22 U.S.C. § 1641j — Claims by corporations or other legal entities
submitted 76 years ago by ch. 54 to r/title-22-FOREIGN-RELATIONS-AND-INTERCOURSE · 216 words · no verdicts yet
This section sets rules for claims involving corporations and other legal entities. It prevents duplicate awards and provides ownership rules for entities that were not United States nationals.
(a) If a corporation or other legal entity has a claim on which an award can be made under this subchapter, no award can be made to any other person under this subchapter with respect to such claim. (b) A claim based upon an interest, direct or indirect, in a corporation or other legal entity which directly suffered the loss with respect to which the claim is asserted, but which was not a national of the United States at the time of the loss, must be acted upon without regard to the nationality of such legal entity if at the time of the loss at least 25 percent of the outstanding capital stock or other beneficial interest in such entity was owned, directly or indirectly, by natural persons who were nationals of the United States. This subsection must not be construed so as to exclude from eligibility a claim based upon a direct ownership interest in a corporation, association, or other entity, or the property of it, for loss by reason of the nationalization, compulsory liquidation, or other taking of such corporation, association, or other entity by the Governments of Bulgaria, Hungary, Italy, Rumania, or the Soviet Government. Any such claim can be allowed without regard to the percent of ownership vested in the claimant.
If a corporation or other legal entity has a claim on which an award may be made under this subchapter, no award may be made to any other person under this subchapter with respect to such claim.
A claim based upon an interest, direct or indirect, in a corporation or other legal entity which directly suffered the loss with respect to which the claim is asserted, but which was not a national of the United States at the time of the loss, shall be acted upon without regard to the nationality of such legal entity if at the time of the loss at least 25 per centum of the outstanding capital stock or other beneficial interest in such entity was owned, directly or indirectly, by natural persons who were nationals of the United States. This subsection shall not be construed so as to exclude from eligibility a claim based upon a direct ownership interest in a corporation, association, or other entity, or the property thereof, for loss by reason of the nationalization, compulsory liquidation, or other taking of such corporation, association, or other entity by the Governments of Bulgaria, Hungary, Italy, Rumania, or the Soviet Government. Any such claim may be allowed without regard to the per centum of ownership vested in the claimant.
Source credit: (Mar. 10, 1950, ch. 54, title III, § 311, as added Aug. 9, 1955, ch. 645, § 3, 69 Stat. 573; amended Pub. L. 85–604, § 3(a), Aug. 8, 1958, 72 Stat. 531.)
- 1950Enacted · Act of Mar. 10, 1950, ch. 54 · 69 Stat. 573
- 1958Amended · Pub. L. 85-604 · 72 Stat. 531
A history note hasn’t been published yet. The record shows enactment by ch. 54 on 1950-03-10.
all 0 arguments · sorted by: best
no arguments yet — make the first case