2014 US Code
Title 40 - Public Buildings, Property, and Works (Sections 101 - 18304)
Subtitle I - Federal Property and Administrative Services (Sections 101 - 1315)
Chapter 7 - Foreign Excess Property (Sections 701 - 705)
Sec. 704 - Other methods of disposal
| Publication Title | United States Code, 2012 Edition, Supplement 2, Title 40 - PUBLIC BUILDINGS, PROPERTY, AND WORKS |
| Category | Bills and Statutes |
| Collection | United States Code |
| SuDoc Class Number | Y 1.2/5: |
| Contained Within | Title 40 - PUBLIC BUILDINGS, PROPERTY, AND WORKS SUBTITLE I - FEDERAL PROPERTY AND ADMINISTRATIVE SERVICES CHAPTER 7 - FOREIGN EXCESS PROPERTY Sec. 704 - Other methods of disposal |
| Contains | section 704 |
| Date | 2014 |
| Laws In Effect As Of Date | January 5, 2015 |
| Positive Law | Yes |
| Disposition | standard |
| Source Credit | Pub. L. 107-217, Aug. 21, 2002, 116 Stat. 1126. |
| Statutes at Large References | 63 Stat. 398 84 Stat. 883 100 Stat. 3509 116 Stat. 1126 |
| Public and Private Laws | Public Law 91-426, Public Law 99-627, Public Law 107-217 |
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(a) In General.—Foreign excess property not disposed of under section 702 or 703 of this title may be disposed of as provided in this section.
(b) Methods of Disposal.—
(1) Sale, exchange, lease, or transfer.—The head of an executive agency may dispose of foreign excess property by sale, exchange, lease, or transfer, for cash, credit or other property, with or without warranty, under terms and conditions the head of the executive agency considers proper.
(2) Exchange for foreign currency or credit.—If the head of an executive agency determines that it is in the interest of the United States, foreign excess property may be exchanged for—
(A) foreign currencies or credits; or
(B) substantial benefits or the discharge of claims resulting from the compromise or settlement of claims in accordance with law.
(3) Abandonment, destruction, or donation.—The head of an executive agency may authorize the abandonment, destruction, or donation of foreign excess property if the property has no commercial value or if estimated costs of care and handling exceed the estimated proceeds from sale.
(c) Advertising.—The head of an executive agency may dispose of foreign excess property without advertising if the head of the executive agency finds that disposal without advertising is the most practicable and advantageous means for the Federal Government to dispose of the property.
(d) Transfer of Title.—The head of an executive agency may execute documents to transfer title or other interests in, and take other action necessary or proper to dispose of, foreign excess property.
(Pub. L. 107–217, Aug. 21, 2002, 116 Stat. 1126.)
| Revised Section | Source (U.S. Code) | Source (Statutes at Large) |
|---|---|---|
| 704 | 40:512(a). | June 30, 1949, ch. 288, title IV, §402(a), 63 Stat. 398; Pub. L. 91–426, §2(a)–(c), Sept. 26, 1970, 84 Stat. 883; Pub. L. 99–627, §3(a), Nov. 7, 1986, 100 Stat. 3509. |
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