§ 1641j. — Claims by corporations or other legal entities.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 22USC1641j]
TITLE 22--FOREIGN RELATIONS AND INTERCOURSE
CHAPTER 21--SETTLEMENT OF INTERNATIONAL CLAIMS
SUBCHAPTER III--CLAIMS AGAINST BULGARIA, HUNGARY, RUMANIA, ITALY, AND
THE SOVIET UNION
Sec. 1641j. Claims by corporations or other legal entities
(a) If a corporation or other legal entity has a claim on which an
award may be made under this subchapter, no award may be made to any
other person under this subchapter with respect to such claim.
(b) A claim based upon an interest, direct or indirect, in a
corporation or other legal entity which directly suffered the loss with
respect to which the claim is asserted, but which was not a national of
the United States at the time of the loss, shall be acted upon without
regard to the nationality of such legal entity if at the time of the
loss at least 25 per centum of the outstanding capital stock or other
beneficial interest in such entity was owned, directly or indirectly, by
natural persons who were nationals of the United States. This subsection
shall not be construed so as to exclude from eligibility a claim based
upon a direct ownership interest in a corporation, association, or other
entity, or the property thereof, for loss by reason of the
nationalization, compulsory liquidation, or other taking of such
corporation, association, or other entity by the Governments of
Bulgaria, Hungary, Italy, Rumania, or the Soviet Government. Any such
claim may be allowed without regard to the per centum of ownership
vested in the claimant.
(Mar. 10, 1950, ch. 54, title III, Sec. 311, as added Aug. 9, 1955, ch.
645, Sec. 3, 69 Stat. 573; amended Pub. L. 85-604, Sec. 3(a), Aug. 8,
1958, 72 Stat. 531.)
Amendments
1958--Subsec. (b). Pub. L. 85-604 provided that it shall not be
construed so as to exclude from eligibility a claim based upon a direct
ownership interest in a corporation, association, or other entity, or
the property thereof, for loss by reason of the nationalization,
compulsory liquidation, or other taking, and permitted allowance of such
claim without regard to the per centum of ownership vested in the
claimant.
Reconsideration of Claims
Section 3(b) of Pub. L. 85-604 provided that: ``Any claim heretofore
denied under subsection (b) of section 311 of the International Claims
Settlement Act of 1949, as amended [subsec. (b) of this section], prior
to the date of enactment of this section [Aug. 8, 1958], shall be
reconsidered by the Foreign Claims Settlement Commission solely to
redetermine its validity and amount by reason of the amendments made by
this section [amending subsec. (b) of this section].''
