Title 22, Foreign Relations and IntercourseRelease 119-102
§1631b Cancellation and Issuance of Shares of Stock or Other Beneficial Interest in Corporation
Title 22 › CHAPTER 21 — SETTLEMENT OF INTERNATIONAL CLAIMS › SUBCHAPTER II — VESTING AND LIQUIDATION OF BULGARIAN, HUNGARIAN, AND RUMANIAN PROPERTY › § 1631b
Summary
When the President names an officer or agency to hold a corporation's stock or other ownership interest, the corporation or its trustee must cancel the old shares in its records. It must then issue new certificates or other papers for those shares to the person or agency the President named, or follow that person's instructions about who should get them.
Full Legal Text
Title 22, §1631b
Foreign Relations and Intercourse, Source: USLM XML via OLRC
Whenever shares of stock or other beneficial interest in any corporation, association, or company or trust are vested in any officer or agency designated by the President under this subchapter, it shall be the duty of the corporation, association, or company or trustee or trustees issuing such shares or any certificates or other instruments representing the same or any other beneficial interest to cancel such shares of stock or other beneficial interest upon its, his, or their books and in lieu thereof to issue certificates or other instruments for such shares or other beneficial interest to the designee of the President, or otherwise as such designee shall require.
Reference
Citations & Metadata
Citation
22 U.S.C. § 1631b
Title 22, Foreign Relations and Intercourse
Last Updated
Aug 21, 2026
Release point: 119-102