Volume 68
Public Law 83–688
To amend section 47 of the National Defense Act concerning the requirement for bond covering certain property issued by the United States for use by Reserve Officers’ Training Corps units maintained at educational Institutions.
Approved August 28, 1954
Statutory text
AN ACT
To amend section 47 of the National Defense Act concerning the requirement for bond covering certain property issued by the United States for use by Reserve Officers’ Training Corps units maintained at educational Institutions.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
That section 47 of the National Defense Act, as amended (10 U. S. C. 389), is further amended by deleting the last sentence thereof and substituting in lieu thereof the following: “The Secretary of the Army, or the Secretary of the Air Force in the case of property of the Department of the Air Force, shall require a bond or other indemnity in such amount as he considers adequate, but in no event less than $5,000, for the care and safekeeping of all such Government property issued to an educational institution, except uniforms, expendable articles, and supplies expended in operation, maintenance and instruction.” A bond without surety thereon may be accepted by the Secretary of the Army or the Secretary of the Air Force, provided the institution to which the property is issued furnishes to the Secretary concerned satisfactory evidence of its financial responsibility.
Approved August 28, 1954.