§ 2777. Fiscal provisions relating to foreign military sales credits
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/usc/title-22/section-2777A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)Permissible uses of cash payments under sections 2761, 2762, 2763, and 2769 Cash payments received under sections 2761, 2762, and 2769 of this title and advances received under section 2763 of this title shall be available solely for payments to suppliers (including the military departments) and refunds to purchasers and shall not be available for financing credits and guaranties.
(b)Transfer of funds to miscellaneous receipts of Treasury Amounts received from foreign governments and international organizations as repayments for credits extended pursuant to section 2763 of this title, amounts received from the disposition of instruments evidencing indebtedness under section 2764(b) of this title (excluding such portion of the sales proceeds as may be required at the time of disposition to be obligated as a reserve for payment of claims under guaranties issued pursuant to section 2764(b) of this title, which sums are made available for such obligations), and other collections (including fees and interest) shall be transferred to the miscellaneous receipts of the Treasury.
(c)Credit of funds to reserve under section 2764(c) Notwithstanding the provisions of subsection (b), to the extent that any of the funds constituting the reserve under section 2764(c) of this title are paid out for a claim arising out of a loan guaranteed under section 2764 of this title, amounts received from a foreign government or international organization after the date of such payment, with respect to such claim, shall be credited to such reserve, shall be merged with the funds in such reserve, and shall be available for any purpose for which funds in such reserve are available.
(Pub. L. 90–629, ch. 3, § 37, Oct. 22, 1968, 82 Stat. 1326; Pub. L. 93–189, § 25(11), Dec. 17, 1973, 87 Stat. 731; Pub. L. 96–533, title I, §§ 104(b), 105(e)(1), Dec. 16, 1980, 94 Stat. 3133, 3135.)
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Cited by 19 sections · top 17
U.S. Code
statutes-at-large
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- Public Law 101–510To authorize appropriations for fiscal year 1991 for military activities of the Department of Defense, for military construction, and for defense activities of the Department of Energy, to prescribe personnel strengths for such fiscal year for the Armed Forces, and for other purposes
- Public Law 97–114Making appropriations for the Department of Defense for the fiscal year ending September 30, 1982, and for other purposes
- Public Law 95–111Making appropriations for the Department of Defense for the fiscal year ending September 30, 1978. and for other purposes
- Public Law 98–212Making appropriations for the Department of Defense for the fiscal year ending September 30, 1984, and for other purposes
- Public Law 96–533To authorize appropriations for the fiscal year 1981 for international security and development assistance, the Peace Corps, and refugee assistance, and for other purposes
- Public Law 95–457Making appropriations for the Department of Defense for the fiscal year ending September 30, 1979, and for other purposes
10 references not yet in our index
- Pub. L. 90–629
- 82 Stat. 1326
- Pub. L. 93–189, § 25(11)
- 87 Stat. 731
- Pub. L. 96–533, title I
- 94 Stat. 3133
- Pub. L. 96–533, § 105(e)(1)
- Pub. L. 96–533, § 104(b)
- Pub. L. 93–189
- section 41 of Pub. L. 90–629
Citation graph
cites case law
§ 2777
Fiscal provisions relating to foreign military sales credits
Stat.×14
U.S.C.×4
Stat. Comp.×1
Pub. L.Pub. L. 90–629
Stat.82 Stat. 1326
Pub. L.Pub. L. 93–189, § 25(11)
Stat.87 Stat. 731
Pub. L.Pub. L. 96–533, title I
Cites 14 · showing 9Cited by 19 across 3 sources