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10 U.S.C. § 3803Security for advance payments

submitted 5 years ago by Pub. L. 116-283 to r/title-10-ARMED-FORCES · 118 words · no verdicts yet

in plain englishAI-generated · not legal advice

A translation hasn’t been published for this section yet. The official text below is complete and authoritative.

the actual law source: uscode.house.gov ↗public domain

Advance payments made under section 3801 of this title may be made only if the contractor gives adequate security and after a determination by the head of the agency that to do so would be in the public interest. Such security may be in the form of a lien in favor of the United States on the property contracted for, on the balance in an account in which such payments are deposited, and on such of the property acquired for performance of the contract as the parties may agree. This lien is paramount to any other liens and is effective immediately upon the first advancement of funds without filing, notice, or any other action by the United States.

Source credit: (Added and amended Pub. L. 116–283, div. A, title XVIII, § 1834(a), (d), Jan. 1, 2021, 134 Stat. 4234, 4236.)

history & why it existsrecord from the source credit
  • 2021Enacted · Pub. L. 116-283 · 134 Stat. 4234, 4236

A history note hasn’t been published yet. The record shows enactment by Pub. L. 116-283 on 2021-01-01.

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