50 U.S.C. § 4114 — Philippines
submitted 78 years ago by ch. 826 to r/title-50-WAR-AND-NATIONAL-DEFENSE · 745 words · no verdicts yet
The Commission may pay qualifying claims for losses caused by Japan’s seizure of accounts and credits in the Philippines, including certain reimbursements to banks. The section sets deadlines, payment rules, and exclusions for collaboration with hostile governments.
(a)(1) The Commission may receive, decide under law, and pay claims for Philippine accounts, deposits, or credits seized by Imperial Japan, filed by (A) an individual who (i) was in the United States military or naval forces on or after December 7, 1941; (ii) is the survivor of such a deceased individual; (iii) was a United States national on December 7, 1941 and August 31, 1954; or (iv) is the survivor of someone who was such a national on December 7, 1941 and would have been one on August 31, 1954 if living; or (B) a partnership, firm, corporation, or other legal entity whose ownership was more than 50 percent, directly or indirectly, in those individuals on both dates. (2) It may also decide and pay a claim by a Philippine bank or financial institution that reestablished such seized credits of (A) those individuals or (B) an entity more than 50 percent owned on December 7, 1941 and the reestablishment date by those individuals, for reimbursement of the amounts the bank paid. (b) Claims had to be filed within one year after August 31, 1954. (c) Payment to a person under legal disability may follow section 4104(e). After an eligible person dies, payment follows the persons and order in section 4105(d), but no payment may go to anyone who voluntarily, knowingly, and without duress aided, collaborated with, or served a hostile government during World War II. (d)(1) An allowed claim of $500 or less is paid in full. (2) A claim over $500 is paid in two installments: first, $500 plus two-thirds of the amount over $500; last, the amount computed as of September 1, 1956 from money then remaining in the Fund. If that money covers all unpaid claims, each is paid in full; otherwise each last installment is reduced in the same proportion. Each allowed claim must be certified to the Treasury Secretary for payment from the War Claims Fund under section 4110.
The Commission is authorized to receive and to determine, according to law, the amount and validity, and provide for the payment of any claim filed by—
any individual who—
on or after December 7, 1941, was a member of the military or naval forces of the United States;
is the survivor of any deceased individual described in subparagraph (i);
was a national of the United States on December 7, 1941, and is a national of the United States on August 31, 1954; or
is the survivor of any deceased individual who was a national of the United States on December 7, 1941, and would be a national of the United States on August 31, 1954, if living; or
any partnership, firm, corporation, or other legal entity, in which more than 50 per centum of the ownership was vested, directly or indirectly, both on December 7, 1941, and on August 31, 1954, in individuals referred to in subparagraph (A) of this paragraph;
for losses arising as a result of the sequestration of accounts, deposits, or other credits of such individual or legal entity in the Philippines by the Imperial Japanese Government.
The Commission is authorized to receive and to determine, according to law, the amount and validity, and provide for the payment of any claim filed by any bank or other financial institution doing business in the Philippines which reestablished sequestered accounts, deposits, or other credits of—
any individual referred to in subparagraph (A) of paragraph (1) of this subsection; or
any partnership, firm, corporation, or other legal entity, in which more than 50 per centum of the ownership was vested, directly or indirectly, both on December 7, 1941, and on the date of reestablishment of such sequestered credits, in individuals referred to in such subparagraph (A);
for reimbursement of the amounts of such sequestered credits paid by such bank or financial institution.
Claims must be filed under this section within one year after August 31, 1954.
Where any individual entitled to payment under this section is under any legal disability, payment may be made in accordance with the provisions of subsection (e) of section 4104 of this title. In the case of the death of any individual entitled to payment of any claim under this section, payment of such claim shall be made to the individuals specified, and in the order provided, in subsection (d) of section 4105 of this title; except that no payment shall be made under this section to any individual who voluntarily, knowingly, and without duress, gave aid to or collaborated with or in any manner served any government hostile to the United States during World War II.
Each claim allowed under this section shall be certified to the Secretary of the Treasury for payment out of the War Claims Fund established under section 4110 of this title. The Secretary of the Treasury shall pay such claims as follows:
In the case of each claim allowed in an amount equal to or less than $500, such claim shall be paid in full; and
In the case of each claim allowed in an amount greater than $500, such claim shall be paid in two installments. The first installment shall be paid in an amount equal to $500 plus 66⅔ per centum of the amount of such claim allowed in excess of $500. The last installment shall be computed as of September 1, 1956, under the next sentence of this paragraph, and, as so computed, shall be paid from the sums remaining in the War Claims Fund on that date. If the sums remaining in the War Claims Fund on September 1, 1956, are sufficient to satisfy all claims allowed under this section and not paid in full, the unpaid portion of each such claim shall be paid in full; if the sums remaining in the War Claims Fund on September 1, 1956, are not sufficient to satisfy all claims allowed under this section and not paid in full, the last installment payable on each such claim shall be reduced ratably, and, as so reduced, shall be paid from the War Claims Fund.
Source credit: (July 3, 1948, ch. 826, title I, § 17, as added Aug. 31, 1954, ch. 1162, title I, § 103, 68 Stat. 1035; amended Pub. L. 87–846, title I, § 102, Oct. 22, 1962, 76 Stat. 1107.)
- 1948Enacted · Act of July 3, 1948, ch. 826 · 68 Stat. 1035
- 1962Amended · Pub. L. 87-846 · 76 Stat. 1107
A history note hasn’t been published yet. The record shows enactment by ch. 826 on 1948-07-03.
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