Claims of stockholders

50 U.S.C. § 4135

• Title: 50 — War and National Defense
• Chapter: 51 — WAR CLAIMS
• Subchapter: II
• Current through: Pub. L. 119-99

Text

(a) Ownership interest in entity which is a national of the United States
A claim under section 4132 of this title based upon an ownership interest in any corporation, association, or other entity which is a national of the United States shall be denied.
(b) Ownership interest in entity which was not a national of the United States on date of loss
A claim under section 4132 of this title, based upon a direct ownership interest in a corporation, association, or other entity which suffered a loss within the meaning of said section, shall be allowed, subject to other provisions of this subchapter, if such corporation, association, or other entity on the date of the loss was not a national of the United States, without regard to the per centum of ownership vested in the claimant in any such claim.
(c) Indirect ownership interest; minimum requirement
A claim under section 4132 of this title, based upon an indirect ownership interest in a corporation, association, or other entity which suffered a loss within the meaning of said section, shall be allowed, subject to other provisions of this subchapter, only if at least 25 per centum of the entire ownership interest thereof at the time of such loss was vested in nationals of the United States.
(d) Calculation of award
Any award on a claim under subsection (b) or (c) of this section shall be calculated on the basis of the total loss suffered by such corporation, association, or other entity, and shall bear the same proportion to such loss as the ownership interest of the claimant bears to the entire ownership interest thereof.

History

(July 3, 1948, ch. 826, title II, §205, as added Pub. L. 87–846, title I, §103, Oct. 22, 1962, 76 Stat. 1109.)

Editorial Notes

Editorial Notes

Codification
Section was formerly classified to section 2017d of the former Appendix to this title prior to editorial reclassification and renumbering as this section.