Public Law 79–215

That, notwithstanding any other provision of law, all functions, powers, duties, and authority of the corporations hereinafter designated, are hereby transferred, together with all their documents, books of account, records, assets, and liabilities of every kind and nature, to Reconstruction Finance Corporation and shall be performed, exercised, and administered by that Corporation in the same manner and to the same extent and effect as if originally vested in Reconstruction Finance Corporation,

Corporations dissolved.

and the designated corporations are hereby dissolved: Defense Plant Corporation, Metals Reserve Company, Rubber Reserve Company,

54 Stat. 573.

and Defense Supplies Corporation, created by Reconstruction

15 U. S. C. § 606b; Supp. IV, § 606b.

Finance Corporation pursuant to the Act of June 25, 1940 (54 Stat.

15 U. S. C. § 605k–1; Supp. IV, § 605k–1.

572), and Disaster Loan Corporation, created by the Act of February 11, 1937 (50 Stat. 19), are hereby designated as the corporations to which this joint resolution applies.

Sec. 2.

Liabilities of dissolved corporations.

The Reconstruction Finance Corporation shall assume and be subject to all liabilities, whether arising out of contract or otherwise,

Legal proceedings.

of the corporations dissolved by this joint resolution. No suit, action, or other proceeding lawfully commenced by or against any of such corporations shall abate by reason of the enactment of this joint resolution, but the court, on motion or supplemental petition filed at any time within twelve months after the date of such enactment, showing a necessity for the survival of such suit, action, or other proceeding to obtain a determination of the questions involved, may allow the same to be maintained by or against the Reconstruction Finance Corporation.

Sec. 3.

This joint resolution shall take effect on July 1, 1945.