§ 8864. Delivery of property on stipulation

288 words·~1 min read·/usc/title-10/section-8864

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(a)Prize property may be delivered to a claimant on stipulation, deposit, or other security, if—

(1)the claimant satisfies the court that the property has a peculiar and intrinsic value to him, independent of its market value;

(2)the court is satisfied that the rights and interests of the United States or of other claimants will not be prejudiced;

(3)an opportunity is given to the United States attorney and the naval prize commissioner or the naval special prize commissioner to be heard as to the appointment of appraisers; and

(4)a satisfactory appraisal is made.

(b)Money collected on a stipulation, or deposited instead of it, that does not represent costs shall be deposited with the Treasurer of the United States or a public depositary in the same manner as proceeds of a sale.

(Aug. 10, 1956, ch. 1041, 70A Stat. 479, § 7664; renumbered § 8864, Pub. L. 115–232, div. A, title VIII, § 807(d)(9), Aug. 13, 2018, 132 Stat. 1837.)

34 U.S.C. 1142 and this section reflect the Act of March 3, 1899, ch. 413, § 13, 30 Stat. 1007, which repealed laws authorizing distribution of prize proceeds to captors, and the Act of May 29, 1920, ch. 214, § 1, 41 Stat. 654, which requires substitution of “Treasurer of the United States or public depositary” for “assistant treasurer”.

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