40 USC 726: Purchase of insurance
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40 USC 726: Purchase of insurance Text contains those laws in effect on January 2, 2001
From Title 40-PUBLIC BUILDINGS, PROPERTY, AND WORKSCHAPTER 15-GOVERNMENT LOSSES IN SHIPMENT
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§726. Purchase of insurance

On and after the effective date of the regulations prescribed under section 721 of this title, no executive department, independent establishment, agency, wholly owned corporation, officer, or employee shall expend any money, or incur any obligation, for insurance, or for the payment of premiums on insurance, against loss, destruction, or damage in the shipment of valuables except as specifically authorized by the Secretary of the Treasury. The Secretary of the Treasury may give such authorization if he shall find that the risk of loss, destruction, or damage in such shipment cannot be adequately guarded against by the facilities of the United States or that the circumstances are such that adequate replacement cannot be provided under this chapter.

(July 8, 1937, ch. 444, §4, 50 Stat. 480 .)

Codification

Section was formerly classified to section 134c of Title 5 prior to the general revision and enactment of Title 5, Government Organization and Employees, by Pub. L. 89–554, §1, Sept. 6, 1966, 80 Stat. 378 .