22-U.S.C.-2423
§2423 – Exchanges of Certain Materials
Pathway
Title 22 > Chapter 32 > Subchapter III > Part III > Section 2423
Details
- Reference: Section 2423
- Legend: §2423 – Exchanges of Certain Materials
- USCode Year: 2013
Provision Content
(a) Agreement for necessary or strategic raw material; definition
Notwithstanding any other provision of law, whenever the President determines it is in the United States national interest, he shall furnish assistance under this chapter or shall furnish defense articles or services under the Foreign Military Sales Act [22 U.S.C. 2751 et. seq.], pursuant to an agreement with the recipient of such assistance, articles, or services which provides that such recipient may only obtain such assistance, articles, or services in exchange for any necessary or strategic raw material controlled by such recipient. For the purposes of this section, the term necessary or strategic raw material includes petroleum, other fossil fuels, metals, minerals, or any other natural substance which the President determines is in short supply in the United States.
(b) Allocation of raw materials to Federal agencies
The President shall allocate any necessary or strategic raw material transferred to the United States under this section to any appropriate agency of the United States Government for stockpiling, sale, transfer, disposal, or any other purpose authorized by law.
(c) Deposits in United States Treasury of funds from disposal of materials
Funds received from any disposal of materials under subsection (b) of this section shall be deposited as miscellaneous receipts in the United States Treasury.
(Pub. L. 87–195, pt. III, §663, as added Pub. L. 93–559, §32, Dec. 30, 1974, 88 Stat. 1805.)
References in Text
This chapter, referred to in subsec. (a), was in the original this Act, meaning Pub. L. 87–195, Sept. 4, 1961, 75 Stat. 424, as amended, known as the Foreign Assistance Act of 1961. For complete classification of this Act to the Code, see Short Title note set out under section 2151 of this title and Tables.
The Foreign Military Sales Act, referred to in subsec. (a), is Pub. L. 90–629, ch. 1, Oct. 22, 1968, 82 Stat. 1320, as amended, known as the Arms Export Control Act, on authority of section 201(b) of Pub. L. 94–329, title II, June 30, 1976, 90 Stat. 734, and is classified principally to chapter 39 (§2751 et seq.) of this title. For complete classification of this Act to the Code, see Short Title note set out under section 2751 of this title and Tables.
Delegation of Functions
For delegation of functions of President under this section, see Ex. Ord. No. 12163, Sept. 29, 1979, 44 F.R. 56673, as amended, set out as a note under section 2381 of this title.
U.S. Encyclopedia of Law Coverage
22-U.S.C.-2410 in the Legal Encyclopedia: Foreign Relations
In this entry about 22-U.S.C.-2410, find legal reference material, bibliographies and premiere content related to foreign relations in the American Encyclopedia of Law, presenting a comprehensive view of the United States foreign relations-specific issues, written by authorities in the field.
22-U.S.C.-2422 in the Legal Encyclopedia: Foreign Assistance
In this entry about 22-U.S.C.-2422, find legal reference material, bibliographies and premiere content related to foreign assistance in the American Encyclopedia of Law, presenting a comprehensive view of the United States foreign assistance-specific issues, written by authorities in the field.
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