22 U.S.C. § 1644h — Certification of amounts; priority of payments
submitted 76 years ago by Pub. L. 94-542 to r/title-22-FOREIGN-RELATIONS-AND-INTERCOURSE · 214 words · no verdicts yet
A translation hasn’t been published for this section yet. The official text below is complete and authoritative.
The Commission* shall certify to the Secretary of the Treasury, in terms of United States currency, each award made pursuant to section 1644b of this title.
Upon certification of such award, the Secretary of the Treasury is authorized and directed, out of the sums covered into the Claims Fund, to make payments on account of such awards as follows, and in the following order of priority:
payment in full of the principal amount of each award of $1,000 or less;
payment in the amount of $1,000 on account of the principal amount of each award of more than $1,000 in principal amount;
thereafter, payments from time to time, in ratable proportions, on account of the unpaid balance of the principal amounts of all awards according to the proportions which the unpaid balance of such awards bear to the total amount in the fund available for distribution at the time such payments are made;
after payment has been made in full of the principal amounts of all awards, pro rata payments may be made on account of any interest that may be allowed on such awards;
payments or applications for payments shall be made in accordance with such regulations as the Secretary of the Treasury may prescribe.
Source credit: (Mar. 10, 1950, ch. 54, title VI, § 608, as added Pub. L. 94–542, Oct. 18, 1976, 90 Stat. 2511.)
- 1950Enacted · Pub. L. 94-542 · 90 Stat. 2511
A history note hasn’t been published yet. The record shows enactment by Pub. L. 94-542 on 1950-03-10.
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