(a) Permissible uses of cash payments under sections
Cash payments received under sections
2769 of this title and advances received under section
2763 of this title shall be available solely for payments to suppliers (including the military departments) and refunds to purchasers and shall not be available for financing credits and guaranties.
(b) Transfer of funds to miscellaneous receipts of Treasury
Amounts received from foreign governments and international organizations as repayments for credits extended pursuant to section
2763 of this title, amounts received from the disposition of instruments evidencing indebtedness under section
2764(b) of this title (excluding such portion of the sales proceeds as may be required at the time of disposition to be obligated as a reserve for payment of claims under guaranties issued pursuant to section
2764(b) of this title, which sums are made available for such obligations), and other collections (including fees and interest) shall be transferred to the miscellaneous receipts of the Treasury.
(c) Credit of funds to reserve under section
Notwithstanding the provisions of subsection (b) of this section, to the extent that any of the funds constituting the reserve under section
2764(c) of this title are paid out for a claim arising out of a loan guaranteed under section
2764 of this title, amounts received from a foreign government or international organization after the date of such payment, with respect to such claim, shall be credited to such reserve, shall be merged with the funds in such reserve, and shall be available for any purpose for which funds in such reserve are available.
1973—Subsec. (b). Pub. L. 93–189inserted provisions relating to indebtedness under section
2764(b) of this title and exclusions of portions of the sales proceeds required at the time of disposition as a reserve for payment of claims under guaranties issued under section
2764(b) 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
An empty table indicates that we see no relevant changes listed in the classification tables. If you suspect that our system may be missing something, please double-check with the Office of the Law Revision Counsel.