1995 US Code
Title 36 - PATRIOTIC SOCIETIES AND OBSERVANCES
CHAPTER 22 - PERSHING HALL MEMORIAL FUND
Sec. 491 - Creation of fund; investments; payments to American Legion

Any balance remaining from the sum of 2,032.92 authorized to be appropriated, by the Secretary of the Treasury, by section 1 of the Act approved June 28, 1935, chapter 323, 49 Stat. 426, for effecting a settlement of any indebtedness connected with Pershing Hall, a memorial already erected in Paris, France, under the auspices of the American Legion, Inc., to the commander in chief, officers, men and auxiliary services of the American Expeditionary Forces, to the end that such memorial as so freed from debt may be perpetuated, shall, after settlement of such indebtedness, be retained by the Secretary of the Treasury as a special fund to be known as the “Pershing Hall Memorial Fund.” The Secretary of the Treasury is authorized (a) to invest and reinvest any part or all of the corpus of this fund so remaining in interest-bearing United States Government bonds and retain custody thereof; and (b) upon request of the American Legion, Inc., the Secretary of the Treasury shall pay to the National Treasurer of the American Legion, Inc., from time to time any part of the earnings upon the fund for use in the maintenance and/or perpetuation of Pershing Hall.

(June 28, 1935, ch. 323, §2, 49 Stat. 426.)

Section 1 of act June 28, 1935, ch. 323, 49 Stat. 426, referred to in text, provided: “That 2,032.92 of the fund entitled ‘Recreation fund—Army’, created by the War Department Appropriation Act, approved March 4, 1933 [see 47 Stat. 1573], is hereby authorized to be appropriated by the Secretary of the Treasury for effecting a settlement of any indebtedness connected with Pershing Hall, a memorial already erected in Paris, France, under the auspices of the American Legion, Inc., to the commander in chief, officers, men and auxiliary services of the American Expeditionary Forces, to the end that such memorial as so freed from debt may be perpetuated: Provided, That the amount herein provided shall not be used for the purposes indicated herein, until the legal title to said property shall have been vested in the Government of the United States for the use and benefit of all American officers and enlisted men of the World War [World War I].”

In the original, section 2 of act June 28, 1935, read “Any balance remaining after settlement of such indebtedness shall be retained”, etc. The descriptive language substituted largely therefor, at the beginning of this section, was taken from section 1 of that act, referred to in that descriptive language and set out above.

Act Aug. 12, 1935, ch. 508, title I, §1 (part), 49 Stat. 594, appropriated the sum of 2,032.92 for the purposes of this section and of section 1 of act June 28, 1935, set out above, subject to the conditions set out in the proviso in section 1 of act June 28, 1935.

The Pershing Hall Memorial Fund, established pursuant to this section, was abolished and the corpus and accrued interest was transferred to the Pershing Hall Revolving Fund. See section 493(d)(3) of this title.

This section is referred to in section 493 of this title.