, Virgin Islands of the United States, are authorized and directed to take such steps as may be appropriate to dissolve the said Virgin Islands Company."

§ 1407a. Principal offices; venue; establishment of branch offices.The Corporation shall have its principal offices in the Virgin Islands and in the District of Columbia and shall be deemed, for purposes of venue in civil actions, to be an inhabitant of each of these jurisdictions. The Corporation may establish offices in such other place or places as it may deem necessary or appropriate in the conduct of its business. (June 30, 1949, ch. 285, § 2, 63 Stat. 351.)

Effective date.-Section as effective June 30, 1949, see note set out under section 1407 of this title.

81407b. Authorized activities of Corporation.-Subject to the provisions of the Government Corporation Control Act, the Corporation is authorized to engage in the following activities when it finds that such activities will further the purposes of sections 1407-1407i of this title and will not conflict with the encouragement and promotion of private enterprise in the Virgin Islands:

(a) To examine, investigate, and conduct research and experimentation in the marketing, distributing, advertising, and exporting of products or resources of the Virgin Islands, and to make known the results of such activities.

(b) To encourage and promote the investment of private capital in industrial, agricultural, commercial, or related enterprises, undertakings, or activities in the Virgin Islands. Insofar as may be possible without jeopardizing the maximum development of the industrial, agricultural, commercial, and related resources of the Virgin Islands for the public good, the Corporation shall formulate its policies so as to encourage and promote the investment of capital owned by residents of the Virgin Islands.

(c) To engage in land-use planning to the end that the most economic and socially beneficial use may be made of the soil of the Virgin Islands, and to encourage and assist private persons and organizations to act in accordance with the results of such planning.

(d) To encourage and engage in the business of providing, whenever adequate facilities are not otherwise available, transportation for persons and property between the Virgin Islands and to and from the Virgin Islands, Puerto Rico, and Tortola.

(e) To encourage, promote, and develop, and to assist in the encouragement, promotion, and development of, tourist trade in the Virgin Islands.

(f) To encourage the establishment and development of small farms and small farm communities in the Virgin Islands, and, for that purpose, to construct, equip, improve, and supervise such small farms or communities and to give other assistance to them.

(g) To make loans to any person for the establishment, maintenance, operation, construction, reconstruction, repair, improvement, or enlargement of any industrial, commercial, agricultural, or related enterprise, undertaking, or activity in the Virgin Islands whenever such loans are not available from private sources. All loans so made shall be of such sound value or so secured as reasonably to assure repayment, taking into consideration the policy of the Congress that the lending powers of the Corporation shall be administered as a means for accomplishing the purposes stated in section 1407 of this title, and shall bear interest at a rate not exceeding 6 per centum per annum. It shall be the general policy of the Corporation to establish interest rates on loans, subject to the foregoing limitations, that, in the judgment of the Board of Directors, will at least cover the interest cost of funds to the United States Treasury, other expenses of the lending activities of the Corporation, and a risk factor which, over all, should provide for losses that may materialize on loans. The loans made under the authority of this paragraph outstanding at any one time shall not exceed a total of $5,000,000.

(h) To establish, maintain, operate, and engage in, upon its own account, any appropriate enterprise, undertaking, or activity for the development of the industrial, commercial, mining, agricultural, livestock, fishery, or forestry resources of the Virgin Islands: Provided, That the Corporation shall not engage in the manufacture of rum or other alcoholic beverages. (June 30, 1949, ch. 285, § 3, 63 Stat. 351.) References in text.-The Government Corporation Control Act referred to in the opening paragraph of section is classified to sections 841-869 of Title 31, Money and Finance.

Effective date.-Section as effective June 30, 1949, see note set out under section 1407 of this title.

§ 1407c. General powers; termination date.-The Corporation shall have, and may exercise, the following general powers in carrying on the activities specified in section 1407b of this title:

(a) To have succession until June 30, 1959, unless sooner dissolved by Act of Congress.

(b) To adopt, alter, and use a corporate seal, which shall be judicially noticed.

(c) To adopt, amend, and repeal bylaws governing the conduct of its business, and the performance of the powers and duties granted to or imposed upon it by law.

(d) To sue and to be sued in its corporate name.

(e) To determine the character of and the necessity for its obligations and expenditures and the manner in which they shall be incurred,

allowed, and paid, subject to the laws applicable specifically to Government corporations.

(f) To acquire, in any lawful manner, any property-real, personal, or mixed, tangible or intangible to hold, maintain, use, and operate the same; and to sell, lease, or otherwise dispose of the same, whenever any of the foregoing transactions are deemed necessary or appropriate to the conduct of the activity authorized by sections 1407-14071 of this title, and on such terms as may be prescribed by the Corporation.

(g) To enter into and perform such contracts, leases, cooperative agreements, or other transactions with any agency or instrumentality of the United States, or with any State, Territory, or possession, or with any political subdivision thereof, or with any person, firm, association, or corporation, as may be deemed necessary or appropriate to the conduct of the activities authorized by sections 1407-1407i of this title, and on such terms as may be prescribed by the Corporation: Provided, That in no case shall the Corporation contract to undertake an activity for any agency or instrumentality of the United States, or for any State, Territory, or possession, or for any political subdivision thereof, unless the latter is authorized by law to undertake such activity and furnishes the funds for such purpose.

(h) To execute all instruments necessary or appropriate in the exercise of any of its functions.

(i) To appoint, without regard to the provisions of the civil-service laws, such officers, agents, attorneys, and employees as may be necessary for the conduct of the business of the Corporation; to delegate to them such powers and to prescribe for them such duties as may be deemed appropriate by the Corporation; to fix and pay such compensation to them for their services as the Corporation may determine, without regard to the provisions of the classification laws except to the extent that these laws may be extended to the Corporation by the President of the United States; and to require bonds from such of them as the Corporation may designate, the premiums therefor to be paid by the Corporation. In the appointment of officials and the selection of employees for said Corporation, and in the promotion of any such officials or employees, no political test or qualification shall be permitted or given consideration, but all such appointments and promotions shall be given and made on the basis of merit and efficiency. Any member of said board who is found by the President of the United States or his representative to be guilty of a violation of this section shall be removed from office by the President of the United States, and any appointee of said board who is found by the board to be guilty of a violation of this section shall be removed from office by said board. Persons employed by the Corporation shall not be included in making computations pursuant to the provisions of section 947 of Title 5. The Corporation shall give due consideration to residents of the Virgin Islands in the selection and promotion of its officers and employees. (j) To use the United States mails in the same manner and under the same conditions as the executive departments of the Federal Government.

(k) To have, in the payment of debts out of bankrupt or insolvent estates, the priority of the United States.

(1) To accept gifts or donations of services, or of property-real, per

sonal, or mixed, tangible or intangible-in aid of any of the activities authorized by sections 1407-14071 of this title.

(m) To settle and adjust claims held by it against other persons or parties and by other persons or parties against the Corporation.

(n) To take such actions as may be necessary or appropriate to carry out the powers and duties herein or hereafter specifically granted to or imposed upon it. (June 30, 1949, ch. 285, § 4, 63 Stat. 352.)

Effective date.-Section as effective June 30, 1949, see note set out under section 1407 of this title.

§ 1407d. Utilization of other Federal agencies and instrumentalities. -The Corporation in carrying on the activities authorized by sections 1407-14071 of this title shall utilize, to the extent practicable, the available services and facilities of other agencies and instrumentalities of the Federal Government or of the government of the Virgin Islands; and shall not engage in any undertaking which substantially duplicates an undertaking previously initiated and currently being prosecuted within the Virgin Islands by any such agency or instrumentality. (June 30, 1949, ch. 285, § 5, 63 Stat. 353.)

Effective date.-Section as effective June 30, 1949, see note set out under section 1407 of this title.

§ 1407e. Revolving fund; total amount available; advances; appropriation for fiscal years 1950 and 1951; repayment to revolving fund.

(a) The Corporation is authorized to obtain money from the Treasury of the United States, for use in the performance of the powers and duties granted to or imposed upon it by law, not to exceed a total of $9,000,000 outstanding at any one time. For this purpose appropriations not to exceed $9,000,000 are authorized to be made to a revolving fund in the Treasury. Advances shall be made to the Corporation from the revolving fund when requested by the Corporation. Not to exceed a total of $2,750,000 shall be appropriated under any authority contained in sections 1407-1407i of this title for the period ending June 30, 1951, comprising the fiscal years 1950 and 1951.

(b) As the Corporation repays the amounts thus obtained from the Treasury, the repayments shall be made to the revolving fund. (June 30, 1949, ch. 285, § 6, 63 Stat. 353.)

Effective date.-Section as effective June 30, 1949, see note set out under section 1407 of this title.

§ 1407f. Corporate use of funds-Undertaking new or major activities outside budget program; approval by Congress of President.(a) The Corporation is authorized to use its funds, from whatever source derived, in the exercise of its corporate powers and functions: Provided, however, That the Corporation shall not undertake any new types of activities or major activities not included in the budget program submitted to the Congress pursuant to section 847 of Title 31, except when authorized by legislation enacted by the Congress after said program is submitted, or except, when the Congress is not in session, upon finding made by the Corporation and approved by the President of the United States that an emergency exists which justifies the undertaking of new types of activities authorized by sections 1407-1407i of this title, but not included in the budget program. Such findings and emergency action shall be reported to the Congress by the President, and appropriations for the expenses of such emergency action are authorized.