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16 U.S.C. § 742kManagement and disposition of vessels and other property acquired and arising out of fishery loans or related type of activities

submitted 65 years ago by Pub. L. 87-219 to r/title-16-CONSERVATION · 140 words · no verdicts yet

in plain englishAI-generated · not legal advice

The Interior Secretary may manage, repair, operate, charter, assign, or sell vessels, plants, and other property acquired through fishery loans or related activities, using applicable funds and terms most favorable to the United States.

To administer and protect the Government’s interest in the fishery loan fund and related fisheries activities for which Interior is or becomes responsible, the Interior Secretary may, despite other law, administer, complete, recondition, reconstruct, renovate, repair, maintain, operate, charter, assign, or sell on terms most favorable to the United States any vessel, plant, or other property acquired for the United States through a fishery loan or related activity. The Secretary may use applicable funds for each such purpose.
the actual law source: uscode.house.gov ↗public domain

For the purpose of facilitating administration of, and protecting the interest of the Government in, the fishery loan fund established by section 742c of this title and any related type of activities relating to fisheries for which the Department of the Interior is now or may hereafter be responsible, the Secretary of the Interior, notwithstanding any other provisions of law, may hereafter administer, complete, recondition, reconstruct, renovate, repair, maintain, operate, charter, assign, or sell upon such terms and conditions as he may deem most advantageous to the United States, any vessel, plant, or other property acquired by him on behalf of the United States and arising out of any fishery loan or any related type of activity by the Secretary of the Interior. The Secretary may use any of the applicable funds in each particular instance for the aforesaid purposes.

Source credit: (Pub. L. 87–219, Sept. 13, 1961, 75 Stat. 493.)

history & why it existsrecord from the source credit
  • 1961Enacted · Pub. L. 87-219 · 75 Stat. 493

A history note hasn’t been published yet. The record shows enactment by Pub. L. 87-219 on 1961-09-13.

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