Section 2
SEC. 2. Mindanao Development Authority Created.&mdashThere is hereby created a body corporate to be known as the Mindanao Development Authority, hereinafter referred to as the Authority, which shall be organized within sixty days after the approval of this Act. The Authority shall execute the powers and functions herein vested and conferred upon it in such manner as will, in its judgment, aid to the fullest possible extent in carrying out the aims and purposes set forth below. This Act may be cited as the Mindanao Development Authority Act of 1961.