Sec. 2863. Temporary authority for acceptance and use of funds for certain construction projects in the Republic of Korea
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/bill/117/s/4543/rs/section-2863·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 2863 of the National Defense Authorization Act for Fiscal Year 2020 ( Public Law 116–92 ; 133 Stat. 1899) is amended— in the section heading, by striking and inserting mutually beneficial to the Department of Defense and ; in in subsection (a)(1)— in the matter preceding subparagraph (A), by striking cash ; and in subparagraph (B), by inserting and construction after The design ; in subsection (b), by striking Contributions and inserting Cash contributions ; and by amending subsection
(e)to read as follows: Contributions may be accepted under subsection
(a)in any of the following forms: Irrevocable letter of credit issued by a financial institution acceptable to the Treasurer of the United States. Drawing rights on a commercial bank account established and funded by the Republic of Korea, which account is blocked such that funds deposited cannot be withdrawn except by or with the approval of the United States. Cash, which shall be deposited into the account established under subsection (b). .
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Sec. 2863
Temporary authority for acceptance and use of funds for certain construction projects in the Republic of Korea
Stat.133 Stat. 1899
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