10 U.S.C. § 8866 — Mode of making sale

FEDERAL · 10 U.S.C. · Chapter 883

Mode of making sale

10 U.S.C. § 8866

Chapter883 — PRIZE

This text of 10 U.S.C. § 8866 (Mode of making sale) is published on Counsel Stack Legal Research, covering United States primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

10 U.S.C. § 8866.

Text

(a)If a sale of prize property is ordered by the court, the marshal shall—

(1)prepare and circulate full catalogues and schedules of the property to be sold and return a copy of each to the court;

(2)advertise the sale fully and conspicuously by posters and in newspapers ordered by the court;

(3)give notice to the naval prize commissioner at least five days before the sale; and

(4)keep the goods open for inspection for at least three days before the sale.

(b)An auctioneer of known skill in the business to which the sale pertains shall be employed by the Secretary of the Navy to make the sale. The auctioneer, or his agent, shall collect and deposit the gross proceeds of the sale. The auctioneer and his agent are responsible to the marshal for the conduct of the sale and the collection

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(a) If a sale of prize property is ordered by the court, the marshal shall—
(1) prepare and circulate full catalogues and schedules of the property to be sold and return a copy of each to the court;
(2) advertise the sale fully and conspicuously by posters and in newspapers ordered by the court;
(3) give notice to the naval prize commissioner at least five days before the sale; and
(4) keep the goods open for inspection for at least three days before the sale.
(b) An auctioneer of known skill in the business to which the sale pertains shall be employed by the Secretary of the Navy to make the sale. The auctioneer, or his agent, shall collect and deposit the gross proceeds of the sale. The auctioneer and his agent are responsible to the marshal for the conduct of the sale and the collection and deposit of the gross proceeds.

Source Credit

History

(Aug. 10, 1956, ch. 1041, 70A Stat. 479, §7666; renumbered §8866, Pub. L. 115–232, div. A, title VIII, §807(d)(9), Aug. 13, 2018, 132 Stat. 1837.)

Editorial Notes

The statement in subsection (b) of the responsibility of the auctioneer and agent to the marshal in the collection and deposit of proceeds is inserted to clarify the marshal's functions. It is derived from 34 U.S.C. 1139, and appears in §7662 of this title.

Editorial Notes

Amendments
2018—Pub. L. 115–232 renumbered section 7666 of this title as this section.

Statutory Notes and Related Subsidiaries

Effective Date of 2018 Amendment
Amendment by Pub. L. 115–232 effective Feb. 1, 2019, with provision for the coordination of amendments and special rule for certain redesignations, see section 800 of Pub. L. 115–232, set out as a note preceding section 3001 of this title.

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Bluebook (online)

10 U.S.C. § 8866, Counsel Stack Legal Research, https://law.counselstack.com/usc/10/8866.