Title 22 — Foreign Relations and Intercourse
Chapter 21 — Settlement of International Claims
§ 1641j. Claims by corporations or other legal entities
Statutory text
If a corporation or other legal entity has a claim on which an award may be made under this subchapter, no award may be made to any other person under this subchapter with respect to such claim.
A claim based upon an interest, direct or indirect, in a corporation or other legal entity which directly suffered the loss with respect to which the claim is asserted, but which was not a national of the United States at the time of the loss, shall be acted upon without regard to the nationality of such legal entity if at the time of the loss at least 25 per centum of the outstanding capital stock or other beneficial interest in such entity was owned, directly or indirectly, by natural persons who were nationals of the United States. This subsection shall not be construed so as to exclude from eligibility a claim based upon a direct ownership interest in a corporation, association, or other entity, or the property thereof, for loss by reason of the nationalization, compulsory liquidation, or other taking of such corporation, association, or other entity by the Governments of Bulgaria, Hungary, Italy, Rumania, or the Soviet Government. Any such claim may be allowed without regard to the per centum of ownership vested in the claimant.
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.
Pub. L. 84–54 · 69 Stat. 80
Enacted · 22 U.S.C. § 1641j
Mar. 10, 1950, ch. 54, title III, § 311, as added Aug. 9, 1955, ch. 645, § 3, 69 Stat. 573
Source evidence
Code source credit
Mar. 10, 1950, ch. 54, title III, § 311, as added Aug. 9, 1955, ch. 645, § 3, 69 Stat. 573Pub. L. 85–604 § 3(a) · 72 Stat. 527
Changed · 22 U.S.C. § 1641j(b)
Pub. L. 85–604 provided that it shall not be construed so as to exclude from eligibility a claim based upon a direct ownership interest in a corporation, association, or other entity, or the property thereof, for loss by reason of the nationalization, compulsory liquidation, or other taking, and permitted allowance of such claim without regard to the per centum of ownership vested in the claimant
Source evidence
Code amendment note
Subsec. (b). Pub. L. 85–604 provided that it shall not be construed so as to exclude from eligibility a claim based upon a direct ownership interest in a corporation, association, or other entity, or the property thereof, for loss by reason of the nationalization, compulsory liquidation, or other taking, and permitted allowance of such claim without regard to the per centum of ownership vested in the claimant.Enacted provision · exact public law section
(a) Subsection (b) of section 311 of the International Claims by corporations. 22 USC 1641j. Claims Settlement Act of 1949, as amended, is amended by adding at the end thereof the following: “This subsection shall not be construed so as to exclude from eligibility a claim based upon a direct ownership interest in a corporation, association, or other entity, or the property thereof, for loss by reason of the nationalization, compulsory liquidation, or other taking of such corporation, association, or other entity by the Governments of Bulgaria, Hungary, Italy, Rumania, or the Soviet Government. Any such claim may be allowed without regard to the per centum of ownership vested in the claimant.”
1 of 2 references resolved to an enrolled provision · 1 partial
Editorial Notes
Amendments
1958—Subsec. (b). Pub. L. 85–604 provided that it shall not be construed so as to exclude from eligibility a claim based upon a direct ownership interest in a corporation, association, or other entity, or the property thereof, for loss by reason of the nationalization, compulsory liquidation, or other taking, and permitted allowance of such claim without regard to the per centum of ownership vested in the claimant.
Statutory Notes and Related Subsidiaries
Reconsideration of Claims
Pub. L. 85–604, § 3(b), , 72 Stat. 531, provided that any claim heretofore denied under subsec. (b) of this section, prior to , would be reconsidered by the Foreign Claims Settlement Commission solely to redetermine its validity and amount.
Credits
1950–1958 · 2 acts
- 1950Mar. 10, 1950, ch. 54, title III, § 311, as added Aug. 9, 1955, ch. 645, § 3, 69 Stat. 573
- 1958amended Pub. L. 85–604, § 3(a), , 72 Stat. 531.
Show as published
(Mar. 10, 1950, ch. 54, title III, § 311, as added Aug. 9, 1955, ch. 645, § 3, 69 Stat. 573; amended Pub. L. 85–604, § 3(a), , 72 Stat. 531.)