38 U.S.C. § 8522 — Sale of assets accruing to the Fund
submitted 68 years ago by Pub. L. 85-857 to r/title-38-VETERANS-BENEFITS · 279 words · no verdicts yet
The Secretary may sell non-money assets from the Fund, like jewelry, following set rules. Sale proceeds, minus expenses, go to the Fund's account at the Treasury. Sentimental keepsakes are kept for five years before being sold or destroyed.
Assets that come to the Fund — other than money, but including jewelry and other personal items — may be sold, at whatever time, place, and manner the Secretary* sets by regulation. After receiving the purchase price, the Secretary may hand over the sold property and, if asked, sign and deliver paperwork transferring it in the United States' name, passing along whatever ownership the decedent had at death. Net proceeds, after paying proper sale costs the Secretary decides, must go to the U.S. Treasurer for the Fund, and can be spent like any other money in the Fund by the Treasury Department's Division of Disbursements, on the Secretary's order.
Items that are clearly of sentimental value must be kept — not sold or otherwise disposed of — for five years from the veteran's death, unless no one claims them and it's unsafe or unsanitary to keep them, in which case they may be destroyed right away. Other items the Secretary decides, by regulation, are unsellable may be destroyed right away or at a time set by regulation, or used for purposes the Fund could properly pay for, or otherwise disposed of under regulations if they can't be used.
Any assets heretofore or hereafter accruing to the benefit of the Fund, other than money, but including jewelry and other personal effects, may be sold at the times and places and in the manner prescribed by regulations issued by the Secretary*. Upon receipt of the purchase price the Secretary is authorized to deliver at the place of sale, said property sold, and upon request to execute and deliver appropriate assignments or other conveyances thereof in the name of the United States, which shall pass to the purchaser such title as decedent had at date of death. The net proceeds after paying any proper sales expense as determined by the Secretary shall forthwith be paid to the Treasurer of the United States to the credit of the Fund; and may be disbursed as are other moneys in the Fund by the Division of Disbursements, Treasury Department*, upon order of said Secretary. Articles of personal adornment which are obviously of sentimental value, shall be retained and not sold or otherwise disposed of until the expiration of five years from the date of death of the veteran*, without a claim therefor, unless for sanitary or other proper reasons it is deemed unsafe to retain same, in which event they may be destroyed forthwith. Any other articles coming into possession of the Secretary or the Secretary’s representative by virtue of this subchapter which, under regulations promulgated by the Secretary, are determined to be unsalable may be destroyed forthwith or at the time prescribed by regulations, or may be used for the purposes for which disbursements might properly be made from the Fund, or if not usable, otherwise disposed of in accordance with regulations.
Source credit: (Pub. L. 85–857, Sept. 2, 1958, 72 Stat. 1260, § 5222; Pub. L. 99–576, title VII, § 701(101), Oct. 28, 1986, 100 Stat. 3300; renumbered § 8522, Pub. L. 102–40, title IV, § 402(b)(1), May 7, 1991, 105 Stat. 238; Pub. L. 102–83, § 4(b)(1), (2)(E), Aug. 6, 1991, 105 Stat. 404, 405.)
- 1958Enacted · Pub. L. 85-857 · 72 Stat. 1260
- 1986Amended · Pub. L. 99-576 · 100 Stat. 3300
- 1991Amended · Pub. L. 102-40 · 105 Stat. 238
- 1991Amended · Pub. L. 102-83 · 105 Stat. 404, 405
A history note hasn’t been published yet. The record shows enactment by Pub. L. 85-857 on 1958-09-02.
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