50 U.S.C. § 4133 — Transfers and assignments

Page 1038 TITLE 50—WAR AND NATIONAL DEFENSE § 4133 1 See References in Text note below. military forces (including territory to which Japan has renounced all right, title, and claim under article 2 of the Treaty of Peace Between the Allied Powers and Japan) except the island of Guam: Provided, That claims for loss, de- struction, or damage occurring in the Com- monwealth of the Philippines shall not be al- lowed except on behalf of nationals of the United States who have received no payment, and certify under oath or affirmation that they have received no payment, on account of the same loss, destruction, or damage under the Philippine Rehabilitation Act of 1946,1 whether or not claim was filed thereunder: Provided further, That such loss, destruction, or damage must have occurred, as a direct consequence of (1) military operations of war or (2) special measures directed against prop- erty in such countries or territories during the respective periods specified, because of the enemy or alleged enemy character of the owner, which property was owned, directly or indirectly, by a national of the United States at the time of such loss, damage or destruc- tion; (b) damage to, or loss or destruction of, ships or ship cargoes directly or indirectly owned by a national of the United States at the time such damage, loss, or destruction occurred, which was a direct consequence of military ac- tion by Germany or Japan during the period beginning September 1, 1939, and ending Sep- tember 2, 1945; no award shall be made under this subsection in favor of any insurer or rein- surer as assignee or otherwise as successor in interest to the right of the insured; (c) net losses under war-risk insurance or re- insurance policies or contracts, incurred in the settlement of claims for insured losses of ships directly or indirectly owned by a na- tional of the United States at the time of the loss, damage, or destruction of such ships and at the time of the settlement of such claims, which insured losses were a direct consequence of military action by Germany or Japan dur- ing the period beginning September 1, 1939, and ending September 2, 1945; such net losses shall be determined by deducting from the ag- gregate of all payments made in the settle- ment of such insured losses the aggregate of the net amounts received by any such insur- ance companies on all policies of contracts of war-risk insurance or reinsurance on ships under which the insured was a national of the United States, after deducting expenses; and (d) loss or damage on account of— (1) the death of any person who, being then a civilian national of the United States and a passenger on any vessel engaged in com- merce on the high seas, died or was killed as a result of military action by Germany or Japan which occurred during the period be- ginning September 1, 1939, and ending De- cember 11, 1941; awards under this paragraph shall be made only to or for the benefit of the following persons in the order of priority named: (A) widow or husband if there is no child or children of the deceased; (B) widow or husband and child or chil- dren of the deceased, one-half to the widow or husband and the other half to the child or children of the deceased in equal shares; (C) child or children of the deceased (in equal shares) if there is no widow or hus- band; and (D) parents of the deceased (in equal shares) if there is no widow, husband, or child; (2) injury or permanent disability sus- tained by any person, who being then a civil- ian national of the United States and a pas- senger on any vessel engaged in commerce on the high seas, was injured or permanently disabled as a result of military action by Germany or Japan which occurred during the period beginning September 1, 1939, and ending December 11, 1941; awards under this paragraph shall be payable solely to the per- son so injured or disabled; (3) the loss or destruction, as a result of such action, of property on such vessel, as determined by the Commission to be reason- able, useful, necessary, or proper under the circumstances, which property was owned by any civilian national of the United States who was then a passenger on such vessel; and in the case of the death of any person suffering such loss, awards under this para- graph shall be made only to or for the ben- efit of the persons designated in paragraph (1) of this subsection and in the order of pri- ority named therein. (July 3, 1948, ch. 826, title II, § 202, as added Pub. L. 87–846, title I, § 103, Oct. 22, 1962, 76 Stat. 1107.) Editorial Notes REFERENCES IN TEXT The Philippine Rehabilitation Act of 1946, referred to in subsec. (a), is act Apr. 30, 1946, ch. 243, 60 Stat. 128, which was classified to sections 1751 to 1806 of the former Appendix to this title, prior to omission from the Code as terminated. CODIFICATION Section was formerly classified to section 2017a of the former Appendix to this title prior to editorial reclassi- fication and renumbering as this section. § 4133. Transfers and assignments The transfer or assignment for value of any property forming the subject matter of a claim under subsection (a) or (b) of section 4132 of this title subsequent to its damage, loss, or destruc- tion shall not operate to extinguish any claim of the transferor otherwise compensable under ei- ther of such subsections. If a claim which could otherwise be allowed under subsection (a) or (b) of section 4132 of this title has been assigned for value prior to October 22, 1962, the assignee shall be the party entitled to claim thereunder. (July 3, 1948, ch. 826, title II, § 203, as added Pub. L. 87–846, title I, § 103, Oct. 22, 1962, 76 Stat. 1109.) Editorial Notes CODIFICATION Section was formerly classified to section 2017b of the former Appendix to this title prior to editorial reclassi- fication and renumbering as this section. Page 1039 TITLE 50—WAR AND NATIONAL DEFENSE § 4136 § 4134. Nationality of claimants No claim shall be allowed under subsection (a), (b), or (c) of section 4132 of this title unless the property upon which it is based was owned by a national or nationals of the United States on the date of loss, damage, or destruction and un- less the claim was owned by a national or na- tionals of the United States continuously there- after until the date of filing with the Commis- sion pursuant to this subchapter. Where any per- son who lost United States citizenship solely by reason of marriage to a citizen or subject of a foreign country reacquired such citizenship be- fore October 22, 1962, then if such individual, but for such marriage would have been a national of the United States at all times on and after the date of such loss, damage, or destruction until the filing of the claim, such individual shall be treated for all purposes of this subchapter as having been a national of the United States at all such times. (July 3, 1948, ch. 826, title II, § 204, as added Pub. L. 87–846, title I, § 103, Oct. 22, 1962, 76 Stat. 1109.) Editorial Notes CODIFICATION Section was formerly classified to section 2017c of the former Appendix to this title prior to editorial reclassi- fication and renumbering as this section. § 4135. Claims of stockholders (a) Ownership interest in entity which is a na- tional 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 corpora- tion, 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 na- tional 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 re- quirement A claim under section 4132 of this title, based upon an indirect ownership interest in a cor- poration, association, or other entity which suf- fered 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 corpora- tion, association, or other entity, and shall bear the same proportion to such loss as the owner- ship interest of the claimant bears to the entire ownership interest thereof. (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 CODIFICATION Section was formerly classified to section 2017d of the former Appendix to this title prior to editorial reclassi- fication and renumbering as this section. § 4136. Deductions in making awards (a) In determining the amount of any award there shall be deducted all amounts the claim- ant has received on account of the same loss or losses with respect to which an award is made under this subchapter. (b) Each claim in excess of $10,000 filed under this subchapter by a corporation shall include a statement under oath disclosing the aggregate amount of Federal tax benefits derived by such corporation in any prior taxable year or years resulting from any deduction or deductions claimed for the loss or losses with respect to which such claim is filed. In determining the amount of any award where the allowable loss exceeds $10,000 there shall be deducted an amount equal to the aggregate amount of Fed- eral tax benefits so derived by the claimant. For the purposes of this subsection, such Federal tax benefits shall be the aggregate of the amounts by which the claimant’s taxes for such year or years under chapters 1, 2A, 2B, 2D, and 2E of the Internal Revenue Code of 1939, or subtitle A of the Internal Revenue Code of 1986 [26 U.S.C. 1 et seq.] were decreased with respect to such loss or losses. Any payments made on an award reduced by reason of this subsection shall be exempt from Federal income taxes. (July 3, 1948, ch. 826, title II, § 206, as added Pub. L. 87–846, title I, § 103, Oct. 22, 1962, 76 Stat. 1110; amended Pub. L. 99–514, § 2, Oct. 22, 1986, 100 Stat. 2095.) Editorial Notes REFERENCES IN TEXT The Internal Revenue Code of 1939, referred to in sub- sec. (b), was generally repealed by section 7851 of the Internal Revenue Code of 1954, Title 26. The Internal Revenue Code of 1954 was redesignated the Internal Revenue Code of 1986 by Pub. L. 99–514, § 2, Oct. 22, 1986, 100 Stat. 2095. For table of comparisons of the 1939 Code to the 1986 Code, see Table I preceding section 1 of Title 26, Internal Revenue Code. See also section 7852(b) of Title 26 for provision that references in any other law to a provision of the 1939 Code, unless expressly incom- patible with the intent thereof, shall be deemed a ref- erence to the corresponding provision of the 1986 Code. Chapter 1 of the Internal Revenue Code of 1939, re- ferred to in subsec. (b), was comprised of sections 1 to 482 of former Title 26, Internal Revenue Code. Section 14 of former Title 26 was repealed by act Oct. 20, 1951, ch. 521, title I, pt. II, § 121(g), 65 Stat. 469. Sections 34 and 185 of former Title 26 were repealed by act Feb. 25, 1944, ch. 63, title I, §§ 106(c)(2), 107(a), 58 Stat. 31. Sec- tions 264 and 363 of former Title 26 were repealed by act Oct. 21, 1942, ch. 619, title I, §§ 159(e), 170(a), 56 Stat. 860, 878. Sections 430 to 474 of former Title 26 were omitted from the Code, and subsequently, along with the re- maining 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. Sec- tions 143 and 144 of former Title 26 were repealed by section 7851(a)(1)(B) of Title 26.