Title 22 — Foreign Relations and Intercourse
Chapter 21 — Settlement of International Claims
§ 1643d. Claims based on ownership interest in or debt or other obligations owing by corporations or other legal entities
Statutory text
Nationals of the United States; charge on property
A claim under section 1643b(a) of this title based upon an ownership interest in any corporation, association, or other entity which is a national of the United States shall not be considered. A claim under section 1643b(a) of this title based upon a debt or other obligation owing by any corporation, association, or other entity organized under the laws of the United States, or of any State, the District of Columbia, or the Commonwealth of Puerto Rico shall be considered, only when such debt or other obligation is a charge on property which has been nationalized, expropriated, intervened, or taken by the Government of Cuba, or the Chinese Communist regime.
Direct ownership
A claim under section 1643b(a) of this title based upon a direct ownership interest in a corporation, association, or other entity for loss shall be considered, subject to the other provisions of this subchapter, if such corporation, association, or other entity on the date of the loss was not a national of the United States, without regard to the per centum of ownership vested in the claimant.
Indirect ownership
A claim under section 1643b(a) of this title based upon an indirect ownership interest in a corporation, association, or other entity for loss shall be considered, subject to the 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.
Computation of award
The amount of any claim covered by subsection (b) or (c) of this section shall be calculated on the basis of the total loss suffered by such corporation, association, or other entity, and shall bear the same proportion to such loss as the ownership interest of the claimant at the time of loss bears to the entire ownership interest thereof.
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. 88–666 · 78 Stat. 1110
Enacted · 22 U.S.C. § 1643d
Mar. 10, 1950, ch. 54, title V, § 505, as added Pub. L. 88–666, Oct. 16, 1964, 78 Stat. 1111
Source evidence
Code source credit
Mar. 10, 1950, ch. 54, title V, § 505, as added Pub. L. 88–666, Oct. 16, 1964, 78 Stat. 1111Pub. L. 89–262 § 3 · 79 Stat. 988
Changed · 22 U.S.C. § 1643d(a)
Pub. L. 89–262 authorized consideration of claims based on debt or other obligation owing by corporations or other legal entities which is a charge on property nationalized, expropriated, intervened, or taken by Government of Cuba
Source evidence
Code amendment note
Subsec. (a). Pub. L. 89–262 authorized consideration of claims based on debt or other obligation owing by corporations or other legal entities which is a charge on property nationalized, expropriated, intervened, or taken by Government of Cuba.Enacted provision · exact public law section
Sec. 3. Section 505(a) of such Act (22 U.S.C. 1643d) is amended by adding a new sentence at the end thereof as follows: “A claim under section 503(a) of this title based upon a debt or other obligation owing by any corporation, association, or other entity organized under the laws of the United States, or of any State, the District of Columbia, or the Commonwealth of Puerto Rico shall be considered, only when such debt or other obligation is a charge on property which has been nationalized, expropriated, intervened, or taken by the Government of Cuba.”Pub. L. 89–780 § 4 · 80 Stat. 1365
Changed · 22 U.S.C. § 1643d(a)
Pub. L. 89–780 provided for applicability of subsection to property nationalized or taken by the Chinese Communist regime
Source evidence
Code amendment note
Subsec. (a). Pub. L. 89–780 provided for applicability of subsection to property nationalized or taken by the Chinese Communist regime.Enacted provision · exact public law section
Sec. 4. Section 505(a) of such Act (22 U.S.C. 1643d) is amended by inserting before the period at the end thereof a comma and the following: “or the Chinese Communist regime”.
2 of 3 references resolved to an enrolled provision · 1 partial
Editorial Notes
Amendments1965–1966 · 2 rounds
1966
Subsec. (a). Pub. L. 89–780 provided for applicability of subsection to property nationalized or taken by the Chinese Communist regime.
1965
Subsec. (a). Pub. L. 89–262 authorized consideration of claims based on debt or other obligation owing by corporations or other legal entities which is a charge on property nationalized, expropriated, intervened, or taken by Government of Cuba.
Credits
1950–1966 · 3 acts
- 1950Mar. 10, 1950, ch. 54, title V, § 505, as added Pub. L. 88–666, , 78 Stat. 1111
- 1965amended Pub. L. 89–262, § 3, , 79 Stat. 988
- 1966Pub. L. 89–780, § 4, , 80 Stat. 1365.
Show as published
(Mar. 10, 1950, ch. 54, title V, § 505, as added Pub. L. 88–666, , 78 Stat. 1111; amended Pub. L. 89–262, § 3, , 79 Stat. 988; Pub. L. 89–780, § 4, , 80 Stat. 1365.)