PUBLIC LAW 86-519-JUNE 12, 1960
contract under title X I, which was entered into prior to the date of enactment of this Act and which would be affected if the provisions of the amendments made by this Act were applicable thereto, may, at the request of such person agreed to by any third parties in interest, or at the request of the mortgagor agreed to by the mortgagee in the case of such a mortgage insurance contract, made within one hundred and eighty days after such date of enactment to the agency of the United States holding such contract, be revised to be in accordance with the law as amended by this Act, with respect to such of the vessels covered thereby as may be designated by the applicant. Any such revision shall provide with respect to the amendments to sections 215, 502(g), 507, 510(d), 607(b), 611(c), 705, 714, and 1107(4) of the Merchant Marine Act, 1936, that depreciation for the period prior to January 1, 1960, shall be taken at the rate provided by the Merchant Marine Act, 1936, prior to the amendments made by this Act, and that the remaining depreciation shall be taken for the period beginning January 1, 1960, on the basis of the remaining years of a useful life of twenty-five years, unless the vessel has been reconstructed or reconditioned, in which event such depreciation from the time of such reconstruction or reconditioning shall be taken on the basis of the remaining years of a useful life of the vessel determined jointly by the Secretary of Commerce and the Secretary of the Treasury. Any such revision shall provide with respect to any remaining unpaid debts that such unpaid debts shall be paid in equal annual installments over the remaining years of a useful life of twenty-five years. SEC. 9. Nothing in any amendment made by this Act shall operate or be interpreted to change from twenty to twenty-five years the provisions of the Merchant Marine Act, 1936, as amended, relating to the commercial expectancy or period of depreciation of any tanker or other liquid bulk carrier. Approved June 12, 1960.
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Public Law 86-519 AN ACT To amend section 57a of the Bankruptcy Act (11 U.S.C. 93(a)) and section 152, title 18, United States Code.
June 12, 1960 [H. R. 68I6]
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That paragraph a ^^^^^ k r uptcy of section 57 of the Bankruptcy Act (11 U.S.C. 93(a)) is amended to EUiiiinauon of read as follows: ... °12 W, 866. "a. A proof of claim shall consist of a statement, in writing and signed by a creditor, setting forth the claim; the consideration therefor; whether any and, if so, what securities are held therefor; and whether any and, if so, what payments have been made thereon; and that the claim is justly owing from the bankrupt to the creditor. A proof of claim filed in accordance with the requirements of the Bankruptcy Act, the General Orders of the Supreme Court, and the official forms, even though not verified under oath, shall constitute prima facie evidence of the validity and amount of the claim." SEC. 2. That paragraph 3 of section 152, title 18, United States Code, " Stat. 689. is amended to read as follows: "Whoever knowingly and fraudulently presents any false claim for proof against the estate of a bankrupt, or uses any such claim in any bankruptcy proceeding, personallv, or by agent, proxy, or attorney, or as agent, proxy, or attorney; or. Approved June 12, 1960.