The right to alter, amend, or repeal this chapter is expressly reserved; but no such alteration, amendment, or repeal shall affect any license theretofore issued under the provisions of this chapter or the rights of any licensee thereunder.
(June 10, 1920, ch. 285, pt. I, §28, 41 Stat. 1077; renumbered pt. I, Aug. 26, 1935, ch. 687, title II, §212, 49 Stat. 847.)