50 U.S.C. § 4135: Claims of stockholders

Summary

Ownership claims for losses tied to a company that is a U.S. national are denied. If you directly owned part of a company that suffered a covered loss and that company was not a U.S. national when the loss happened, you can make a claim, subject to other rules. If your ownership is indirect, a claim is allowed only if at least 25 percent of the company was owned by U.S. nationals at the time of the loss. Any payment is based on the company’s total loss and is split in the same proportion as your ownership share.

Title 50, §4135

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(a)Ownership interest in entity which is a national of the United States

A claim under section 4132 of this title based upon an ownership interest in any corporation, association, or other entity which is a national of the United States shall be denied.

(b)Ownership interest in entity which was not a national of the United States on date of loss

A claim under section 4132 of this title, based upon a direct ownership interest in a corporation, association, or other entity which suffered a loss within the meaning of said section, shall be allowed, subject to 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 in any such claim.

(c)Indirect ownership interest; minimum requirement

A claim under section 4132 of this title, based upon an indirect ownership interest in a corporation, association, or other entity which suffered a loss within the meaning of said section, shall be allowed, subject to 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)Calculation of award

Any award on a claim under 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 bears to the entire ownership interest thereof.

Editorial Notes

Codification Section was formerly classified to section 2017d of the former Appendix to this title prior to editorial reclassification and renumbering as this section.

§4135 Claims of Stockholders

Summary

Title 50, §4135

Notes & Related Subsidiaries

Editorial Notes

Citations & Metadata