§8864. Delivery of property on stipulation
(a) Prize property may be delivered to a claimant on stipulation, deposit, or other security, if—
(1) the claimant satisfies the court that the property has a peculiar and intrinsic value to him, independent of its market value;
(2) the court is satisfied that the rights and interests of the United States or of other claimants will not be prejudiced;
(3) an opportunity is given to the United States attorney and the naval prize commissioner or the naval special prize commissioner to be heard as to the appointment of appraisers; and
(4) a satisfactory appraisal is made.
(b) Money collected on a stipulation, or deposited instead of it, that does not represent costs shall be deposited with the Treasurer of the United States or a public depositary in the same manner as proceeds of a sale.
( Aug. 10, 1956, ch. 1041 , 70A Stat. 479 , § 7664; renumbered § 8864, Pub. L. 115-232, div. A, title VIII, § 807(d)(9) , Aug. 13, 2018 , 132 Stat. 1837 .)
Historical and Revision Notes
Revised section | Source (U.S. Code) | Source (Statutes at Large) |
|---|---|---|
7664 | 34 U.S.C. 1142. | R.S. 4626. |
34 U.S.C. 1142 and this section reflect the Act of March 3, 1899, ch. 413, § 13, 30 Stat. 1007, which repealed laws authorizing distribution of prize proceeds to captors, and the Act of May 29, 1920, ch. 214, § 1, 41 Stat. 654, which requires substitution of “Treasurer of the United States or public depositary” for “assistant treasurer”.
Editorial Notes
Amendments
2018—Pub. L. 115-232 renumbered section 7664 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.