Page:United States Statutes at Large Volume 54 Part 1.djvu/1063

 54 STAT.] 76TH CONG. , 3D SESS.-CHS. 777-779-OCT. 9, 1940 SEC. 9. This Act shall become effective six months after the date of approval, except as to subsection (7) of section 1 hereof, which sub- section shall become effective on the date of approval. Such initial regulations as may be necessary to make the Act effective shall be promulgated within ninety days from the date of approval hereof: Provided,however, That during any national emergency proclaimed by the President, he may, in his discretion, accelerate any or all provisions of this section. SEC. 10. If any provision of this Act, or the application thereof to any person or circumstance is held invalid, the remainder of the Act, and the application of the provisions thereof, shall not be affected thereby. Approved, October 9, 1940, [CHAPTER 778] AN ACT To authorize the Secretary of the Treasury to order retired commissioned and warrant officers of the Coast Guard to active duty during time of national emergency, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That any commis- sioned or warrant officer of the Coast Guard on the retired list may at any time, with his consent, in the discretion of the Secretary of the Treasury, be ordered to active duty. SEC. 2. That all authority or discretion vested in the Secretary of the Navy to order commissioned and warrant officers of the Coast Guard on the retired list to active duty while the Coast Guard is not operating as a part of the Navy, is hereby transferred to and vested in the Secretary of the Treasury, Approved, October 9, 1940. [CHAPTER 779] AN ACT To assist in the national-defense program by amending sections 3477 and 3737 of the Revised Statutes to permit the assignment of claims under public contracts. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That sections 3477 and 3737 of the Revised Statutes be amended by adding at the end of each such section the following new paragraph: "The provisions of the preceding paragraph shall not apply in any case in which the moneys due or to become due from the United States or from any agency or department thereof, under a contract providing for payments aggregating $1,000 or more, are assigned to a bank, trust company, or other financing institution, including any Federal lending agency: Provided, "1. That in the case of any contract entered into prior to the date of approval of the Assignment of Claims Act of 1940, no claim shall be assigned without the consent of the head of the department or agency concerned; "2. That in the case of any contract entered into after the date of approval of the Assignment of Claims Act of 1940, no claim shall be assigned if it arises under a contract which forbids such assignment; "3. That unless otherwise expressly permitted by such contract any such assignment shall cover all amounts payable under such contract and not already paid, shall not be made to more than one party, and shall not be subject to further assignment, except that 1029 Effective dates. Promulgation ofini- tial regulations. Proviso. Aceleration of pro- visions during na- tional emergency. Separability of pro- visions. October 9, 1940 [H. R. 103371 [Public, No. 8101 Coast Guard. Active duty of re- tired officers. Transfer of author- ity. October 9, 1940 [H. R. 10464] [Public, No. 8111 Assignment of Clalina Act of 1940. 31 . H.C. 5213; 41 U. .C.. 5. Assignment of claims upon U. S. to banks, etc. Protvo. Prior contracts; con- sent to assignment. Contracts forbid- ding assignment. Limitations on as- signment.

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