Title 22 — Foreign Relations and IntercourseRelease 119-73not60

§1631l Determination of Expenses and Time for Filing Suit, Notice of Claim and Debt Claim

Title 22 › Chapter 21— SETTLEMENT OF INTERNATIONAL CLAIMS › Subchapter II— VESTING AND LIQUIDATION OF BULGARIAN, HUNGARIAN, AND RUMANIAN PROPERTY › § 1631l

Last updated Apr 5, 2026|Official source

Summary

Before turning money from selling property into the Treasury, the President’s designee must make two findings. First, the designee must figure the administrative costs tied to handling that property and its sale; that amount, plus up to the actual costs spent on conserving, preserving, or maintaining the property and any taxes, will be taken from the sale proceeds and kept. Second, the designee must confirm that the time limit for starting a lawsuit, filing a notice of claim, and filing debt claims has passed.

Full Legal Text

Title 22, §1631l

Foreign Relations and Intercourse — Source: USLM XML via OLRC

Prior to covering the net proceeds of liquidation of any property into the Treasury pursuant to section 1631a(a) of this title, the designee of the President under this subchapter shall determine—

(1)the amount of his administrative expenses attributable to the performance of his functions under this subchapter with respect to such property and the proceeds thereof. The amount so determined, together with an amount not exceeding that expended or incurred for the conservation, preservation, or maintenance of such property and the proceeds thereof, and for taxes in respect of same, shall be deducted and retained by the designee from the proceeds otherwise covered into the Treasury; and

(2)that the time for the institution of a suit under section 1631f(a) of this title, for the filing of a notice of claim under section 1631f(b) of this title, and for the filing of debt claims under section 1631g of this title has elapsed.

Reference

Citations & Metadata

Citation

22 U.S.C. § 1631l

Title 22 — Foreign Relations and Intercourse

Last Updated

Apr 5, 2026

Release point: 119-73not60