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Code · BILL · 113th Congress · H.R. 4435 (Introduced in House) — To authorize appropriations for fiscal year 2015 for military activities of the Department of Defense and for militar... · Sec. 1042

Sec. 1042. Renewals, extensions, and succeeding leases for financial institutions operating on Department of Defense installations

135 words·~1 min read·/bill/113/hr/4435/ih/section-1042

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Subsection
(h)of section 2667 of title 10, United States Code, is amended by adding the following new paragraph: Paragraph
(1)does not apply to a renewal, extension, or succeeding lease by the Secretary concerned with a financial institution selected in accordance with the Department of Defense Financial Management Regulation providing for the selection of financial institutions to operate on military installations if each of the following applies: The on-base financial institution was selected before the date of the enactment of this paragraph or competitive procedures are used for the selection of any new financial institutions. A current and binding operating agreement is in place between the installation commander and the selected on-base financial institution. The renewal, extension or succeeding lease shall terminate upon the termination of the operating agreement described in subparagraph (A)(ii). .
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