Prior to covering the net proceeds of liquidation of any property into the Treasury pursuant to section
1631a(a) of this title, the designee of the President under this subchapter shall determine—
(1)the amount of his administrative expenses attributable to the performance of his functions under this subchapter with respect to such property and the proceeds thereof. The amount so determined, together with an amount not exceeding that expended or incurred for the conservation, preservation, or maintenance of such property and the proceeds thereof, and for taxes in respect of same, shall be deducted and retained by the designee from the proceeds otherwise covered into the Treasury; and
(2)that the time for the institution of a suit under section
1631f(a) of this title, for the filing of a notice of claim under section
1631f(b) of this title, and for the filing of debt claims under section
1631g of this title has elapsed.
The determinations of the designee under this section shall be final and conclusive.
(Mar. 10, 1950, ch. 54, title II, § 213, as added Aug. 9, 1955, ch. 645, § 3,69 Stat. 570.)
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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Description of Change
Statutes at Large
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