50a U.S. Code Rule - Divestment of estates, trusts, insurance policies, annuities, remainders, pensions, workmen’s compensation and veterans’ benefits; exceptions; notice of divestment

(a) Subject to the provisions of subsection (b) hereof [of this section], all rights and interests of individuals in estates, trusts, insurance policies, annuities, remainders, pensions, workmen’s compensation and veterans’ benefits vested under this Act [sections 1 to 6, 7 to 39, and 41 to 44 of this Appendix] after December 17, 1941, which have not become payable or deliverable to or have not vested in possession in the Attorney General prior to December 31, 1961, are divested: Provided, That the provisions of this section shall not affect the right of the Attorney General to retain all such property rights and interests and to collect all income which is payable to or vested in possession in him prior to December 31, 1961.
(b) Nothing contained in this section shall divest or require the divestment of any portion of any such interest the beneficial owner of which is a natural person who has been convicted personally and by name by a court of competent jurisdiction of murder, ill treatment, or deportation for slave labor of prisoners of war, political opponents, hostages, or civilian population in occupied territories, or of murder or ill treatment of military or naval persons, or of plunder or wanton destruction without justified military necessity.
(c) At the earliest practicable time after the effective date of this Act, the Attorney General shall transmit to the lawful owner or custodian of any interest divested by this section written notice of such divestment.

Source

(Oct. 6, 1917, ch. 106, § 40, as added Pub. L. 87–846, title II, § 205,Oct. 22, 1962, 76 Stat. 1115.)
References in Text

Effective date of this Act, referred to in subsec. (c), probably means the effective date of Pub. L. 87–846, which was approved Oct. 22, 1962, which added this section.

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19 CFR - Customs Duties

19 CFR Part 161 - GENERAL ENFORCEMENT PROVISIONS

31 CFR - Money and Finance: Treasury

31 CFR Part 501 - REPORTING, PROCEDURES AND PENALTIES REGULATIONS

31 CFR Part 515 - CUBAN ASSETS CONTROL REGULATIONS

 

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