Page:United States Statutes at Large Volume 50 Part 1.djvu/507

482 Attached interest co upons . Indemnity bond to be filed . Provisos. Corporate surety re- quired if security pay- able to bearer, etc . 28 Stat. 279. 6U.S.C.°°6-13. Bond not required in ca ses desig nated . Loss, etc ., while in custody of United States . Postal Service ex- cept ed . Wh ere ent ire sec u- rity presented and surren dered . Where security is transferable only by operation of law . Owner is a Sta te, et c. Proviso . Exception . "In tere st- bear ing security of the U nited States" or "secur ity", defined . Administrative rules, etc . Sections of Revised Statutes repealed . R . S . °°3702-3705. 31U.S.C.°°735- 738 . Section amended . R.S.°3646. 31 U. S. C.°528. Lost, destroyed, e tc ., chec ks, dup lica tes to be issued . 75TH CONGRESS, 1sT SESSION-CH . 424 J ULY 8, 19 37 by the issue of a substitute or by payment : And provided further, That no payment shall be made on account of interest coupons claimed to have been attached to such original security unless the Secretary is satisfied that such coupons have not been paid, and are in fact destroyed or can never become the basis of a valid claim against the United States . (b) Except as hereinafter provided, the owner of such lost, stolen, d estro yed, mutila ted, or de faced secur ity sh all f ile w ith th e Sec re- tary of the Treasury a bond, to indemnify the United States, in such form and amount and with such surety, sureties, or security as the Secretary of the Treasury shall require : Provided, That in case of securities payable to bearer or so assigned as to become, in effect, payable to bearer, the destruction of which has not been proved, a corporate surety, qualified under the provisions of the Act of August 13, 1894, as amended (U . S . C ., 1934 edition, title 6, sees . 6-13), shall be required on such bond of indemnity : And provided further, That a bond of indemn ity shall not be required in any of the fol- lowing classes of cases, except as hereinafter provided (1) If the Secretary of the Treasury is satisfied that the loss, thef t, de struct ion, mutil ation, or d efacem ent, as th e case may be, occurred without fault of the owner and while the security was in the custody or the control of the United States (not including the Postal Service when acting solely in its capacity as the public carri er of the m ails) , or of a p erson ther eunto duly author ized as lawful agent of the United States, or while it was in the course of shipment effected pursuant to and in accordance with the regu- lations issued under the provisions of this Act ; (2) If substantially the entire security is presented and sur- rendered by the owner and the Secretary of the Treasury is satis- fied as to the identity of the security presented and that any miss- ing portions are not sufficient to form the basis of a valid claim against the United States ; (3) If the lost, s tolen, dest royed, muti lated, or de faced secur ity is one which by the provisions of law or by the terms of its issue is transferable only by operation of law ; (4) If the owner is a State or po litic al su bdivis ion t hereo f, a corporation the whole of whose capital is owned by the United States, a foreign government, or a Federal Reserve bank Provided, however, That in any of the foregoing classes of cases the Secretary of the Treasury may require ; a bond of indemnity if he deems it essential to the public interest . (c) The term "interest-bearing security of the United States" or "security", wherever used in this section, means any direct obliga- tion of the United States issued pursuant to law for valuable con- siderat ion and whic h by its te rms bears i nterest, or is issued on a dis- count basis, and includes (but is not limited to) bonds, notes, cer- tificates of indebtedness, and Treasury bills, and interim certificates issued for any such security . (d) The Secretary of the Treasury shall have the power to make such rules and regulations as he may deem necessary for the admin- istrati on of this s ection . (e) Sections 3702, as amended, 3703, 3704, and 3705 of the Revised Statutes of the United States (U . S . C ., title 31, sees . 735, 736, 737, and 738) are hereby repealed . SEC . 9 . Section 3646 of the Revised Statutes of the United States (U. S. C., 1934 edition, title 31, sec . 528), as amended, is further amended to read as follows "(a) Except as hereinafter provided, whenever it is clearly proved to the satisfaction of the Secretary of the Treasury that any original