Page:United States Statutes at Large Volume 45 Part 1.djvu/748

 SEVENTIETH CONGRESS. SEss. I. CH. 675. 1928 . TITLE V-INSURA NCE FUND SEC. 501. Section 10 of the Merchant Marine Act, 1920 [U. S. C ., Title 46, « 869], is amended to read as follows " SEC . 10 . That the boa rd may create out of insur ance premiums, and revenue from operations and sales, and maintain and administer separate insurance funds which it may use to insure in whole or in part against all hazards commonly covered by insurance policies in such cases, any legal or equitable interest of the United States (1) in any vessel constructed or in process of construction ; and (2) in any plants or property in the possession or under the authority of the b oard. The United States shall be held to have such an interest in any vessel toward the construction, reconditioning, re- modeling, improving, or equipping of which a loan has been made under the authority of this Act, in any vessel upon which it holds a mortgage or lien of any character, or in any vessel which is ob ligate d by c ontrac t wit h the owner to pe rform any s ervice in be half o f the U nited S tates, to the extent of th e Gover nment's inter est therein ." TITLE VI-TRANSPORTATION OF GOVERNMENT OFFICIA LS SEC . 601 . Any officer or employee of the United States traveling on official business overseas to foreign countries, or to any of the posses- sions of the United States, shall travel and transport his personal effects on ships registered under the laws of the United States when such ships are available, unless the necessity of his mission requires the use of a ship under a foreign flag : Provided, That the Comp- troller General of the United States shall not credit any allowance for travel or shipping expenses incurred on a foreign ship in the absence of satisfactory proof of the necessity therefor . TITLE VII -MIS CELL ANEO US AUTHORIZATION OF APPROPRIATIONS 697 Insurance fund . V ol. 41, p. 992, amend . ed. U.S. Code, p. 1536. Authorized for Gov- ernment interest in ves- sels, plants, etc . Eatent of interest stated. Tr ans por tat ion of Government officials. Use of American ships when traveling to foreign countries. Proviso. Proof of necessity re- quired for travel on foreign ships. Appropriations au- thorized. Requisition of ves. sels. For national defense. Vessels under con- tract from loan fund. Ante, p. 690. Ocean mail contract vessels. Compen sation, if bought. Used, but not pur ch ased. SEC. 701 . The appropriations necessary to carry out the provisions and accomplish the purposes of this Act are hereby authorized. REQUISITION OF VESSELS SEC. 702. (a) The following vessels may be taken and purchased or used by the United States for national defense or during any national emergency declared by proclamation of the President (1) Any vessel i n respect of which, under a contract her eafter entered into, a loan is made from the construction loan fund created by section 11 of the Merchant Marine Act, 1920, as amended-at any time until the principal and interest of the loan has been paid (2) Any vessel in respect of which an ocean mail contract is made un er Title IV of this Act-at any time during the period for which the contract is made. (b) In such event the owner shall be paid the fair actual value of the vessel at the time of taking, or paid the fair compensation for her use based upon such fair actual value ; but in neither case shall such fair actual value be enhanced by the causes necessitating the taking. In the case of a vessel taken and used, but not purchased, the vessel shall be restored to the owner in a condition at least as good as when taken, less reasonable wear and tear, or the owner shall be paid an amount for reconditioning sufficient to place the vessel in No consequential such condition. The owner shall not be paid for any consequential dama g es. damages arising from such taking and purchase or use.
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