10 U.S. Code § 2345 - Liquidation of accrued credits and liabilities

(a) Credits and liabilities of the United States accrued as a result of acquisitions and transfers of logistic support, supplies, and services under the authority of this subchapter shall be liquidated not less often than once every 12 months by direct payment to the entity supplying such support, supplies, or services by the entity receiving such support, supplies, or services.
(b) Payment-in-kind or exchange entitlements accrued as a result of acquisitions and transfers of logistic support, supplies, and services under authority of this subchapter shall be satisfied within 12 months after the date of the delivery of the logistic support, supplies, or services.

Source

(Added Pub. L. 96–323, § 2(a),Aug. 4, 1980, 94 Stat. 1018, § 2325; renumbered § 2345,Pub. L. 99–145, title XIII, § 1304(a)(1),Nov. 8, 1985, 99 Stat. 741; amended Pub. L. 99–661, div. A, title XI, § 1104(c),Nov. 14, 1986, 100 Stat. 3965; Pub. L. 101–189, div. A, title IX, § 931(e)(1),Nov. 29, 1989, 103 Stat. 1535; Pub. L. 103–337, div. A, title XIII, § 1317(e),Oct. 5, 1994, 108 Stat. 2900.)
Amendments

1994—Subsec. (a). Pub. L. 103–337substituted “12 months” for “three months”.
1989—Subsecs. (a), (b). Pub. L. 101–189substituted “this subchapter” for “this chapter”.
1986—Pub. L. 99–661designated existing provisions as subsec. (a) and added subsec. (b).
1985—Pub. L. 99–145renumbered section 2325 of this title as this section.
Effective Date of 1994 Amendment

Amendment by Pub. L. 103–337applicable with regard to any acquisition or transfer of logistic support, supplies, and services under authority of this subchapter that is initiated after Oct. 5, 1994, see section 1317(j) ofPub. L. 103–337, set out as a note under section 2341 of this title.

The table below lists the classification updates, since Jan. 3, 2012, for this section. Updates to a broader range of sections may be found at the update page for containing chapter, title, etc.

The most recent Classification Table update that we have noticed was Tuesday, August 13, 2013

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10 USCDescription of ChangeSession YearPublic LawStatutes at Large

 

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