Page:United States Statutes at Large Volume 59 Part 1.djvu/66

 PUBLIC LAWS-CH. 51-APR. 3, 1945 determination by the Secretary of the Treasury that such losses resulted from no fault or negligence on the part of the Treasurer, the Federal Reserve bank, or the qualified paying agent. The Post Office Department or the Postal Service shall be relieved from such liability upon a joint determination by the Postmaster General and the Secre- tary of the Treasury that such losses resulted from no fault or negli- gence on the part of the Post Office Department or the Postal Service. 50 Stat. 47 b The provisions of section 3 of the Government Losses in Shipment Act, as amended, with respect to the finality of decisions by the Sec- retary of the Treasury shall apply to the determinations made pur- Crediting of reeov- suant to this subsection. All recoveries and repayments on account es d repayments. of such losses, as to which replacement shall have been made out of the fund, shall be credited to it and shall be available for the purposes nnual statement, thereof. The Secretary of the Treasury shall include in his annual report to the Congress a statement of all payments made from the fund pursuant to this subsection." 40Stat. 288. SEC. 4. The Second Liberty Bond Act, as amended, is further p. 59. amended by adding at the end thereof the following sections: Proof of death to "SEO. 23. A finding of death made by any official or agency of the ancpot United States authorized by section 5 of the Act of March 7, 1942, 56 Stat. 145. 50 U.S. ., Spp. as amended (U. S . C., Supp. III, title 50, Appendix, sec. 1005), or IV, app. 1005 . by any other law to make such a finding, or by the Secretary of War or the Secretary of the Navy, shall be a sufficient proof of death to support the allowance of credit in the accounts of any Federal Re- serve bank or accountable officer of the Treasury Department in any case involving the transfer, exchange, reissue, redemption, or pay- ment of bonds and other obligations of the United States, including those obligations guaranteed by the United States for which the Treas- ury Department acts as transfer agent. ft,franbequtor "SEC. 24. Whenever any direct obligation of the United States, Redemptiono obli- bearing interest or sold on a discount basis, is donated to the United gation. States, is bequeathed by will to the United States, become the property of the United States under the terms of a trust, or is by its terms payable upon the death of the owner to the United States or any officer thereof in his official capacity, the Treasurer of the United States upon receipt of such obligation shall effect redemption thereof. Payment o ta If under applicable law such gift, bequest, or other transfer to the United States is subject to a gift or inheritance tax, the Treasurer shall pay such tax out of the proceeds of redemption and shall deposit the balance in the Treasury as miscellaneous receipts or as otherwise authorized by law. If no tax is payable the entire proceeds shall be so deposited." 30 v. .C. Si 301. SEC. 5. (a) Notwithstanding the provisions of section 3749 of the Disoitio of secu- Revised Statutes, as amended, the Secretary of the Treasury is author- itaquid y U.S. ized to sell, exchange, or otherwise dispose of any bonds, notes, or other securities, acquired by him on behalf of the United States under judicial process or otherwise, or delivered to him by an executive department or agency of the United States for disposal, or to enter into arrangements for the extension of the maturity thereof, in such manner, in such amounts, at such prices, for cash, securities, or other property, or any combination thereof, and upon such terms and con- ditions as he may deem advisable and in the public interest. No such bonds, notes, or other securities of any single issuer having at the date of disposal an aggregate face or par value, or in the case of no-par stock an aggregate stated or book value, in excess of $1,000,000, which may be held by the Secretary of the Treasury at any one time, shall be sold or otherwise disposed of under the authority of this section. (b) Nothing contained in this section shall be construed to super- [59 STAT.

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