(a) Establishment.— There is a revolving fund in the Treasury known as “the fund for the payment of Government losses in shipment”.
(b) Use.— The fund shall be used for the replacement of valuables, or the value of valuables, lost, destroyed, or damaged while being shipped in accordance with regulations prescribed under section
17302 of this title.
(c) Unavailability.— The fund is not available with respect to any loss, destruction, or damage affecting valuables—
(1)that relates to property of the United States Postal Service that is chargeable to its officers or employees; or
(2)of which shipment shall have been made at the risk of persons other than the Federal Government and the executive departments, independent establishments, agencies, wholly owned Government corporations, officers and employees of the Government.
(d) Crediting of Recoveries and Repayments.— All recoveries and repayments on account of loss, destruction, or damage to valuables for which replacement is made out of the fund shall be credited to it and are available for the purposes of the fund.
(e) Appropriations.— Necessary amounts are appropriated for the fund.
July 8, 1937, ch. 444, § 3 (2d sentence 2d, last provisos, last sentence), 50 Stat. 480; Aug. 10, 1939, ch. 665, § 1, 53 Stat. 1358; Pub. L. 91–375, § 6(m)(4), Aug. 12, 1970, 84 Stat. 782.
40:723 (2d sentence last proviso).
40:723 (last sentence).
40:722 (1st sentence words before 5th comma, 2d sentence, 3d sentence words after 2d comma, last sentence).
Pub. L. 103–329, title I (par. under heading “Payment of Government Losses in Shipment”), Sept. 30, 1994, 108 Stat. 2387.
In subsection (a), the words “(hereinafter referred to as ‘the fund’)” are omitted as unnecessary.
In subsection (b), the text of 40:723 (2d sentence 2d proviso) is omitted as obsolete.
In subsection (e), the text of 40:722 (1st sentence words before 5th comma, 2d sentence, 3d sentence words after 2d comma, and last sentence) and the words “Beginning in fiscal year 1995 and thereafter” in 40:722a are omitted as obsolete. The words “for the fund” are substituted for “to make payments for the replacement of valuables, or the value thereof, lost, destroyed, or damaged in the course of shipments effected pursuant to section
721 of this title” for clarity and to eliminate unnecessary words.
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.
Description of Change
Statutes at Large
LII has no control over and does not endorse any external Internet site that contains links to or references LII.