§ 1643d. — Claims based on ownership interest in or debt or other obligation owing 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: 22USC1643d]
TITLE 22--FOREIGN RELATIONS AND INTERCOURSE
CHAPTER 21--SETTLEMENT OF INTERNATIONAL CLAIMS
SUBCHAPTER V--CLAIMS AGAINST CUBA AND CHINA
Sec. 1643d. Claims based on ownership interest in or debt or
other obligations owing by corporations or other legal entities
(a) Nationals of the United States; charge on property
A claim under section 1643b(a) of this title based upon an ownership
interest in any corporation, association, or other entity which is a
national of the United States shall not be considered. A claim under
section 1643b(a) of this title based upon a debt or other obligation
owing by any corporation, association, or other entity organized under
the laws of the United States, or of any State, the District of
Columbia, or the Commonwealth of Puerto Rico shall be considered, only
when such debt or other obligation is a charge on property which has
been nationalized, expropriated, intervened, or taken by the Government
of Cuba, or the Chinese Communist regime.
(b) Direct ownership
A claim under section 1643b(a) of this title based upon a direct
ownership interest in a corporation, association, or other entity for
loss shall be considered, subject to the other provisions of this
subchapter, if such corporation, association, or other entity on the
date of the loss was not a national of the United States, without regard
to the per centum of ownership vested in the claimant.
(c) Indirect ownership
A claim under section 1643b(a) of this title based upon an indirect
ownership interest in a corporation, association, or other entity for
loss shall be considered, subject to the other provisions of this
subchapter, only if at least 25 per centum of the entire ownership
interest thereof at the time of such loss was vested in nationals of the
United States.
(d) Computation of award
The amount of any claim covered by subsection (b) or (c) of this
section shall be calculated on the basis of the total loss suffered by
such corporation, association, or other entity, and shall bear the same
proportion to such loss as the ownership interest of the claimant at the
time of loss bears to the entire ownership interest thereof.
(Mar. 10, 1950, ch. 54, title V, Sec. 505, as added Pub. L. 88-666, Oct.
16, 1964, 78 Stat. 1111; amended Pub. L. 89-262, Sec. 3, Oct. 19, 1965,
79 Stat. 988; Pub. L. 89-780, Sec. 4, Nov. 6, 1966, 80 Stat. 1365.)
Amendments
1966--Subsec. (a). Pub. L. 89-780 provided for applicability of
subsection to property nationalized or taken by the Chinese Communist
regime.
1965--Subsec. (a). Pub. L. 89-262 authorized consideration of claims
based on debt or other obligation owing by corporations or other legal
entities which is a charge on property nationalized, expropriated,
intervened, or taken by Government of Cuba.
