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40 U.S.C. § 17303 — Fund for the payment of Government losses in shipment

submitted 24 years ago by Pub. L. 107-217 to r/title-40-PUBLIC-BUILDINGS-PROPERTY-AND-WORKS · 186 words · no verdicts yet

in plain englishAI-generated · not legal advice

This section creates a Treasury revolving fund to replace valuables lost, destroyed, or damaged during regulated shipments. It excludes specified Postal Service losses and shipments made at another person’s risk, and credits recoveries back to the fund.

(a) Establishment. The Treasury has a revolving fund called the “fund for the payment of Government losses in shipment.” (b) Use. The fund pays to replace valuables, or their value, that are lost, destroyed, or damaged while shipped under regulations issued under section 17302. (c) Unavailability. The fund cannot pay for loss, destruction, or damage involving (1) United States Postal Service property chargeable to its officers or employees, or (2) valuables shipped at the risk of someone other than the Federal Government, the executive departments, independent establishments, agencies, wholly owned Government corporations, officers, and employees of the Government. (d) Recoveries and repayments. Money recovered or repaid because of a loss for which the fund paid replacement must be credited to the fund and remains available for its purposes. (e) Appropriations. The necessary amounts are appropriated to the fund.

the actual law source: uscode.house.gov ↗public domain
(a)Establishment.—

There is a revolving fund in the Treasury known as “the fund for the payment of Government losses in shipment”.

(b)Use.—

The fund shall be used for the replacement of valuables, or the value of valuables, lost, destroyed, or damaged while being shipped in accordance with regulations prescribed under section 17302 of this title.

(c)Unavailability.—

The fund is not available with respect to any loss, destruction, or damage affecting valuables—

(1)

that relates to property of the United States Postal Service that is chargeable to its officers or employees; or

(2)

of which shipment shall have been made at the risk of persons other than the Federal Government and the executive departments, independent establishments, agencies, wholly owned Government corporations, officers and employees of the Government.

(d)Crediting of Recoveries and Repayments.—

All recoveries and repayments on account of loss, destruction, or damage to valuables for which replacement is made out of the fund shall be credited to it and are available for the purposes of the fund.

(e)Appropriations.—

Necessary amounts are appropriated for the fund.

Source credit: (Pub. L. 107–217, Aug. 21, 2002, 116 Stat. 1281.)

history & why it existsrecord from the source credit
  • 2002Enacted · Pub. L. 107-217 · 116 Stat. 1281

A history note hasn’t been published yet. The record shows enactment by Pub. L. 107-217 on 2002-08-21.

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