22 U.S.C. § 1631a — Property owned by Bulgaria, Hungary,

Page 411 TITLE 22—FOREIGN RELATIONS AND INTERCOURSE § 1631a and subsequently, along with the remaining sections of former Title 26 comprising chapter 1, except sections 143 and 144, were repealed by sections 7851(a)(1)(A) of Title 26, Internal Revenue Code. Sections 143 and 144 of former Title 26 were repealed by section 7851(a)(1)(B) of Title 26. Chapter 2A of the Internal Revenue Code of 1939, re- ferred to in subsec. (f)(2)(A), was comprised of sections 500 to 511 of former Title 26, Internal Revenue Code. Sections 500 to 511 were repealed by section 7851(a)(1)(A) of Title 26, Internal Revenue Code. Chapter 2B of the Internal Revenue Code of 1939, re- ferred to in subsec. (f)(2)(A), was comprised of sections 600 to 605 of former Title 26, Internal Revenue Code. Sections 600 to 605 were repealed by act Nov. 8, 1945, ch. 453, title II, § 202, 59 Stat. 574, eff. with respect to tax- able years ending June 30, 1946. Chapter 2D of the Internal Revenue Code of 1939, re- ferred to in subsec. (f)(2)(A), was comprised of sections 700 to 706 of former Title 26, Internal Revenue Code. Sections 700 to 716 were repealed by section 7851(a)(1)(A) of Title 26, Internal Revenue Code. Chapter 2E of the Internal Revenue Code of 1939, re- ferred to in subsec. (f)(2)(A), was comprised of sections 710 to 784 of former Title 26, Internal Revenue Code. Sections 710 to 736, 740, 742 to 744, 750, 751, 760, 761 and 780 to 784 were repealed by act Nov. 8, 1945, ch. 453, title I, § 122(a), 59 Stat. 568. Section 741 was repealed by act Oct. 21, 1942, ch. 619, title II, §§ 224(b), 228(b), 56 Stat. 920, 925. Section 752 was repealed by act Oct. 21, 1942, ch. 619, title II, § 229(a)(1), 56 Stat. 931, eff. as of Oct. 8, 1940. Subtitle A of the Internal Revenue Code of 1986, re- ferred to in subsec. (f)(2)(A), is subtitle A of act Aug. 16, 1954, ch. 736, 68A Stat. 4, which comprises Subtitle A (§ 1 et seq.) of Title 26, Internal Revenue Code. AMENDMENTS 1987—Subsec. (g). Pub. L. 100–204 added subsec. (g). 1986—Subsec. (f)(2)(A). Pub. L. 99–514 substituted ‘‘In- ternal Revenue Code of 1986’’ for ‘‘Internal Revenue Code of 1954’’. 1980—Subsec. (e). Pub. L. 96–445, § 1(1), substituted ‘‘Except as provided in subsection (f), the Secretary of the Treasury’’ for ‘‘The Secretary of the Treasury’’. Subsec. (f). Pub. L. 96–445, § 1(2), added subsec. (f). 1968—Subsec. (c). Pub. L. 90–421, § 1(4), inserted ‘‘, prior to July 24, 1968,’’ after ‘‘the sums covered’’ and substituted ‘‘section 1626(b)(1) of this title’’ for ‘‘section 1626(b) of this title’’. Subsec. (e). Pub. L. 90–421, § 1(5), added subsec. (e). 1955—Act Aug. 9, 1955, amended credit to section by designating act Mar. 10, 1950, as ‘‘title I’’. Statutory Notes and Related Subsidiaries REFERENCES TO THIS SUBCHAPTER DEEMED TO INCLUDE SECTION 119 OF H.R. 2076 References to this subchapter deemed to include sec- tion 119 of H.R. 2076, see section 119(b) of H.R. 2076, as enacted into law by Pub. L. 104–91, set out as an Au- thority of Foreign Claims Settlement Commission note under section 1644 of this title. Executive Documents ABOLITION OF INTERNATIONAL CLAIMS COMMISSION AND TRANSFER OF FUNCTIONS International Claims Commission of the United States, including offices of its members, abolished and functions of Commission and of members, officers, and employees thereof transferred to Foreign Claims Set- tlement Commission of the United States by Reorg. Plan No. 1 of 1954, §§ 1, 2, 4, eff. July 1, 1954, 19 F.R. 3985, 68 Stat. 1279, set out as a note under section 1622 of this title. For provisions transferring Foreign Claims Settle- ment Commission of the United States as a separate agency within the Department of Justice, see section 1622a et seq. of this title. SUBCHAPTER II—VESTING AND LIQUIDA- TION OF BULGARIAN, HUNGARIAN, AND RUMANIAN PROPERTY § 1631. Definitions As used in this subchapter the term— (1) ‘‘Person’’ means a natural person, part- nership, association, other unincorporated body, corporation, or body politic. (2) ‘‘Property’’ means any property, right, or interest. (3) ‘‘Treaty of peace’’, with respect to a country, means the treaty of peace with that country signed at Paris, France, February 10, 1947, which came into force between that coun- try and the United States on September 15, 1947. (Mar. 10, 1950, ch. 54, title II, § 201, as added Aug. 9, 1955, ch. 645, § 3, 69 Stat. 562.) § 1631a. Property owned by Bulgaria, Hungary, and Rumania or any national thereof (a) Vesting of property; liquidation; disposition of net proceeds In accordance with article 25 of the treaty of peace with Bulgaria, article 29 of the treaty of peace with Hungary, and article 27 of the treaty of peace with Rumania, any property which was blocked in accordance with Executive Order 8389 of April 10, 1940, as amended, and remains blocked on August 9, 1955, and which, as of Sep- tember 15, 1947, was owned directly or indirectly by Bulgaria, Hungary, and Rumania or by any national thereof as defined in such Executive order, shall vest in such officer or agency as the President may from time to time designate and shall vest when, as, and upon such terms as the President or his designee shall direct. Such property shall be sold or otherwise liquidated as expeditiously as possible after vesting under such rules and regulations as the President or his designee may prescribe. The net proceeds re- maining upon completion of the administration and liquidation thereof, including the adjudica- tion of any suits or claims with respect thereto under sections 1631f and 1631g of this title, shall be covered into the Treasury. Notwithstanding the preceding provisions of this subsection, any such property determined by the President or his designee to be owned directly by a natural person shall not be vested under this subsection but shall remain blocked subject to release when, as, and upon such terms as the President or his designee may prescribe. If, at any time within one year from the date of the vesting of any property under this subsection, the Presi- dent or his designee shall determine that it was directly owned at the date of vesting by a nat- ural person, then the President or his designee shall divest such property and restore it to its blocked status prior to vesting, subject to re- lease when, as, and upon such terms as the President or his designee may prescribe, or if such property has been liquidated, shall divest the net proceeds thereof and carry them in blocked accounts with the Treasury, bearing no interest, in the name of the owner thereof at the date of vesting, subject to release when, as, and upon such terms as the President or his designee may prescribe. Page 412 TITLE 22—FOREIGN RELATIONS AND INTERCOURSE § 1631b (b) Net proceeds of property vested in Alien Property Custodian or Attorney General The net proceeds of any property which was vested in the Alien Property Custodian or the Attorney General after December 17, 1941, pursu- ant to the Trading With the Enemy Act, as amended [50 U.S.C. 4301 et seq.], and which at the date of vesting was owned directly or indi- rectly by Bulgaria, Hungary, or Rumania, or any national thereof, shall after completion of the administration, liquidation, and disposition of such property pursuant to such Act, including the adjudication of any suits or claims with re- spect thereto under such Act, be covered into the Treasury, except that the net proceeds of any such property which the President or his designee shall determine was directly owned by a natural person at the date of vesting shall be divested by the President or such officer or agency as he may designate and carried in blocked accounts with the Treasury, bearing no interest, in the name of the owner thereof at the date of vesting, subject to release when, as, and upon such terms as the President or his designee may prescribe. (c) Determination of ownership by natural per- son of vested property The determination under this section that any vested property was not directly owned by a nat- ural person at the date of vesting shall be within the sole discretion of the President or his des- ignee and shall not be subject to review by any court. (d) Furnishing of information; production of books and records The President or his designee may require any person to furnish, in the form of reports or oth- erwise, complete information, including infor- mation with regard to past transactions, rel- ative to any property blocked under Executive Order 8389 of April 10, 1940, as amended, or as may be otherwise necessary to enforce the pro- visions of this section; and the President or his designee may require of any person the produc- tion of any books of account, records, contracts, letters, memoranda, or other papers relative to such property or as may be otherwise necessary to enforce the provisions of this section. (Mar. 10, 1950, ch. 54, title II, § 202, as added Aug. 9, 1955, ch. 645, § 3, 69 Stat. 562.) Editorial Notes REFERENCES IN TEXT Executive Order 8389 of April 10, 1940, referred to in subsecs. (a) and (d), is Ex. Ord. 8389, Apr. 10, 1940, 5 F.R. 1400, which is set out under section 4305 of Title 50, War and National Defense. The Trading With the Enemy Act, as amended, and such Act, referred to in subsec. (b), is act Oct. 6, 1917, ch. 106, 40 Stat. 411, which is classified generally to chapter 53 (§ 4301 et seq.) of Title 50, War and National Defense. For complete classification of this Act to the Code, see Tables. Executive Documents EXECUTIVE ORDER NO. 10644 Ex. Ord. No. 10644, Nov. 8, 1955, 20 F.R. 8363, as amend- ed by Ex. Ord. No. 11281, May 13, 1966, 31 F.R. 7215, which designated the Attorney General to perform functions of the President under this subchapter and the Secretary of the Treasury to perform functions under this section with respect to the release of blocked property and accounts, was revoked by Ex. Ord. No. 12553, Feb. 25, 1986, 51 F.R. 7237. § 1631b. Cancellation and issuance of shares of stock or other beneficial interest in corpora- tion Whenever shares of stock or other beneficial interest in any corporation, association, or com- pany or trust are vested in any officer or agency designated by the President under this sub- chapter, it shall be the duty of the corporation, association, or company or trustee or trustees issuing such shares or any certificates or other instruments representing the same or any other beneficial interest to cancel such shares of stock or other beneficial interest upon its, his, or their books and in lieu thereof to issue certifi- cates or other instruments for such shares or other beneficial interest to the designee of the President, or otherwise as such designee shall require. (Mar. 10, 1950, ch. 54, title II, § 203, as added Aug. 9, 1955, ch. 645, § 3, 69 Stat. 563.) § 1631c. Filing of order of conveyance Any vesting order, or other order or require- ment issued pursuant to this subchapter, or a duly certified copy thereof, may be filed, reg- istered, or recorded in any office for the filing, registering, or recording of conveyances, trans- fers, or assignments of such property as may be covered by such order or requirement; and if so filed, registered, or recorded shall impart the same notice and have the same force and effect as a duly executed conveyance, transfer, or as- signment so filed, registered, or recorded. (Mar. 10, 1950, ch. 54, title II, § 204, as added Aug. 9, 1955, ch. 645, § 3, 69 Stat. 563.) § 1631d. Acquittance and discharge of obligation Any payment, conveyance, transfer, assign- ment, or delivery of property made to the Presi- dent or his designee pursuant to this subchapter, or any rule, regulation, instruction, or direction issued under this subchapter, shall to the extent thereof be a full acquittance and discharge for all purposes of the obligation of the person mak- ing the same; and no person shall be held liable in any court for or in respect of any such pay- ment, conveyance, transfer, assignment, or de- livery made in good faith in pursuance of and in reliance on the provisions of this subchapter, or of any rule, regulation, instruction, or direction issued thereunder. (Mar. 10, 1950, ch. 54, title II, § 205, as added Aug. 9, 1955, ch. 645, § 3, 69 Stat. 563.) § 1631e. Rules by district courts; appeals The district courts of the United States are given jurisdiction to make and enter all such rules as to notice and otherwise, and all such or- ders and decrees, and to issue such process as may be necessary and proper in the premises to enforce the provisions of this subchapter, with a right of appeal from the final order or decree of such court as provided in chapter 83 of title 28.