Title 10 — Armed Forces
Part III · Chapter 853 — United States Naval Academy
§ 8473. Gifts, bequests, and loans of property: acceptance for benefit and use of Naval Academy
Statutory text
The Secretary of the Navy may accept, hold, administer, and spend any gift or bequest of personal property, and may accept, hold, and administer any loan of personal property other than money, that is made on the condition that it be used for the benefit of, or for use in connection with, the Naval Academy or the Naval Academy Museum, its collection, or its services. Gifts and bequests of money and the proceeds from the sales of property received as gifts shall be deposited in the Treasury in the fund called “United States Naval Academy Gift and Museum Fund”. The Secretary may disburse funds deposited under this subsection for the benefit or use of the Naval Academy (including the Naval Academy Museum) subject to the terms of the gift or bequest.
The Secretary shall prescribe written guidelines to be used for determinations of whether the acceptance of money, any personal property, or any loan of personal property under subsection (a) would reflect unfavorably on the ability of the Department of the Navy or any officer or employee of the Department of the Navy to carry out responsibilities or duties in a fair and objective manner, or would compromise either the integrity or the appearance of the integrity of any program of the Department of the Navy or any officer or employee of the Department of the Navy who is involved in any such program.
For the purpose of Federal income, estate, and gift taxes, property that is accepted under this section is considered as a gift or bequest to or for the use of the United States.
Upon the request of the Secretary of the Navy, the Secretary of the Treasury may invest, reinvest, or retain investments of money or securities comprising any part of the United States Naval Academy Gift and Museum Fund in securities of the United States or in securities guaranteed as to principal and interest by the United States. The interest and benefits accruing from those securities shall be deposited to the credit of the United States Naval Academy Gift and Museum Fund and may be disbursed as provided in this section.
Legislative history
Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.
Aug. 10, 1956, ch. 1041, 70A Stat. 436, § 6973 · 70A Stat. 436
Enacted · 10 U.S.C. § 8473
Aug. 10, 1956, ch. 1041, 70A Stat. 436, § 6973
Source evidence
Code source credit
Aug. 10, 1956, ch. 1041, 70A Stat. 436, § 6973Pub. L. 106–398 § 1(dA) · 114 Stat. 1654
Substituted · 10 U.S.C. § 8473
Pub. L. 106–398, § 1 [[div. A], title IX, § 942(c)(4)], substituted “Gifts, bequests, and loans of property: acceptance for benefit and use of Naval Academy” for “Gifts and bequests: acceptance for benefit of Naval Academy” as section catchline
Source evidence
Code amendment note
Pub. L. 106–398, § 1 [[div. A], title IX, § 942(c)(4)], substituted “Gifts, bequests, and loans of property: acceptance for benefit and use of Naval Academy” for “Gifts and bequests: acceptance for benefit of Naval Academy” as section catchline.Enacted provision · exact public law section
SECTION 1. ENACTMENT OF FISCAL YEAR 2001 NATIONAL DEFENSE AUTHORIZATION ACT. The provisions of H.R. 5408 of the 106th Congress, as introduced on October 6, 2000, are hereby enacted into law.Pub. L. 106–398 § 1(dA) · 114 Stat. 1654
Substituted · 10 U.S.C. § 8473(a)
Pub. L. 106–398, § 1 [[div. A], title IX, § 942(c)(1)], in first sentence, substituted “any gift or bequest of personal property, and may accept, hold, and administer any loan of personal property other than money, that is” for “gifts and bequests of personal property”
Inserted · 10 U.S.C. § 8473(a)
Pub. L. 106–398, § 1 [[div. A], title IX, § 942(c)(1)], in first sentence, inserted “or the Naval Academy Museum, its collection, or its services” before period at end, in second sentence
Substituted · 10 U.S.C. § 8473(a)
Pub. L. 106–398, § 1 [[div. A], title IX, § 942(c)(1)], in first sentence, substituted “United States Naval Academy Gift and Museum Fund” for “United States Naval Academy general gift fund”, and, in last sentence
Inserted · 10 U.S.C. § 8473(a)
Pub. L. 106–398, § 1 [[div. A], title IX, § 942(c)(1)], in first sentence, inserted “(including the Naval Academy Museum)” after “the Naval Academy”
Source evidence
Code amendment note
Subsec. (a). Pub. L. 106–398, § 1 [[div. A], title IX, § 942(c)(1)], in first sentence, substituted “any gift or bequest of personal property, and may accept, hold, and administer any loan of personal property other than money, that is” for “gifts and bequests of personal property” and inserted “or the Naval Academy Museum, its collection, or its services” before period at end, in second sentence, substituted “United States Naval Academy Gift and Museum Fund” for “United States Naval Academy general gift fund”, and, in last sentence, inserted “(including the Naval Academy Museum)” after “the Naval Academy”.Enacted provision · exact public law section
SECTION 1. ENACTMENT OF FISCAL YEAR 2001 NATIONAL DEFENSE AUTHORIZATION ACT. The provisions of H.R. 5408 of the 106th Congress, as introduced on October 6, 2000, are hereby enacted into law.Pub. L. 106–398 § 1(dA) · 114 Stat. 1654
Added · 10 U.S.C. § 8473(b); 10 U.S.C. § 8473(c)
Pub. L. 106–398, § 1 [[div. A], title IX, § 942(c)(2)], added subsec. (b)
Redesignated · 10 U.S.C. § 8473(b); 10 U.S.C. § 8473(c)
Pub. L. 106–398, § 1 [[div. A], title IX, § 942(c)(2)], redesignated former subsec. (b) as (c). Former subsec. (c) redesignated (d)
Source evidence
Code amendment note
Subsecs. (b), (c). Pub. L. 106–398, § 1 [[div. A], title IX, § 942(c)(2)], added subsec. (b) and redesignated former subsec. (b) as (c). Former subsec. (c) redesignated (d).Enacted provision · exact public law section
SECTION 1. ENACTMENT OF FISCAL YEAR 2001 NATIONAL DEFENSE AUTHORIZATION ACT. The provisions of H.R. 5408 of the 106th Congress, as introduced on October 6, 2000, are hereby enacted into law.Pub. L. 106–398 § 1(dA) · 114 Stat. 1654
Substituted · 10 U.S.C. § 8473(d)
Pub. L. 106–398, § 1 [[div. A], title IX, § 942(c)(3)], substituted “United States Naval Academy Gift and Museum Fund” for “United States Naval Academy general gift fund” in two places
Source evidence
Code amendment note
Subsec. (d). Pub. L. 106–398, § 1 [[div. A], title IX, § 942(c)(3)], substituted “United States Naval Academy Gift and Museum Fund” for “United States Naval Academy general gift fund” in two places.Enacted provision · exact public law section
SECTION 1. ENACTMENT OF FISCAL YEAR 2001 NATIONAL DEFENSE AUTHORIZATION ACT. The provisions of H.R. 5408 of the 106th Congress, as introduced on October 6, 2000, are hereby enacted into law.Pub. L. 106–398 § 1(dA) · 114 Stat. 1654
Redesignated · 10 U.S.C. § 8473(d)
Pub. L. 106–398, § 1 [[div. A], title IX, § 942(c)(2)(A)], redesignated subsec. (c) as (d)
Target inherited from the preceding amendment note.
Source evidence
Code amendment note
Pub. L. 106–398, § 1 [[div. A], title IX, § 942(c)(2)(A)], redesignated subsec. (c) as (d).Enacted provision · exact public law section
SECTION 1. ENACTMENT OF FISCAL YEAR 2001 NATIONAL DEFENSE AUTHORIZATION ACT. The provisions of H.R. 5408 of the 106th Congress, as introduced on October 6, 2000, are hereby enacted into law.John S. McCain National Defense Authorization Act for Fiscal Year 2019
Pub. L. 115–232 div. A title VIII § 807(c)(1) · 132 Stat. 1636
Changed · 10 U.S.C. § 8473
Pub. L. 115–232 renumbered section 6973 of this title as this section
Source evidence
Code amendment note
Pub. L. 115–232 renumbered section 6973 of this title as this section.Enacted provision · exact public law section
(1) In general.— Except as provided in paragraph (2), each section in part III of such subtitle is 10 USC 8411–8413, 8415, 8431, 8451–8456, 8458–8481, 8541–8550, 8581–8588. redesignated so that the number of the section, as redesignated, is the number equal to the previous number plus 1,500.Effective date note
Amendment by Pub. L. 115–232 effective Feb. 1, 2019, with provision for the coordination of amendments and special rule for certain redesignations, see section 800 of Pub. L. 115–232, set out as a note preceding section 3001 of this title.
10 of 11 references resolved to an enrolled provision · 1 partial
Notes
historicalAndRevision
| Historical and Revision Notes | ||
|---|---|---|
| Revised section | Source (U.S. Code) | Source (Statutes at Large) |
| 6973(a) | 34 U.S.C. 1115. | Mar. 31, 1944, ch. 147, § 1, 58 Stat. 135. |
| 34 U.S.C. 1115a. | Mar. 31, 1944, ch. 147, § 2, 58 Stat. 135. | |
| 6973(b) | 34 U.S.C. 1115b. | Mar. 31, 1944, ch. 147, § 3, 58 Stat. 135. |
| 6973(c) | 34 U.S.C. 1115c. | Mar. 31, 1944, ch. 147, § 4, 58 Stat. 135. |
Editorial Notes
Amendments2000–2018 · 2 rounds
2018
Pub. L. 115–232 renumbered section 6973 of this title as this section.
2000
Pub. L. 106–398, § 1 [[div. A], title IX, § 942(c)(4)], substituted “Gifts, bequests, and loans of property: acceptance for benefit and use of Naval Academy” for “Gifts and bequests: acceptance for benefit of Naval Academy” as section catchline.
Subsec. (a). Pub. L. 106–398, § 1 [[div. A], title IX, § 942(c)(1)], in first sentence, substituted “any gift or bequest of personal property, and may accept, hold, and administer any loan of personal property other than money, that is” for “gifts and bequests of personal property” and inserted “or the Naval Academy Museum, its collection, or its services” before period at end, in second sentence, substituted “United States Naval Academy Gift and Museum Fund” for “United States Naval Academy general gift fund”, and, in last sentence, inserted “(including the Naval Academy Museum)” after “the Naval Academy”.
Subsecs. (b), (c). Pub. L. 106–398, § 1 [[div. A], title IX, § 942(c)(2)], added subsec. (b) and redesignated former subsec. (b) as (c). Former subsec. (c) redesignated (d).
Subsec. (d). Pub. L. 106–398, § 1 [[div. A], title IX, § 942(c)(3)], substituted “United States Naval Academy Gift and Museum Fund” for “United States Naval Academy general gift fund” in two places.
Pub. L. 106–398, § 1 [[div. A], title IX, § 942(c)(2)(A)], redesignated subsec. (c) as (d).
Statutory Notes and Related Subsidiaries
Effective Date of 2018 Amendment
Amendment by Pub. L. 115–232 effective , with provision for the coordination of amendments and special rule for certain redesignations, see section 800 of Pub. L. 115–232, set out as a note preceding section 3001 of this title.
Credits
1956–2018 · 3 acts
- 1956Aug. 10, 1956, ch. 1041, 70A Stat. 436, § 6973
- 2000Pub. L. 106–398, § 1 [[div. A], title IX, § 942(c)], , 114 Stat. 1654, 1654A–241
- 2018renumbered § 8473, Pub. L. 115–232, div. A, title VIII, § 807(c)(1), , 132 Stat. 1836.
Show as published
(Aug. 10, 1956, ch. 1041, 70A Stat. 436, § 6973; Pub. L. 106–398, § 1 [[div. A], title IX, § 942(c)], , 114 Stat. 1654, 1654A–241; renumbered § 8473, Pub. L. 115–232, div. A, title VIII, § 807(c)(1), , 132 Stat. 1836.)