IN OTHER SECTIONS. This section is referred to in sections 1162, 1177, 1183 of this Appendix. § 1157. Construction of new vessel to replace ob- solete; purchase of old vessel by Secretary; bond of seller against liens If a contract is made by the Secretary of Transportation under authority of this sub- chapter for the construction and sale of a new vessel to replace a vessel then operated in for- eign trade or domestic trade, which in the judg- ment of the Secretary of Transportation should be replaced because it is obsolete or inadequate for successful operation in such trade, the Sec- retary of Transportation is authorized, in his discretion, to buy such replaced vessel from the owner at a fair and reasonable valuation, which valuation shall not exceed the cost to the owner or any former owner plus the actual cost pre- viously expended thereon for reconditioning, and less a reasonable and proper depreciation, based upon not more than twenty-five-year life of the vessel, and apply the purchase price agreed upon to that portion of the construction cost of such new vessel which is to be borne by the purchaser thereof: Provided, That the owner of such replaced vessel shall execute a bond, with one or more approved sureties, conditioned upon indemnifying the United States from all loss resulting from any existing lien against such vessel: And provided further, That such ves- sel has been documented under the laws of the United States for a period of at least ten years prior to the date of its purchase by the United States. (June 29, 1936, ch. 858, title V, § 507, 49 Stat. 2000; June 23, 1938, ch. 600, § 19, 52 Stat. 959; July 17, 1952, ch. 939, § 5, 66 Stat. 761; Pub. L. 86–518, § 1, June 12, 1960, 74 Stat. 216; Pub. L. 97–31, § 12(88), Aug. 6, 1981, 95 Stat. 161.) AMENDMENTS 1981—Pub. L. 97–31 substituted ‘‘Secretary of Trans- portation’’ for ‘‘Commission’’ in three places and ‘‘his’’ for ‘‘its’’. For prior transfers of functions of the Com- mission, meaning the United States Maritime Commis- sion, see Transfer of Functions note below. 1960—Pub. L. 86–518 substituted ‘‘twenty-five-year life’’ for ‘‘twenty-year life’’. 1952—Act July 17, 1952, made section applicable to vessels in domestic trade. 1938—Act June 23, 1938, struck out provisions which authorized a deduction for obsolescence. EFFECTIVE DATE OF 1960 AMENDMENT Amendment by Pub. L. 86–518 applicable only to ves- sels delivered by the shipbuilder on or after Jan. 1, 1946, and with respect to such vessels shall become eff...
IN OTHER SECTIONS. This section is referred to in sections 288, 357 of this title; title 10 section 1406. § 424. Limitations on retirement and retired pay
IN OTHER SECTIONS. This section is referred to in sections 5602, 5614 of this title.
IN OTHER SECTIONS. This section is referred to in sections 1a, 2, 7a–1, 16, 27, 27d, 27f of this title; title 15 section 78c. § 27b. Exclusion of certain identified banking products offered by banks after December 5, 2000 No provision of the Commodity Exchange Act [7 U.S.C. 1 et seq.] shall apply to, and the Com- modity Futures Trading Commission shall not exercise regulatory authority with respect to, an identified banking product which had not been commonly offered, entered into, or pro- vided in the United States by any bank on or be- fore December 5, 2000, under applicable banking law if—
IN OTHER SECTIONS. This section is referred to in sections 1a, 2, 7a–1, 16, 27, 27d, 27f of this title; title 15 section 78c. § 27c. Exclusion of certain other identified bank- ing products
IN OTHER SECTIONS. This section is referred to in sections 1133, 44701, 44703, 44711, 44726, 45302, 46310, 47531 of this title. § 44711. Prohibitions and exemption
IN OTHER SECTIONS. This section is referred to in sections 44701, 44711, 45302, 46310, 47531 of this title. § 44715. Controlling aircraft noise and sonic boom
IN OTHER SECTIONS. This section is referred to in sections 106, 46301, 46316 of this title. § 44719. Standards for navigational aids The Secretary of Transportation shall pre- scribe regulations on standards for installing navigational aids, including airport control tow- ers. For each type of facility, the regulations shall consider at a minimum traffic density (number of aircraft operations without consider- ation of aircraft size), terrain and other obsta- cles to navigation, weather characteristics, pas- sengers served, and potential aircraft operating efficiencies. (Pub. L. 103–272, § 1(e), July 5, 1994, 108 Stat. 1201.) Revised Section Source (U.S. Code) Source (Statutes at Large) 44719 .......... 49 App.:1348 (note). Dec. 30, 1987, Pub. L. 100–223, § 308, 101 Stat. 1526. HISTORICAL AND REVISION NOTES
IN OTHER SECTIONS. This section is referred to in section 106 of this title; title 26 section 4261.
