Page:United States Statutes at Large Volume 61 Part 1.djvu/675

 61 STAT.] 80TH CONG. , 1ST SESS.-CH. 390-JULY 30,1947 the priority of the claim of the United States against the bonds or notes deposited or any right or remedy granted by said sections 270a to 270d or by this section to the United States for default upon any obligation of said penal bond. All laws inconsistent with this section are hereby so modified as to conform to the provisions hereof. Nothing contained herein shall affect the 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 prescribe rules and regulations necessary and proper for carrying this section into effect. The term "person" in this section means an individual, a trust or estate, a partnership, or a cor- poration; the term "Secretary" means the Secretary of the Treasury. In order to avoid the frequent substitution of securities such rules and regtulations may limit the effect of this section, in appropriate classes of cases, to bonds and notes of the United States maturing more than a year after the date of deposit of such bonds as security. The phrase "bonds or notes of the United States" shall be deemed, for the purposes of this section, to mean any public-debt obligations of the United States and any bonds, notes, or other obligations which are uncondi- tionally guaranteed as to both interest and principal by the United States. SEC. 2. The sections or parts thereof of the Statutes at Large covering provisions codified in this Act, insofar as such provisions appear in title 6, United States Code, 1940 edition, and supplements thereto, as shown by the appended table, are hereby repealed: Pro- vided, That any rights or liabilities now existing under such repeated sections or parts thereof shall not be affected by such repeal. Title 6, United STATUTES AT LARGE States Code, Section Mar. 2, 1895, ch. 177, sec. 5, second paragraph, 28 Stat. 807; June 17, 1930, ch. 497, sec. 523, first paragraph, 46 Stat. 740--- 1 Mar. 2, 1895, ch. 177, sec. 5, third paragraph, 28 Stat. 807 2 Mar. 2. 1895, ch. 177, sec. 5, fourth paragraph, 28 Stat. 807; Mar. 8, 1928, ch. 148, 45 Stat. 247- - -- 3 Aug. 8, 188S, ch. 787, sec. 1, 25 Stat. 3S7- - - -- -- - 4 Aug. 8, 1888, ch. 787, sec. 2, 25 Stat. 387; as modified by June 10, 1921, ch. 18, sec. 301, 42 Stat. 23- -.- Aug. 13, 1894, ch. 282, sec. 1, 28 Stat. 279- .-- - ( Aug. 13, 1894, ch. 2S2 , sec. 2, 28 Stat. 279 -.- --- Aug. 13, 1894, ch. 282, sec. 3, 28 Stat. 279; Mar. 23, 1910, ch. 109, 36 Stat. 241 - Aug. 13, 1894, ch. 282, sec. 4, 28 Stat. 279; Mar. 23, 1910, ch. 109, 36 Stat. 241 -- -- Aug. 13, 1894, ch. 282, sec. 5, 28 Stat. 280- 10 Aug. 13, 1894, ch. 282, sec. 6, 28 Stat. 280; as modified Jan. 31, 1928, ch. 14, sec. 1, 45 Stat. 54 11 Aug. 13, 1894, ch. 282, sec. 7, 28 Stat. 280 -- 1 2 Aug. 13, 1894, ch. 282, sec. 8, 28 Stat. 280 -- 13 Aug. 5, 1909, ch. 7 , 36 Stat. 125, first paragraph under "Department of Commerce and Labor" 14 Feb. 24, 1919, ch. 18, sec. 1320, 40 Stat. 1148; Nov. 23, 1921, ch. 136, sec. 1329, 42 Stat. 318; Feb. 26, 1926, ch. 27, sees. 2 (a) (1), (6), 1126, 44 Stat. 9, 122; Feb. 4, 1935, ch. 5, sec. 7, 49 Stat. 22; Mar. 31, 1944, ch. 148, 58 Stat. 135, 136 -- - - -- -- -- -- - 1 Approved July 30, 1947. 651 "Person." "Secretary." "Bonds or notes of the United States. " Repeals.

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