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43 U.S.C. § 401 — Amounts collected from defaulting contractors and their sureties

submitted 96 years ago by ch. 410 to r/title-43-PUBLIC-LANDS · 62 words · no verdicts yet

in plain englishAI-generated · not legal advice

Money collected from contractors who default, or from their sureties, under reclamation-law contracts goes into the reclamation fund. This includes money already collected, whether paid in cash or deducted from money owed to the contractor. The funds are credited to the specific project the contract was for.

This section covers money collected from a contractor who defaulted on a contract, or from that contractor's surety (the company that guaranteed the contract), when the contract was made under the reclamation law. This includes amounts already collected before this section, whether the money was paid in cash or deducted from amounts the government otherwise owed the contractor. All of this money must be paid into the reclamation fund. It is credited to the specific project or operation the original contract was made for.
the actual law source: uscode.house.gov ↗public domain

Any amounts collected from defaulting contractors or their sureties, including collections heretofore made, in connection with contracts entered into under the reclamation law, either collected in cash or by deduction from amounts otherwise due such contractors, shall be covered into the reclamation fund and shall be credited to the project or operation for or on account of which such contract was made.

Source credit: (June 6, 1930, ch. 410, 46 Stat. 522.)

history & why it existsrecord from the source credit
  • 1930Enacted · Act of June 6, 1930, ch. 410 · 46 Stat. 522

A history note hasn’t been published yet. The record shows enactment by ch. 410 on 1930-06-06.

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