22 U.S.C. § 1631l — Determination of expenses and time for filing suit, notice of claim and debt claim
submitted 76 years ago by ch. 54 to r/title-22-FOREIGN-RELATIONS-AND-INTERCOURSE · 169 words · no verdicts yet
Before depositing liquidation proceeds in the Treasury, the designee must determine amounts to retain for administration, preservation, maintenance, and taxes and must determine that relevant deadlines have passed. Those determinations are final.
Before depositing liquidation proceeds in the Treasury under section 1631a(a), the designee must determine (1) administrative expenses attributable to work on the property and proceeds, plus no more than amounts spent for their conservation, preservation, maintenance, and taxes; those amounts may be deducted and retained; and (2) that the periods for a section 1631f(a) suit, section 1631f(b) notice, and section 1631g debt claim have ended. The determinations are final and conclusive.
Prior to covering the net proceeds of liquidation of any property into the Treasury pursuant to section 1631a(a) of this title, the designee of the President under this subchapter shall determine—
the amount of his administrative expenses attributable to the performance of his functions under this subchapter with respect to such property and the proceeds thereof. The amount so determined, together with an amount not exceeding that expended or incurred for the conservation, preservation, or maintenance of such property and the proceeds thereof, and for taxes in respect of same, shall be deducted and retained by the designee from the proceeds otherwise covered into the Treasury; and
that the time for the institution of a suit under section 1631f(a) of this title, for the filing of a notice of claim under section 1631f(b) of this title, and for the filing of debt claims under section 1631g of this title has elapsed.
The determinations of the designee under this section shall be final and conclusive.
Source credit: (Mar. 10, 1950, ch. 54, title II, § 213, as added Aug. 9, 1955, ch. 645, § 3, 69 Stat. 570.)
- 1950Enacted · Act of Mar. 10, 1950, ch. 54 · 69 Stat. 570
A history note hasn’t been published yet. The record shows enactment by ch. 54 on 1950-03-10.
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