FEDERAL · 31 U.S.C. · Chapter SUBCHAPTER II—ADMINISTRATIVE
Disposing and extending the maturity of obligations
31 U.S.C. § 324
Title31 — Money and Finance
ChapterSUBCHAPTER II—ADMINISTRATIVE
This text of 31 U.S.C. § 324 (Disposing and extending the maturity of obligations) 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
31 U.S.C. § 324.
Text
(a)The Secretary of the Treasury may—
(1)dispose of obligations—
(A)acquired by the Secretary for the United States Government; or
(B)delivered by an executive agency; and
(2)make arrangements to extend the maturity of those obligations.
(b)The Secretary may dispose or extend the maturity of obligations under subsection (a) of this section in the way, in amounts, at prices (for cash, obligations, property, or a combination of cash, obligations, or property), and on conditions the Secretary considers advisable and in the public interest.
(c)The authority under this section is in addition to authority under another law.
Free access — add to your briefcase to read the full text and ask questions with AI
Related
Engel v. Vitale
370 U.S. 421 (Supreme Court, 1962)
Madalyn Murray O'Hair v. Jon Murray v. W. Michael Blumenthal, Secretary of the Treasury
588 F.2d 1144 (Fifth Circuit, 1979)
Maison Lazard Et Compagnie v. Manfra, Tordella & Brooks, Inc.
585 F. Supp. 1286 (S.D. New York, 1984)
O'HAIR v. Blumenthal
462 F. Supp. 19 (W.D. Texas, 1978)
Transactions Between the Federal Financing Bank and the Department of the Treasury
(Office of Legal Counsel, 1996)
Source Credit
History
(Pub. L. 97–258, Sept. 13, 1982, 96 Stat. 882; Pub. L. 98–369, div. A, title IV, §444, July 18, 1984, 98 Stat. 816.)
Editorial Notes
In the section, the words "sell, exchange" are omitted as being included in "dispose". The word "obligations" is substituted for "bonds, notes, or other securities" for consistency in the revised title. The words "under judicial process or otherwise" are omitted as unnecessary.
In subsection (a), before clause (1), the words "Notwithstanding the provisions of section 302 of title 40" are omitted as unnecessary and because section 302 was repealed by section 1(95) of the Act of October 31, 1951 (ch. 654, 65 Stat. 705). In clause (2), the words "those obligations" are substituted for "thereof" for clarity.
In subsection (b), the words "The Secretary may dispose or extend the maturity of obligations under subsection (a) of this section" are added for clarity and because of the restatement. The words "combination of cash, obligations, or property" are substituted for "or any combination thereof" for clarity. The words "terms and conditions" are omitted as being included in "on conditions". The words "under the authority of this section" are omitted as unnecessary because of the restatement.
Subsection (c) is substituted for 31:741a(b) to eliminate unnecessary words and for consistency in the revised title.
Editorial Notes
Amendments
1984—Subsec. (b). Pub. L. 98–369 struck out provision that the Secretary could not dispose of obligations of one issuer, held by the Secretary at one time, having on the date of disposal a total face or par value of more than $1,000,000 or, if no-par obligations, a stated or book value of more than $1,000,000.
In subsection (a), before clause (1), the words "Notwithstanding the provisions of section 302 of title 40" are omitted as unnecessary and because section 302 was repealed by section 1(95) of the Act of October 31, 1951 (ch. 654, 65 Stat. 705). In clause (2), the words "those obligations" are substituted for "thereof" for clarity.
In subsection (b), the words "The Secretary may dispose or extend the maturity of obligations under subsection (a) of this section" are added for clarity and because of the restatement. The words "combination of cash, obligations, or property" are substituted for "or any combination thereof" for clarity. The words "terms and conditions" are omitted as being included in "on conditions". The words "under the authority of this section" are omitted as unnecessary because of the restatement.
Subsection (c) is substituted for 31:741a(b) to eliminate unnecessary words and for consistency in the revised title.
Editorial Notes
Amendments
1984—Subsec. (b). Pub. L. 98–369 struck out provision that the Secretary could not dispose of obligations of one issuer, held by the Secretary at one time, having on the date of disposal a total face or par value of more than $1,000,000 or, if no-par obligations, a stated or book value of more than $1,000,000.
Cite This Page — Counsel Stack
Bluebook (online)
31 U.S.C. § 324, Counsel Stack Legal Research, https://law.counselstack.com/usc/31/324.