§ 1641i. — Payment of awards.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 22USC1641i]
TITLE 22--FOREIGN RELATIONS AND INTERCOURSE
CHAPTER 21--SETTLEMENT OF INTERNATIONAL CLAIMS
SUBCHAPTER III--CLAIMS AGAINST BULGARIA, HUNGARY, RUMANIA, ITALY, AND
THE SOVIET UNION
Sec. 1641i. Payment of awards
(a) Manner of payment
The Secretary of the Treasury shall make payments on account of
awards certified by the Commission pursuant to this subchapter as
follows:
(1) Payment in full of the principal amount of each award made
pursuant to section 1641d(a)(1) of this title and each award of
$1,000 or less made pursuant to section 1641b or 1641c of this
title;
(2) Payment in full of the principal amount of each award of
$1,000 or less made pursuant to section 1641d(a)(2) of this title;
(3) Payment in the amount of $1,000 on account of the principal
of each award of more than $1,000 in amount made pursuant to section
1641b, 1641c, or 1641d(a)(2) of this title;
(4) After completing the payments under the preceding paragraphs
of this subsection from any one fund, payments from time to time, in
ratable proportions, on account of the then unpaid principal of all
awards in the principal amount of more than $1,000, according to the
proportions which the unpaid principal of such awards bear to the
total amount in the fund available for distribution on account of
such awards at the time such payments are made;
(5) After payment has been made in full of the principal amounts
of all awards from any one fund, pro rata payments from the
remainder of such fund then available for distribution on account of
accrued interest on such awards as bear interest;
(6) Whenever the Commission is authorized to settle claims by
the enactment of paragraph (4) of section 1641b of this title with
respect to Rumania and Bulgaria, no further payments shall be
authorized by the Secretary of the Treasury on account of awards
certified by the Commission pursuant to paragraph (1), (2), or (3)
of section 1641b of this title of the Bulgarian or Rumanian Claims
Funds, as the case may be, until payments on account of awards
certified pursuant to paragraph (4) of section 1641b of this title
with respect to such fund have been authorized in equal proportion
to payments previously authorized on existing awards certified
pursuant to paragraphs (1), (2), and (3) of section 1641b of this
title.
(7)(A) Except as otherwise provided in subparagraph (D),
whenever the Commission is authorized to settle claims by enactment
of paragraph (5) of section 1641b of this title with respect to
Hungary, no further payments shall be authorized by the Secretary of
the Treasury on account of awards certified by the Commission under
paragraphs (2) and (3) of section 1641b of this title out of the
Hungarian Claims Fund until payments on account of awards certified
under paragraph (5) of section 1641b of this title with respect to
such fund have been authorized in equal proportions to payments
previously authorized on existing awards certified under paragraphs
(2) and (3) of section 1641b of this title.
(B) Except as otherwise provided in subparagraph (D), with
respect to awards previously certified under paragraph (1) of
section 1641b of this title, the Secretary of the Treasury shall not
authorize any further payments until payments on account of awards
certified under paragraphs (2), (3), and (5) of section 1641b of
this title have been authorized in equal proportions to payments
previously authorized on existing awards certified under paragraph
(1) of section 1641b of this title.
(C) Except as otherwise provided in subparagraph (D), the
Secretary of the Treasury shall not authorize any further payments
on account of awards certified under paragraph (3) of section 1641b
of this title based on Kingdom of Hungary bonds expressed in United
States dollars or upon awards to Standstill creditors of Hungary
that were the subject matter of the agreement of December 5, 1969,
between the Government of Hungary and the American Committee for
Standstill creditors of Hungary.
(D) No payments shall be authorized by the Secretary of the
Treasury on account of awards certified by the Commission under
paragraph (5) of section 1641b of this title, and no further
payments shall be so authorized under paragraphs (1), (2), or (3) of
section 1641b of this title (except payments certified as the result
of claims filed under subsection (d) of section 1641e of this
title), until payments on account of awards certified under such
paragraphs (1), (2), and (3) as the result of a claims \1\ filed
under subsection (d) of section 1641e of this title have been
authorized in equal proportions to payments previously authorized on
existing awards certified under such paragraphs and arising out of
claims filed other than under such subsection (d).
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\1\ So in original. Probably should be ``claim''.
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(E) The Secretary of the Treasury is authorized and directed to
deduct the sum of $125,000 from the Hungarian Claims Fund and cover
such amount into the Treasury to the credit of miscellaneous
receipts in satisfaction of the claim of the United States referred
to in article 2, paragraph 4 of the United States-Hungarian Claims
Agreement of March 6, 1973. Such amount shall be deducted in annual
installments over the period during which the Government of Hungary
makes payments to the Government of the United States as provided in
article 4 of the agreement.
(b) Regulations
Such payments, and applications for such payments, shall be made in
accordance with such regulations as the Secretary of the Treasury shall
prescribe.
(c) ``Award'' defined
For the purposes of making any such payments, an ``award'' shall be
deemed to mean the aggregate of all awards certified in favor of the
same claimant and payable from the same fund.
(d) Consolidated award
With respect to any claim which, at the time of the award, is vested
in persons other than the person to whom the claim originally accrued,
the Commission may issue a consolidated award in favor of all claimants
then entitled thereto, which award shall indicate the respective
interests of such claimants therein; and all such claimants shall
participate, in proportion to their indicated interests, in the payments
provided by this section in all respects as if the award had been in
favor of a single person.
(Mar. 10, 1950, ch. 54, title III, Sec. 310, as added Aug. 9, 1955, ch.
645, Sec. 3, 69 Stat. 573; amended Pub. L. 90-421, Sec. 1(13), July 24,
1968, 82 Stat. 423; Pub. L. 93-460, Sec. 1(5), Oct. 20, 1974, 88 Stat.
1386.)
Amendments
1974--Subsec. (a)(7). Pub. L. 93-460 added par. (7).
1968--Subsec. (a)(6). Pub. L. 90-421 added par. (6).
Section Referred to in Other Sections
This section is referred to in sections 1641a, 1641c of this title;
title 50 App. section 2017l.
