§ 1642a. — Financial provisions.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 22USC1642a]
TITLE 22--FOREIGN RELATIONS AND INTERCOURSE
CHAPTER 21--SETTLEMENT OF INTERNATIONAL CLAIMS
SUBCHAPTER IV--CLAIMS AGAINST CZECHOSLOVAKIA
Sec. 1642a. Financial provisions
(a) Deposit of proceeds of certain property
The Secretary of the Treasury is directed to hold, in an account in
the Treasury of the United States, the net proceeds of the sale of
certain Czechoslovakian steel mill equipment heretofore blocked and sold
in the United States by order of the Secretary of the Treasury under
authority of Executive Order Numbered 9193, dated July 6, 1942 (7 F.R.
5205, July 9, 1942).
(b) Creation of Czechoslovakian Claims Fund
There is created in the Treasury of the United States a fund to be
designated the Czechoslovakian Claims Fund, for the payment of
unsatisfied claims of nationals of the United States against
Czechoslovakia as authorized in this subchapter.
(c) Voluntary settlement and payment of claims of nationals of the
United States
If, within one year following August 8, 1958, the Government of
Czechoslovakia voluntarily settles with and pays to the Government of
the United States a sum in payment of claims of United States nationals
against Czechoslovakia, all moneys held pursuant to subsection (a) of
this section shall be disposed of in accordance with the terms of the
settlement agreement with Czechoslovakia and applicable provisions of
this subchapter and the sum paid by Czechoslovakia shall be covered into
the Czechoslovakian Claims Fund.
(d) Deposit of net proceeds into Fund
Upon the expiration of one year after August 8, 1958 if no
settlement with Czechoslovakia of the type specified in subsection (c)
of this section has occurred, all moneys held pursuant to subsection (a)
of this section except amounts held in reserve pursuant to section 1642b
of this title, shall be covered into the Czechoslovakian Claims Fund.
(e) Deductions for expenses
The Secretary of the Treasury shall deduct from the Czechoslovakian
Claims Fund 5 per centum thereof as reimbursement to the Government of
the United States for the expenses incurred by the Commission and by the
Treasury Department in the administration of this subchapter. The amount
so deducted shall be covered into the Treasury to the credit of
miscellaneous receipts.
(f) Disposition of balance of Fund
After the deduction for administrative expenses pursuant to
subsection (e) of this section, and after payment of awards certified
pursuant to section 1642i of this title, the balance remaining in the
Fund, if any, shall be paid to Czechoslovakia in accordance with
instructions to be provided by the Secretary of State.
(Mar. 10, 1950, ch. 54, title IV, Sec. 402, as added Pub. L. 85-604,
Sec. 1, Aug. 8, 1958, 72 Stat. 527.)
References in Text
Executive Order Numbered 9193, dated July 6, 1942 (7 F.R. 5205, July
9, 1942), referred to in subsec. (a), is Ex. Ord. No. 9193, July 6,
1942, 7 F.R. 5205, which amended Ex. Ord. No. 9095, formerly set out
under section 6 of Title 50, Appendix, War and National Defense, which
was revoked by Ex. Ord. No. 12553, Feb. 25, 1986, 51 F.R. 7237.
Section Referred to in Other Sections
This section is referred to in section 1642b of this title.
