46 U.S.C. § 53705 — Pledge of United States Government

FEDERAL · 46 U.S.C. · Chapter 537

Pledge of United States Government

Current through Pub. L. 119-102

Title 46 — Shipping·Ch. 537 — LOANS AND GUARANTEES·Subch. I

(a)Full Faith and Credit.—The full faith and credit of the United States Government is pledged to the payment of a guarantee made under this chapter, for both principal and interest, including interest (as may be provided for in the guarantee) accruing between the date of default under a guaranteed obligation and the date of payment in full of the guarantee.

(b)Incontestability.—A guarantee or commitment to guarantee made under this chapter is conclusive evidence of the eligibility of the obligation for the guarantee. The validity of a guarantee or commitment to guarantee made under this chapter is incontestable.

Free access — add to your briefcase to read the full text and ask questions with AI

(a) Full Faith and Credit.—The full faith and credit of the United States Government is pledged to the payment of a guarantee made under this chapter, for both principal and interest, including interest (as may be provided for in the guarantee) accruing between the date of default under a guaranteed obligation and the date of payment in full of the guarantee.
(b) Incontestability.—A guarantee or commitment to guarantee made under this chapter is conclusive evidence of the eligibility of the obligation for the guarantee. The validity of a guarantee or commitment to guarantee made under this chapter is incontestable.

46 U.S.C. § 53705 (Pledge of United States Government) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Source Credit

History

(Pub. L. 109–304, §8(c), Oct. 6, 2006, 120 Stat. 1606; Pub. L. 109–163, div. C, title XXXV, §3507(a)(1)(C), Jan. 6, 2006, 119 Stat. 3555; Pub. L. 110–181, div. C, title XXXV, §3522(b), Jan. 28, 2008, 122 Stat. 598.)

Editorial Notes

Editorial Notes

Amendments
2008—Pub. L. 110–181 repealed Pub. L. 109–163, §3507(a)(1)(C). See 2006 Amendment note below.
2006—Pub. L. 109–163, §3507(a)(1)(C), which directed the amendment of section 1273(e) of the former Appendix to this title from which this section was derived in part by striking "Secretary" each place it appears and inserting "Secretary or Administrator", was repealed by Pub. L. 110–181. See Historical and Revision notes above.