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10 U.S.C. § 8864 — Delivery of property on stipulation

submitted 70 years ago by ch. 1041 to r/title-10-ARMED-FORCES · 136 words · no verdicts yet

in plain englishAI-generated · not legal advice

This section allows prize property to be delivered to a claimant when the claimant provides the required showing and security. It also directs how related money must be deposited.

(a) Prize property may be delivered to a claimant on stipulation, deposit, or other security, if— (1) the claimant satisfies the court that the property has a peculiar and intrinsic value to him, independent of its market value; (2) the court is satisfied that the rights and interests of the United States or of other claimants will not be prejudiced; (3) an opportunity is given to the United States attorney and the naval prize commissioner or the naval special prize commissioner to be heard as to the appointment of appraisers; and (4) a satisfactory appraisal is made. (b) Money collected on a stipulation, or deposited instead of it, that does not represent costs must be deposited with the Treasurer of the United States or a public depositary in the same manner as proceeds of a sale.

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

Prize property may be delivered to a claimant on stipulation, deposit, or other security, if—

(1)

the claimant satisfies the court that the property has a peculiar and intrinsic value to him, independent of its market value;

(2)

the court is satisfied that the rights and interests of the United States or of other claimants will not be prejudiced;

(3)

an opportunity is given to the United States attorney and the naval prize commissioner or the naval special prize commissioner to be heard as to the appointment of appraisers; and

(4)

a satisfactory appraisal is made.

(b)

Money collected on a stipulation, or deposited instead of it, that does not represent costs shall be deposited with the Treasurer of the United States or a public depositary in the same manner as proceeds of a sale.

Source credit: (Aug. 10, 1956, ch. 1041, 70A Stat. 479, § 7664; renumbered § 8864, Pub. L. 115–232, div. A, title VIII, § 807(d)(9), Aug. 13, 2018, 132 Stat. 1837.)

history & why it existsrecord from the source credit
  • 1956Enacted · Act of Aug. 10, 1956, ch. 1041
  • 2018Amended · Pub. L. 115-232 · 132 Stat. 1837

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

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