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10 U.S.C. § 8735 — Foreign interest

submitted 70 years ago by ch. 1041 to r/title-10-ARMED-FORCES · 122 words · no verdicts yet

in plain englishAI-generated · not legal advice

If a foreign country won't let U.S. citizens lease its public land, that country's citizens and their companies can't get any interest in naval petroleum or oil shale reserve leases. This applies to contracts made after July 1937 or through stock control. The Secretary may cancel any lease that breaks this rule.

(a) Suppose a foreign country's laws, customs, or regulations deny United States citizens or corporations the right to lease that country's public lands. Then citizens of that foreign country, or corporations controlled by its citizens, cannot get any interest in, or right to benefit from, a lease of land in the naval petroleum, naval oil shale, or other naval fuel reserves. This applies to leases made under the listed sections of title 30 or under this chapter, and it applies whether the interest comes from a contract made after July 1, 1937, or from owning, holding, or controlling stock. (b) The Secretary may cancel any lease if this rule is violated.
the actual law source: uscode.house.gov ↗public domain
(a)

If the laws, customs, or regulations of any foreign country deny the privilege of leasing public lands to citizens or corporations of the United States, citizens of that foreign country, or corporations controlled by citizens of that country, may not, by contract made after July 1, 1937, or by stock ownership, holding, or control, acquire or own any interest in, or right to any benefit from, any lease of land in the naval petroleum, naval oil shale, or other naval fuel reserves made under sections 181–184, 185–188, 189–194, 201, 202–209, 211–214, 223, 224–226, 226d, 226e, 227–229a, 241, 251, and 261–263 of title 30, or under this chapter.

(b)

The Secretary may cancel any lease for any violation of this section.

Source credit: (Aug. 10, 1956, ch. 1041, 70A Stat. 461, § 7435; Pub. L. 87–796, § 1(11), Oct. 11, 1962, 76 Stat. 906; Pub. L. 94–258, title II, § 201(17), Apr. 5, 1976, 90 Stat. 313; renumbered § 8735, Pub. L. 115–232, div. A, title VIII, § 807(d)(5), Aug. 13, 2018, 132 Stat. 1836.)

history & why it existsrecord from the source credit
  • 1956Enacted · Act of Aug. 10, 1956, ch. 1041
  • 1962Amended · Pub. L. 87-796 · 76 Stat. 906
  • 1976Amended · Pub. L. 94-258 · 90 Stat. 313
  • 2018Amended · Pub. L. 115-232 · 132 Stat. 1836

A history note hasn’t been published yet. The record shows enactment by ch. 1041 on 1956-08-10.

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