Page:United States Statutes at Large Volume 40 Part 1.djvu/1167

 SIXTY-FIFTH CONGRESS. Sess. III. C11. 18. 1919. 1149 The acceptance of such United States bonds in lieu of surety or sureties ¤¤{g¥*{{hA°* g' ¤¤*·¤· required by law shall have the same force and effect as individual °° °r°°' or corporate sureties, or certified checks, bank drafts, post-office money orders, or cash, for the penalty or amount of such penal bond. _ _ The bonds deposited hereunder, and such other United States bonds m$‘§§’§l“““°“ *’°" as may be su stituted therefor from time to time as such security, may be deposited with the Treasurer, or an Assistant ’l‘reasurer of the United States, a Government depository Federal Reserve bank, or member bank, which shall issue receipt therefor, describing such Rat t d it bonds so deposited. As soon as security for the performance of such um ° °°°° "' penal bond is no longer necessary, such bonds so deposited, shall e returned to the depositor: Promlled, That in case a person or ggggimu 0, bond persons supplyingoa contractor with labor or material as provided or defaultiug comm. y the Act of ngress, approved February 24, 1905 (33 Stat., ‘°§·§{*§;§‘§{“8§‘f"“· 811), entitled "An Act to amend an Act approved August thirteenth, eighteen hundred and ninety-four, entitled) ‘An Act for- the protection of persons furnishing materials and labor for the construction of pubue works; ·* sian me with are ebugee, at any time after s .,,g,¤;:;},*,°;,i*::;Py $*1** default in the performance of any contract subject to said Acts, the application and affidavit therein provided, the obliglee shall not deliver to the obligor the deposited bonds nor any snap usproceeds thereof imtil the expiration of the time limited by said Acts for the institution of suit by such person orhpersons, an, in case suit shall be instituted within such time, sh hold said bonds or proceeds subject to the order of the court having jurisdiction thereof: rovided further, That nothing herein contained shall affect or impair the S,¥L°*x{g{_g‘wtl;g_i¤¤ priority of the claim of the United States against the bonds deposited or an right or remedy granted by said cts or by this section to the United States for default upon any obligation of said penal bond: Promkled further, That all laws inconsistent with this section are c0§s,•jt*,§n°:{;9_§&°* i¤· hereb so modified as to conform to the provisions hereof: And further, That nothing contained herein shall affect the m{§sd{]$*,Q§;Hgg;d¤*¤· authority of courts over the security, where such bonds are taken ` as security in judicial proceedings, or the authority of any administrative officer of the United States to receive United States bonds for security in cases authorized by existing laws. The Secretary may E¤'°*°°¤°¤*· prescribe rules and regulations necessary and proper for carrying this section into effect. TITLE XIV.-—GENERAL PROVISIONS. G¤¤·=¤¤¤#¤~*~¤<>¤<- Sec. 1400. (a) That the following parts of Acts are hereby repealed, L°”“ '°"°"°"‘ subject to the limitations provide in subdivision (b): (1) The followin titles of the Revenue Act of 1916: R°""°“° A°‘°“°‘“· Title I (called "E1come Tax"); V°*·3°·PP-litm- Title II (called “Estate Tax"); 'I‘itle III (called "Munitions M8HUl8CtHI’GIS’ Tax"), as amended; 'I‘itle IV (called "Miscel1aneous Taxes"). A t [M ha lm (2) The following parts of the Act entitled "A11 Act to provide v$i_° 3g,"§p_ Am; increased revenue to defray the expenses of the increased appropria- 1°°“· tions for the Army and Navy and the extensions of fortifications, and for other urposm," approved March 3, 1917: Title IIT (called “Estate Tax"); _ E$“f*°*“'“ Section 402 (called "Returns of Div1dends"). D‘“d°“"s·, (3) The followi titles of the Revenue Act of 1917: ,9§“ R‘“'°““" *‘°‘°‘ Title I (called ‘}% ar Income Tax"); AM, m>· 300437- Title II (called “War Excess-Profits Tax"); Title lll (called “War Tax on Beverages"); Title IV (called "War Tax on Cigars, Tobacco, and Manufactures Thereof") ;