Title 40 — Public Buildings, Property, and WorksRelease 119-73not60
§17307 Purchase of Insurance
Title 40 › Subtitle SUBTITLE VI— MISCELLANEOUS › Chapter 173— GOVERNMENT LOSSES IN SHIPMENT › § 17307
Summary
Federal agencies, officers, employees, and wholly owned government corporations may insure shipped valuables only if the Treasury Secretary finds that government protection or replacement under this chapter is inadequate.
Full Legal Text
Title 40, §17307
Public Buildings, Property, and Works — Source: USLM XML via OLRC
An executive department, independent establishment, agency, wholly owned Government corporation, officer, or employee may expend money, or incur an obligation, for insurance, or for the payment of premiums on insurance, against loss, destruction, or damage in the shipment of valuables only as specifically authorized by the Secretary of the Treasury. The Secretary may give the authorization if the Secretary finds that the risk of loss, destruction, or damage in the shipment cannot be guarded against adequately by the facilities of the Federal Government or that adequate replacement cannot be provided under this chapter.
Legislative History
Notes & Related Subsidiaries
Historical and Revision Notes
Revised SectionSource (U.S. Code)Source (Statutes at Large) 1730740:726.July 8, 1937, ch. 444, § 4, 50 Stat. 480. The words “On and after the
Effective Date
of the
Regulations
prescribed under section 721 of this title” are omitted as obsolete. The words “the circumstances are such that” are omitted as unnecessary.
Reference
Citations & Metadata
Citation
40 U.S.C. § 17307
Title 40 — Public Buildings, Property, and Works
Last Updated
Apr 5, 2026
Release point: 119-73not60