§ 1307. Disposition of securities

352 words·~2 min read·/usc/title-40/section-1307

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The President, or an officer, agent, or agency the President may designate, may dispose of any securities acquired on behalf of the Federal Government under the provisions of the Transportation Act of 1920 (ch. 91, 41 Stat. 456), including any securities acquired as an incident to a case under title 11, under a receivership or reorganization proceeding, by assignment, transfer, substitution, or issuance, or by acquisition of collateral given for the payment of obligations to the Government, or may make arrangements for the extension of the maturity of the securities, in the manner, in amounts, at prices, for cash, securities, or other property or any combination of cash, securities, or other property, and on terms and conditions the President or designee considers advisable and in the public interest.

(Pub. L. 107–217, Aug. 21, 2002, 116 Stat. 1137.)

The words “sell, exchange, or otherwise”, “bonds, notes, or other”, “purchase, default, or other”, and “(whether at a foreclosure sale or otherwise)” are omitted as unnecessary.

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41 Stat. 456
Pub. L. 107–217
116 Stat. 1137
act Feb. 28, 1920, ch. 91
Pub. L. 95–473, § 4(b)
92 Stat. 1467
116 Stat. 1062

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§ 1307

Disposition of securities

Stat.41 Stat. 456

Pub. L.Pub. L. 107–217

Stat.116 Stat. 1137

Actact Feb. 28, 1920, ch. 91

Pub. L.Pub. L. 95–473, § 4(b)

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