46-U.S.C.-53909

46-U.S.C.-53909

§53909 – War Risk Insurance Revolving Fund

Pathway

Title 46 > Subtitle V > Part C > Chapter 539 > Section 53909

Details

  • Reference: Section 53909
  • Legend: §53909 – War Risk Insurance Revolving Fund
  • USCode Year: 2013

Provision Content

(a) In General.—There is a war risk insurance revolving fund in the Treasury.

(b) Deposits.—There shall be deposited in the fund amounts appropriated to carry out this chapter and amounts received in carrying out this chapter.

(c) Payments.—There shall be paid from the fund amounts for return premiums, losses, settlements, judgments, and all liabilities incurred by the United States Government under this chapter.

(d) Investment.—The Secretary of Transportation may request the Secretary of the Treasury to invest such portion of the fund as is not, in the judgment of the Secretary of Transportation, required to meet the current needs of the fund. These investments shall be made by the Secretary of the Treasury in public debt securities of the Government, with maturities suitable to the needs of the fund, and bearing interest rates determined by the Secretary of the Treasury, taking into consideration current market yields on outstanding marketable obligations of the Government of comparable maturity. Interest and benefits from the securities shall be deposited in the fund.

(Pub. L. 109–304, §8(c), Oct. 6, 2006, 120 Stat. 1630; Pub. L. 109–364, div. C, title XXXV, §3510(a)(1), Oct. 17, 2006, 120 Stat. 2520; Pub. L. 110–181, div. C, title XXXV, §3526(g), Jan. 28, 2008, 122 Stat. 602.)

Historical and Revision Notes
Revised
Section
Source (U.S. Code) Source (Statutes at Large)
53909 46 App.:1288. June 29, 1936, ch. 858, title XII, §1208, as added Sept. 7, 1950, ch. 906, 64 Stat. 775; Pub. L. 87–743, Oct. 3, 1962, 76 Stat. 740; Pub. L. 97–31, §12(139), Aug. 6, 1981, 95 Stat. 166; Pub. L. 108–375, div. C, title XXXV, §3502(b), Oct. 28, 2004, 118 Stat. 2195.
  46 App.:1288a. Nov. 1, 1951, ch. 664, par. under heading War–Risk Insurance Revolving Fund, 65 Stat. 746; Pub. L. 97–31, §12(140), Aug. 6, 1981, 95 Stat. 166.

In subsection (c), the reference to the Fiscal Service [previously Division of Disbursement] in the Treasury Department is omitted as unnecessary.

In subsection (d), the amendment by section 3502(b) of Public Law 108–375, which struck the third sentence in 46 App. U.S.C. 1288 and inserted new material, was executed as if it were intended to strike the fourth sentence instead, to reflect probably [sic] intent.

The text of 46 App. U.S.C. 1288(b) is omitted as unnecessary because enactment of a law authorizing certain governmental functions is itself an authorization of appropriations to carry out those functions. The text of 46 App. U.S.C. 1288a is omitted as executed and impliedly repealed by 46 App. U.S.C. 1119.

Amendments

2008—Pub. L. 110–181 repealed Pub. L. 109–364, §3510(a)(1). See 2006 Amendment note below.

2006—Pub. L. 109–364, §3510(a)(1), which directed the amendment of section 1288(a) of the former Appendix to this title from which this section was derived in part, was repealed by Pub. L. 110–181. The substance of the amendment was incorporated in this section as enacted by Pub. L. 109–304. See Historical and Revision notes above.

Effective Date of 2006 Amendment

Pub. L. 109–364, div. C, title XXXV, §3510(a)(2), Oct. 17, 2006, 120 Stat. 2520, which provided that the amendments made by paragraph (1) [amending section 1288(a) of the former Appendix to this title, from which this section was derived in part] were to be effective as if enacted by section 3502 of Pub. L. 108–375, was repealed by Pub. L. 110–181, div. C, title XXXV, §3526(g), Jan. 28, 2008, 122 Stat. 602.

U.S. Encyclopedia of Law Coverage

Chapter 539 – War Risk Insurance in the Legal Encyclopedia: Shipping

In this entry about Chapter 539 – War Risk Insurance, find legal reference material, bibliographies and premiere content related to shipping in the American Encyclopedia of Law, presenting a comprehensive view of the United States shipping-specific issues, written by authorities in the field.

46-U.S.C.-53908 in the Legal Encyclopedia: War

In this entry about 46-U.S.C.-53908, find legal reference material, bibliographies and premiere content related to war in the American Encyclopedia of Law, presenting a comprehensive view of the United States war-specific issues, written by authorities in the field.

46-U.S.C.-53908 in the Legal Encyclopedia: Merchant Marine

In this entry about 46-U.S.C.-53908, find legal reference material, bibliographies and premiere content related to merchant marine in the American Encyclopedia of Law, presenting a comprehensive view of the United States merchant marine-specific issues, written by authorities in the field.

46-U.S.C.-53903 in the Legal Encyclopedia: Insurance

In this entry about 46-U.S.C.-53903, find legal reference material, bibliographies and premiere content related to insurance in the American Encyclopedia of Law, presenting a comprehensive view of the United States insurance-specific issues, written by authorities in the field.

Topic Map


Posted

in

,

by

Comments

Leave a Reply

Your email address will not be published. Required fields are marked *