12 U.S.C. § 1748d — Lease of property; terms and conditions
submitted 92 years ago by ch. 847 to r/title-12-BANKS-AND-BANKING · 88 words · no verdicts yet
The Secretary of the Army, Navy, or Air Force may lease United States land on or near a military installation when the Secretary decides the lease is needed for this subchapter’s purposes. The lease must have terms the Secretary believes best serve the national interest, and this authority adds to other authority.
When the Secretary of the Army, Navy, or Air Force decides that leasing United States land on or near a military* installation is necessary to carry out this subchapter, the Secretary may lease it on terms and conditions the Secretary believes best serve the national interest. This authority is additional to, and does not reduce, any other power or authority of that Secretary.
Whenever the Secretary of the Army, Navy, or Air Force determines that it is necessary to lease any land held by the United States on or near a military* installation to effectuate the purposes of this subchapter, he may lease such land upon such terms and conditions as will, in his opinion, best serve the national interest. The authority conferred by this section shall be in addition to and not in derogation of any other power or authority of the Secretary of the Army, Navy, or Air Force.
Source credit: (June 27, 1934, ch. 847, title VIII, § 805, as added Aug. 8, 1949, ch. 403, § 1, 63 Stat. 576; amended Aug. 11, 1955, ch. 783, title IV, § 401, 69 Stat. 651.)
- 1934Enacted · Act of June 27, 1934, ch. 847 · 63 Stat. 576
- 1955Amended · Act of Aug. 11, 1955, ch. 783 · 69 Stat. 651
A history note hasn’t been published yet. The record shows enactment by ch. 847 on 1934-06-27.
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