50 U.S.C. § 4338: Divestment of estates…

Summary

Rights in estates, trusts, insurance policies, annuities, remainders, pensions, workmen’s compensation, and veterans’ benefits that began after December 17, 1941 will be taken away if they were not already payable to or in the Attorney General’s hands by December 31, 1961. The Attorney General may keep any such property or income that was already payable to him or in his possession before December 31, 1961. Those interests are not taken away if the person who would benefit is a living individual who was convicted by name in court of murder, ill treatment, or deportation for slave labor of prisoners of war, political opponents, hostages, or civilians in occupied areas; of murder or ill treatment of military or naval persons; or of plunder or wanton destruction without justified military need. As soon as practical after the law takes effect, the Attorney General must send written notice to the lawful owner or custodian of any interest that was taken away.

Title 50, §4338

War and National Defense, Source: USLM XML via OLRC

(a)In general

Subject to the provisions of subsection (b) hereof, all rights and interests of individuals in estates, trusts, insurance policies, annuities, remainders, pensions, workmen’s compensation and veterans’ benefits vested under this chapter after December 17, 1941, which have not become payable or deliverable to or have not vested in possession in the Attorney General prior to December 31, 1961, are divested: Provided, That the provisions of this section shall not affect the right of the Attorney General to retain all such property rights and interests and to collect all income which is payable to or vested in possession in him prior to December 31, 1961.

(b)Exception to requirement where beneficial owner convicted of certain crimes

Nothing contained in this section shall divest or require the divestment of any portion of any such interest the beneficial owner of which is a natural person who has been convicted personally and by name by a court of competent jurisdiction of murder, ill treatment, or deportation for slave labor of prisoners of war, political opponents, hostages, or civilian population in occupied territories, or of murder or ill treatment of military or naval persons, or of plunder or wanton destruction without justified military necessity.

(c)Notice of divestment

At the earliest practicable time after the effective date of this Act, the Attorney General shall transmit to the lawful owner or custodian of any interest divested by this section written notice of such divestment.

Notes & Related Subsidiaries

Editorial Notes

References in Text

This chapter, referred to in subsec. (a), was in the original “this Act”, meaning act Oct. 6, 1917, ch. 106, 40 Stat. 411, known as the Trading with the enemy Act, also known as the Trading with the Enemy Act, which is classified principally to this chapter. For complete classification of this Act to the Code, see section 4301 of this title and Tables. The

Effective Date

of this Act, referred to in subsec. (c), probably means the date of enactment of Pub. L. 87–846, which added this section and was approved Oct. 22, 1962. Codification Section was formerly classified to section 41 of the former Appendix to this title prior to editorial reclassification and renumbering as this section.

§4338 Divestment of Estates, Trusts, Insurance Policies, Annuities, Remainders, Pensions, Workmen’s Compensation and Veterans’ Benefits; Exceptions; Notice of Divestment