41-U.S.C.-4503
§4503 – Security For Advance Payments
Pathway
Title 41 > Subtitle I > Division C > Chapter 45 > Section 4503
Details
- Reference: Section 4503
- Legend: §4503 – Security For Advance Payments
- USCode Year: 2013
Provision Content
Advance payments under section 4501 of this title may be made only on adequate security and a determination by the agency head that to do so would be in the public interest. The security may be in the form of a lien in favor of the Federal Government on the property contracted for, on the balance in an account in which the payments are deposited, and on such of the property acquired for performance of the contract as the parties may agree. This lien shall be paramount to all other liens and is effective immediately upon the first advancement of funds without filing, notice, or any other action by the Federal Government.
(Pub. L. 111–350, §3, Jan. 4, 2011, 124 Stat. 3791.)
| Revised Section |
Source (U.S. Code) | Source (Statutes at Large) |
|---|---|---|
| 4503 | 41:255(d). | June 30, 1949, ch. 288, title III, §305(d), 63 Stat. 396; July 12, 1952, ch. 703, §1(m), 66 Stat. 594; Pub. L. 85–800, §4, Aug. 28, 1958, 72 Stat. 966; Pub. L. 103–355, title II, §2051(a)(4), (5), (d), Oct. 13, 1994, 108 Stat. 3304. |
U.S. Encyclopedia of Law Coverage
41-U.S.C.-4502 in the Legal Encyclopedia: Public Contracts
In this entry about 41-U.S.C.-4502, find legal reference material, bibliographies and premiere content related to public contracts in the American Encyclopedia of Law, presenting a comprehensive view of the United States public contracts-specific issues, written by authorities in the field.
41-U.S.C.-3906 in the Legal Encyclopedia: Procurement
In this entry about 41-U.S.C.-3906, find legal reference material, bibliographies and premiere content related to procurement in the American Encyclopedia of Law, presenting a comprehensive view of the United States procurement-specific issues, written by authorities in the field.
Chapter 45 – Contract Financing in the Legal Encyclopedia: Federal Procurement Policy
In this entry about Chapter 45 – Contract Financing, find legal reference material, bibliographies and premiere content related to federal procurement policy in the American Encyclopedia of Law, presenting a comprehensive view of the United States federal procurement policy-specific issues, written by authorities in the field.
Leave a Reply