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31 U.S.C. § 3110 — Sale of obligations of governments of foreign countries

Federal law — U.S. Code and appendices · legal_authorities

31 U.S.C. § 3110 — Sale of obligations of governments of foreign countries

**(a)** With the approval of the President, the Secretary of the Treasury may sell obligations of the government of a foreign country when the obligations were acquired under— (1) the First Liberty Bond Act and matured before June 16, 1947; (2) the Second Liberty Bond Act and matured before October 16, 1938; or (3) section 7(a) of the Victory Liberty Loan Act. **(b)** The Secretary may prescribe the conditions and frequency for receiving payment under obligations of a government of a foreign country acquired under the laws referred to in subsection (a) of this section. A sale of an obligation acquired under those Acts shall at least equal the purchase price and accrued interest. The proceeds of obligations sold under this section and payments received from governments on the principal of their obligations shall be used to redeem or buy (for not more than par value and accrued interest) bonds of the United States Government issued under this chapter. If those bonds cannot be redeemed or bought, the Secretary shall redeem or buy other outstanding interest-bearing obligations of the Government that are subject to redemption or which can be bought at not more than par value and accrued interest.

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Source file: Laws/federal/codes/united-states-code/title-31/section-3110-sale-of-obligations-of-governments-of-foreign-countries--ed38274244.md
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Source location: Title 31, Chapter 31, § 3110; chapter-031-public-debt.md

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Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 462a — Repealed. Pub. L. 97–258, § 5(b), Sept. 13, 1982, 96 Stat. 1068

### Statutory Notes Section, act Apr. 24, 1917, ch. 4, § 7, 40 Stat. 37, related to reserves against United States deposits.

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Federal law — U.S. Code and appendices · legal_authorities

31 U.S.C. § 3110 — Sale of obligations of governments of for-

Page 222 TITLE 31—MONEY AND FINANCE § 3108 Enactment of the Tax Reform Act of 1984, referred to in text, means the date of enactment of division A of Pub. L. 98–369, which was approved July 18, 1984. AMENDMENTS 1984—Pub. L. 98–369 inserted ‘‘, as in effect before the enactment of the Tax Reform Act of 1984’’ after ‘‘(26 U.S.C. 405(b), 409(a))’’. Statutory Notes and Related Subsidiaries EFFECTIVE DATE OF 1984 AMENDMENT Amendment by Pub. L. 98–369 applicable to obliga- tions issued after Dec. 31, 1983, see section 491(f)(1) of Pub. L. 98–369, set out as a note under section 62 of Title 26, Internal Revenue Code. § 3108. Prohibition against circulation privilege An obligation issued under sections 3102–3104(a)(1) and 3105–3107 of this title may not bear the circulation privilege. (Pub. L. 97–258, Sept. 13, 1982, 96 Stat. 942.) HISTORICAL AND REVISION NOTES Revised Section Source (U.S. Code) Source (Statutes at Large) 3108 ......... 31:753(d)(1st sen- tence). Sept. 24, 1917, ch. 56, 40 Stat. 288, § 18(d)(1st sentence); added Mar. 3, 1919, ch. 100, § 1, 40 Stat. 1310. 31:757c(d)(last sen- tence). Sept. 24, 1917, ch. 56, 40 Stat. 288, § 22(d)(last sentence); added Feb. 4, 1935, ch. 5, § 6, 49 Stat. 21; restated Feb. 19, 1941, ch. 7, § 3, 55 Stat. 8. 31:757c–2(c)(last sen- tence). Sept. 24, 1917, ch. 56, 40 Stat. 288, § 22A(c)(last sentence); added Nov. 8, 1966, Pub. L. 89–800, § 5, 80 Stat. 1515. 31:758. Sept. 24, 1917, ch. 56, § 7(1st sentence), 40 Stat. 291. The reference in 31:758 to certificates authorized under 31:757 is omitted because the authority under 31:757 was ended by section 2(b)(3) of the Public Debt Act of 1941 (ch. 7, 55 Stat. 7). § 3109. Tax and loss bonds (a) The Secretary of the Treasury may issue tax an

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