United States Code

§ 7258-3. Same; appropriation and disposition of power

revenues.

TRANSFER OF FUNCTIONS

All functions vested by law (including reorganization plan) in the Bureau of the Budget or the Director of the Bureau of the Budget were transferred to the President of the United States by section 101 of 1970 Reorg. Plan No. 2, eff. July 1, 1970, 35 F.R. 7959, 84 Stat. 2085. Section 102 of 1970 Reorg. Plan No. 2, redesignated the Bureau of the Budget as the Office of Management and Budget. See Change of Name note set out under this section in the main volume.

Sec. 757c-4.

Chapter 12.-THE PUBLIC DEBT

Unmatured obligations not redeemable in payment of any United States tax in an amount above the fair market value of such obligation [New].

§ 738a. Relief to owners of securities on account of loss, theft, destruction, mutilation, or defacement. (a) Authorization of Secretary of Treasury; regulations.

Under such regulations as he may deem necessary for the administration of this section, the Secretary of the Treasury is authorized to grant relief on account of the loss, theft, destruction, mutilation, or defacement of any security identified by number and description.

(b) Bond of indemnity.

A bond of indemnity shall be required as a condition of relief, whether before, at, or after maturity, on account of any security payable to bearer or so assigned as to become, in effect, payable to bearer which is not clearly proven to have been destroyed. The bond of indemnity shall be in such form and amount and with such surety, sureties, or security as the Secretary of the Treasury shall require.

No relief shall be granted on account of interest coupons claimed to have been attached to a security unless the Secretary is satisfied that such coupons have not been paid and are in fact destroyed or will not become the basis of a valid claim against the United States.

(d) Definition of "security".

The term "security" means any direct obligation of the United States issued pursuant to law for valuable consideration, including bonds, notes, certificates of indebtedness, and Treasury bills, and interim certificates issued for any such security. (As amended Pub. L. 92-19, May 27, 1971, 85 Stat. 74.)

AMENDMENTS

1971-Subsec. (a). Pub. L. 92-19, in revising the provisions, substituted former subsec. (d) provisions empowering Secretary of Treasury to make necessary rules and regulations for administration of section and authorization for granting relief on account of loss, theft, destruction, mutilation, or defacement of any security identified by number and description for former provisions authorizing relief prior to maturity where bearer securities are clearly proven to have been destroyed, and where there is probability of loss or theft granting of relief only after maturity and upon a finding that sufficient time has elapsed as would indicate that the securities have been destroyed or irretrievably lost, are not held by any person as his own property, and will never become the basis of a valid claim against the United States, the latter provision now covered in subsec. (c) of this section.

Subsec. (b). Pub. L. 92-19, in revising the provisions, made it clear that indemnity bond is required whether

relief is provided before, at, or after maturity, and deleted provision excepting certain classes of cases from the requirement of an indemnity bond where not essential in public interest, namely, where loss, theft, destruction, etc. occurred without fault of owner; where substantially entire security is surrendered and any missing portion is insufficient to form basis of a valid claim against the United States; where the security is transferable only by operation of law; and where owner of the security is the Federal Government or official, State or local government, Federal Government corporation, foreign government, or Federal Reserve bank.

Subsec. (c). Pub. L. 92-19 substituted provision requiring as condition for relief on account of interest coupons claimed to have been attached to a security that the Secretary of Treasury be satisfied that such coupons have not been paid and are in fact destroyed or will not become the basis of a valid claim against the United States, formerly constituting last proviso of former subsec. (a), for definition of "interest-bearing security of the United States" or "security" as meaning any direct obligation of the United States issued pursuant to law for valuable consideration and which by its terms bears interest, or is issued on a discount basis and includes bonds, notes, certificates of indebtedness, and Treasury bills, and interim certificates issued for any such security and also meaning any bond issued under section 780 of Title 26, I.R.C. 1939, provision now covered in subsec. (d) of this section.

Subsec. (d). Pub. L. 92-19 substituted definition of "security", formerly included in former subsec. (c) defining "interest-bearing security of the United States" or "security" for former provision empowering Secretary of Treasury to make rules and regulations for administration of section, now incorporated in subsec. (a) of this section. § 742a. Same; by Federal tax acts.

SECTION REFERRED TO IN OTHER SECTIONS This section is referred to in title 12 sections 2055, 2079, 2098, 2134.

§ 752. Second, third, and fourth Liberty loans; amount; bonds.

The Secretary of the Treasury, with the approval of the President, is authorized to borrow, from time to time, on the credit of the United States for the purposes of this Act to provide for the purchase, redemption, or refunding, at or before maturity, of any outstanding bonds, notes, certificates of indebtedness, or Treasury bills of the United States, and to meet expenditures authorized for the national security and defense and other public purposes authorized by law, such sum or sums as in his judgment may be necessary, and to issue therefor bonds of the United States.

The bonds authorized in this section shall be in such form or forms and denomination or denominations and subject to such terms and conditions of issue, conversion, redemption, maturities, payment, and rate or rates of interest, not exceeding 44 per centum per annum, and time or times of payment of interest, as the Secretary of the Treasury from time to time at or before the issue thereof may prescribe. The principal and interest thereof shall be payable in United States legal tender coin or currency of the present standard of value. Bonds herein authorized may be issued from time to time at a rate or rates of interest exceeding 44 per centum per annum, but the aggregate face amount of bonds issued pursuant to this sentence shall not exceed $10,000,000,000.

(As amended Mar. 17, 1971, Pub. L. 92-5, title I, § 3. 85 Stat. 5.)

AMENDMENTS

1971-Pub. L. 92-5 added provision that authorized bonds to be issued from time to time at a rate or rates of interest exceeding 44 per centum per annum, with the proviso that the aggregate face amount of the bonds so issued not exceed $10,000,000,000.

§ 757b. Public debt limit; limitations on obligations issued under Second Liberty Loan.

The face amount of obligations issued under authority of this Act, and the face amount of obligations guaranteed as to principal and interest by the United States (except such guaranteed obligations as may be held by the Secretary of the Treasury), shall not exceed in the aggregate $400,000,000,000 outstanding at any one time. The current redemption value of any obligation issued on a discount basis which is redeemable prior to maturity at the option of the holder thereof shall be considered, for the purposes of this section, to be the face amount of such obligation. (As amended Mar. 17, 1971, Pub. L. 92-5, title I, § 1, 85 Stat. 5.)

REFERENCES IN TEXT

This Act, referred to in the text, is the Second Liberty Bond Act, act Sept. 24, 1917, ch. 56, 40 Stat. 288, as amended, and is classified to section 745, former section 747, sections 752, 752a, 753, 754, 754a, 754b, 757, 757b, and 757c, former section 757c-1, sections 757c-2, 757c-3, 757c-4, 757d, 757e, 758, 760, and 764, former section 765, and sections 766, 769, 771, 773, 774, and 801 of this title.

AMENDMENTS

1971-Pub. L. 92-5 increased the permanent debt limit from $380,000,000,000 to $400,000,000,000.

TEMPORARY INCREASE IN THE PUBLIC DEBT LIMIT The public debt limit set forth in this section was temporarily increased for a limited period by the following Acts:

Oct. 27, 1972, Pub. L. 92-599, title I, § 101, 86 Stat. 1324 Increase of $65,000,000,000 for the period Nov. 1, 1972, to June 30, 1973.

Mar. 17, 1972, Pub. L. 92-250, 86 Stat. 63, as amended July 1, 1972, Pub. L. 92–336, title I, § 1, 86 Stat. 406-Increase of $20,000,000,000 for the period Mar. 15, 1972 to Oct. 31, 1972.

Mar. 17, 1971, Pub. L. 92-5, title I, § 2(a), 85 Stat. 5, as amended July 1, 1972, Pub. L. 92-336, title I, § 1, 86 Stat. 406 Increase of $30,000,000,000 for the period of Mar. 17, 1971 to Oct. 31, 1972.

REPEAL

Pub. L. 91-301, § 2, June 30, 1970, 84 Stat. 368, providing for a temporary increase of $15,000,000,000 in the public debt limit for the period of June 30, 1970 to June 30, 1971 was repealed by Pub. L. 92-5, title I, § 2(b), Mar. 17, 1971, 85 Stat. 5, eff. Mar. 17, 1971.

JOINT COMMITTEE TO REVIEW OPERATION OF BUDget CeilING AND TO RECOMMEND PROCEDURE FOR IMPROVING CONGRESSIONAL CONTROL OVER BUDGETARY OUTLAY AND RECEIPT TOTALS

Pub. L. 92-599, title III, § 301, Oct. 27, 1972, 86 Stat. 1324, provided that:

"(a) [Establishment; membership.] There is hereby established a joint committee composed of thirty-two members appointed as follows:

"(1) seven members from the Committee on Ways and Means of the House of Representatives, appointed by the Speaker of the House;

"(2) seven members from the Committee on Appropriations of the House of Representatives, appointed by the Speaker of the House;

"(3) two additional Members of the House of Representatives, one from the majority party, and one from the minority party, appointed by the Speaker of the House;

"(4) seven members of the Committee on Finance of the Senate, appointed by the President pro tempore of the Senate;

"(5) seven members of the Committee on Appropriations of the Senate, appointed by the President pro tempore of the Senate; and

"(6) two additional Members of the Senate, one from the majority party, and one from the minority party, appointed by the Preisdent pro tempore of the Senate. No person appointed by reason of his membership on any of the committees referred to in paragraphs (1), (2), (4), and (5) shall continue to serve as a member of the joint committee after he has ceased to be a member of that committee from which he was chosen, except that the members chosen from the Committee on Appropriations and the Committee on Ways and Means of the House of Representatives who have been reelected to the House of Representatives may continue to serve as members of the joint committee notwithstanding the expiration of the Congress. A vacancy in the joint committee shall not affect the power of the remaining members to execute the functions of the joint committee, and shall be filled in the same manner as the original selection.

"(b) [Functions; report by February 15, 1973.] The joint committee created by subsection (a) shall make a full study and review of

"(1) the procedures which should be adopted by the Congress for the purpose of improving congressional control of budgetary outlay and receipt totals, including procedures for establishing and maintaining an overall view of each year's budgetary outlays which is fully coordinated with an overall view of the anticipated revenues for that year, and

"(2) the operation of the limitation on expenditures and net lending imposed by section 201 of this Act for the fiscal year ending June 30, 1973 [which set a limit of $250,000,000 effective for one day, Oct. 27, 1972]. The joint committee shall report the results of such study and review to the Speaker of the House of Representatives and to the President pro tempore of the Senate, not later than February 15, 1973.

"(c) [Chairman; staff.] (1) The chairman of the joint committee shall be selected by the members of the joint committee.

"(2) The joint committee is authorized to appoint such staff, and to request such assistance from the existing staffs of the Congress, as may be necessary to carry out the purposes of this section.

"(d) [Expenses.] The expenses of the joint committee, which shall not exceed $100,000 through February 28, 1973, shall be paid from the contingent fund of the Senate upon vouchers approved by the chairman of the joint

committee.

"(e) [Termination.] The joint committee shall cease to exist at the close of the first session of the Ninety-third Congress.

§ 757c-4. Unmatured obligations not redeemable in payment of any United States tax in an amount above the fair market value of such obligation. In the case of obligations issued after March 3, 1971, under this Act or under any other provision of law, the terms and conditions of issue shall not permit the redemption before maturity of such obligation in payment of any tax imposed by the United States in any amount above the fair market value of such obligation at the time of such redemption. This section shall not apply to any Treasury bill which is issued under the authority of section 754 of this title. (Sept. 24, 1917, ch. 56, § 27, as added Pub. L. 92-5, title I, § 4 (b), Mar. 17, 1971, 85 Stat. 5.)

REFERENCES IN TEXT

§ 765. Repealed. Pub. L. 92-5, title I, § 4(a)(1), Mar. 17, 1971, 85 Stat. 5.

Section, act Sept. 24, 1917, ch. 56, § 14, as added Apr. 4, 1918, ch. 44, § 6, 40 Stat. 505, provided that bonds bearing Interest at a higher rate than 4% per annum owned by the decedent for at least 6 months prior to his death and constituting a part of his estate were receivable in payment of estate or inheritance taxes.

EFFECTIVE DATE OF REPEAL

Section 4(a) of Pub. L. 92-5 provided in part that the repeal of this section by Pub. L. 92-5 shall be effective with respect to obligations issued after Mar. 3, 1971.

Chapter 14.-FINANCIAL CONTROL OF
GOVERNMENT CORPORATIONS

§ 846. Definition of "wholly owned Government corporation".

As used in this chapter the term "wholly owned Government corporation" means the Commodity Credit Corporation; Regional Agricultural Credit Corporations; Farmers Home Corporation; Pennsylvania Avenue Development Corporation; Federal Crop Insurance Corporation; Federal Surplus Commodities Corporation; Reconstruction Finance Corporation; Defense Plant Corporation; Defense Supplies Corporation; Metals Reserve Company; Rubber Reserve Company; War Damage Corporation; Government National Mortgage Association; the RFC Mortgage Company; Disaster Loan Corporation; Inland Waterways Corporation; Warrior River Terminal Company; Virgin Islands Corporation; Federal Prison Industries, Incorporated; United States Spruce Production Corporation; Overseas Private Investment Corporation; Institute of Inter-American Affairs; Institute of Inter-American Transportation; Inter-American Educational Foundation, Incorporated; Inter-American Navigation Corporation; Prencinradio, Incorporated; Cargoes, Incorporated; Export-Import Bank of the United States; Petroleum Reserves Corporation; Rubber Development Corporation; U.S. Commercial Company; Smaller War Plants Corporation; Defense Homes Corporation; Federal Savings and Loan Insurance Corporation; Home Owners' Loan Corporation; United States Housing Corporation; Federal Housing Administration; Saint Lawrence Seaway Development Corporation; Panama Canal Company; Tennessee Valley Authority; and Tennessee Valley Associated Cooperatives, Incorporated. (As amended Oct. 27, 1972, Pub. L. 92-578, § 15, 86 Stat. 1274.)

AMENDMENTS

1972-Pub. L. 92-578 inserted "Pennsylvania Avenue Development Corporation;" following "Farmers Home Corporation;".

SECTION REFERRED TO IN OTHER SECTIONS This section is referred to in section 1201 of this title; title 7 section 943.

§ 847. Preparation of annual business-type budget; form, content, and manner of submission.

TRANSFER OF FUNCTIONS

§ 852. Corporation deemed Government agency; approval by Congress; effect; entity unaffected.

TRANSFER OF FUNCTIONS

§ 856. Definition of "mixed-ownership Government corporations".

As used in this chapter the term "mixed-ownership Government corporations" means (1) the Central Bank for Cooperatives and the Regional Banks for Cooperatives, (2) Federal Land Banks, (3) Federal Intermediate Credit Banks, (4) Federal Home Loan Banks, (5) Federal Deposit Insurance Corporation, (6) the National Railroad Passenger Corporation, and (7) the Rural Telephone Bank. (As amended May 7, 1971, Pub. L. 92-12, title I, § 4, 85 Stat. 37.)

(d) Exemption of corporations under certain conditions; exemption of certain corporations. Any mixed-ownership Government corporation from which Government capital has been entirely withdrawn shall not be subject to the provisions of section 867 of this title or of this section during the period such corporation remains without Government capital. The provisions of subsections (a) and (b) of this section shall not be applicable to the Rural Telephone Bank, Federal Intermediate Credit Banks, the Central Bank for Cooperatives, the Regional Banks for Cooperatives, or the Federal Land Banks, except that each such corporation shall be required to consult with the Secretary of the Treasury prior to taking any action of the kind covered by the provisions of subsections (a) and (b) of this section, and in the event an agreement is not reached, the Secretary of the Treasury may make a report in writing to the corporation, to the President, and to the Congress stating the grounds for his disagreement. (As amended May 7, 1971, Pub. L. 92-12, title I, § 5, 85 Stat. 37.)

AMENDMENTS

1971-Subsec. (d). Pub. L. 92-12 made the provisions of subsecs. (a) and (b) of this section inapplicable to the Rural Telephone Bank.

EFFECTIVE DATE OF 1971 AMENDMENT Section 5 of Pub. L. 92-12 provided in part that amendment of subsec. (d) of this section by Pub. L. 92-12 is

effective when ownership, control, and operation of telephone bank is converted as provided in section 950 (a) of Title 7, Agriculture.

Chapter 19.-PRESIDENTIAL ELECTION
CAMPAIGN FUND

S$ 971 to 973. Repealed. Pub. L. 92-178, title VIII, § 802(b)(1), Dec. 10, 1971, 85 Stat. 573.

Sections, Pub. L. 89-809, title III, §§ 303-305, Nov. 13, 1966, 80 Stat. 1588-1590, related to Presidential Election Campaign Fund, providing in section 971 for operation of Presidential Election Campaign Fund ((a) establishment; (b) transfers to the Fund; (c) payments from the Fund, determination of amounts, limitations, and definitions; (d) transfer of remaining moneys to general fund); section 972 for Presidential Election Campaign Fund Advisory Board ((a) establishment, functions, and duties; (b) membership, appointment, term, and selection of chairman; (c) compensation of members; (d) Board membership not to constitute service as United States officer or employee); and section 973 for authorization of appropriations. Subject matter is now covered by Subtitle H, Financing of Presidential Election Campaigns, chapter 95 (sections 9001 to 9013) and chapter 96 (section 9021) of Title 26, Internal Revenue Code.

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ABOLITION OF OFFICE OF ADMINISTRATIVE ASSISTANT
SECRETARY; EFFECTIVE DATE

Abolition of the office of Administrative Assistant Secretary to take effect upon confirmation by the Senate of Presidential appointees to fill the successor positions created by Pub. L. 92-302, see section 3(b) of Pub. L. 92-302, set out as a note under section 1004 of this title. § 1004. Deputy Secretary, Under Secretary, and Under Secretary for Monetary Affairs; appointment and duties.

There shall be in the Department of the Treasury a Deputy Secretary, an Under Secretary, and an Under Secretary for Monetary Affairs, each to be appointed by the President, by and with the advice and consent of the Senate. They shall perform such duties in the Office of the Secretary as may be prescribed by the Secretary of the Treasury. The President may, in appointing the Under Secretary, designate him as "Counselor". (As amended May 18, 1972, Pub. L. 92-302, § 1(a), 86 Stat. 148.)

AMENDMENTS

1972-Pub. L. 92-302 provided for the appointment of a Deputy Secretary and for the designation of the Under Secretary as "Counselor".

EFFECTIVE DATE OF 1972 AMENDMENT Section 3 of Pub. L. 92-302 provided that: "(a) Except as otherwise provided in this section, this Act [enacting section 1005a of this title, amending this section and sections 1005 and 1006 of this title and sections 5313-5316 of Title 5, Government Organization and Employees, enacting provisions set out as notes under this section, and amending notes set out under section 1001 of this title and in the Appendix to Title 5] shall take effect on its date of enactment [May 18, 1972].

"(b) Any officer holding an office when this Act takes effect [May 18, 1972] shall not be required to be reappointed to such office by reason of the enactment of this Act. Subsection (d) of the first section of this Act [repealing section 3 of Reorganization Plan No. 26 of 1950, set out as a note under section 1001 of this title and in the Appendix to Title 5] and subsection (d) of section 2 of this Act [striking out pars. (28) and (64) of section 5316 of Title 5] shall take effect upon confirmation by the Senate of Presidential appointees to fill the successor positions created by this Act.

"(c) Until January 21, 1973, no person within the Treasury Department who has been occupying a position under the Executive Schedule and who is hereafter appointed to a position created or authorized by this Act shall receive an increase in basic pay by virtue of such appointement."

§ 1005. Deputy Secretary of the Treasury; performance of duties of the Secretary of the Treasury. The Deputy Secretary of the Treasury, in case of the death, resignation, absence, or sickness of the Secretary of the Treasury, shall perform the duties of the Secretary until a successor is appointed or such absence or sickness shall cease. (As amended May 18, 1972, Pub. L. 92–302, § 1(a), 86 Stat. 149.)

AMENDMENTS

1972-Pub. L. 92-302 substituted "Deputy Secretary of the Treasury" for "Undersecretary of the Treasury".

EFFECTIVE DATE OF 1972 AMENDMENT Amendment by Pub. L. 92-302 effective May 18, 1972, see section 3 of Pub. L. 92-302, set out as a note under section 1004 of this title.

PAY INCREASE; EFFECTIVE DATE

Persons occupying a position under the Executive Schedule on May 18, 1972, and later appointed to a position created or authorized by Pub. L. 92-302, not eligible to an increase in basic pay until Jan. 21, 1973, see section 3(c) of Pub. L. 92-302, set out as a note under section 1004 of this title.

SAVINGS PROVISION

Officers holding office on May 18, 1972, not required to be reappointed to such office by reason of the enactment of Pub. L. 92-302, see section 3(b) of Pub. L. 92-302, set out as a note under section 1004 of this title.

§ 1005a. Deputy Under Secretaries; appointment and duties.

There shall be in the Department of the Treasury two Deputy Under Secretaries who shall be appointed by the President, by and with the advice and consent of the Senate. They shall perform such duties in the Office of the Secretary as may be prescribed by the Secretary of the Treasury. The President may, in appointing any Deputy Under Secretary, designate him as "Assistant Secretary of the Treasury". Any person designated as Assistant Secretary of the Treasury under the preceding sentence shall not be taken into account in applying section 1006 of this title. (Pub. L. 92-302, § 1(b), May 18, 1972, 86 Stat. 149.)

EFFECTIVE DATE Section effective May 18, 1972, see section 3 of Pub. L. 92-302, set out as a note under section 1004 of this title.

PAY INCREASE; EFFECTIVE DATE

Persons occupying a position under the Executive Schedule on May 18, 1972, and later appointed to a position created or authorized by Pub. L. 92–302, not eligible to an increase in basic pay until Jan. 21, 1973, see section 3(c) of Pub. L. 92-302, set out as a note under section 1004 of this title.

§ 1006. Assistant Secretaries of Treasury.

There shall be in the Department of the Treasury five Assistant Secretaries of the Treasury, who shall be appointed by the President, by and with the advice and consent of the Senate. (As amended May 18, 1972, Pub. L. 92-302, § 1 (c), 86 Stat. 149.)

AMENDMENTS

1972-Pub. L. 92-302 increased the number of Assistant Secretaries of the Treasury from four to five.

EFFECTIVE DATE OF 1972 AMENDMENT

Amendment by Pub. L. 92-302 effective May 18, 1972, see section 3 of Pub. L. 92-302, set out as a note under section 1004 of this title.

PAY INCREASE; EFFECTIVE DATE

SAVINGS PROVISION

SECTION REFERRED TO IN OTHER SECTIONS

This section is referred to in section 1005a of this title.

SS 1012, 1013. Repealed. Pub. L. 92-310, title II, § 231(d), (e), June 6, 1972, 86 Stat. 209.

Section 1012, R.S. § 375, related to false reports of collectors with respect to bonds delivered for suit.

Section 1013, R.S. § 378, related to the report of the General Counsel for the Department of the Treasury to the officer from whom a bond was received.

§ 1014. Death, resignation or separation from office of Chief Disbursing Officer; accounts and payments; liability for acts of successor.

In case of the death or of the resignation or separation from office of the Chief Disbursing Officer or any regional disbursing officer of the Division of Disbursement, Treasury Department, the accounts of such Chief Disbursing Officer or regional disbursing officer may be continued and payments made in his name by an Assistant Chief Disbursing Officer designated by the Secretary of the Treasury or by an assistant regional disbursing officer designated by the Secretary of the Treasury or designated by an official of the Treasury Department authorized by the Secretary of the Treasury to make such designation, for a period of time not to extend beyond the last day of the second month following the month in which such death, resignation, or separation shall occur. Such accounts and payments shall be allowed, audited, and settled in the General Accounting Office, and the checks signed in the name of the former Chief Disbursing Officer or regional disbursing officer shall be honored by the

Treasurer of the United States, in the same manner as if the former Chief Disbursing Officer or regional disbursing officer had continued in office. The former Chief Disbursing Officer or regional disbursing officer, or his estate, shall not be subject to any legal liability or penalty for the official acts and defaults of the Assistant Chief Disbursing Officer or assistant regional disbursing officer acting in the name or in the place of the former Chief Disbursing Officer or regional disbursing officer under this section, but the Assistant Chief Disbursing Officer or the assistant regional disbursing officer shall be responsible therefor. (As amended June 6, 1972, Pub. L. 92-310, title II, § 231 (dd), 86 Stat. 213.)

AMENDMENTS

1972-Pub. L. 92-310 eliminated provisions which related to the liability of the surety on the official bond of the former Chief Disbursing Officer or regional disbursing officer, and which related to bonds, and renewal of bonds, of the Acting Chief Disbursing Officer and acting regional disbursing officer.

§ 1015. Deputy disbursing clerk.

The deputy disbursing clerk of the Treasury Department shall have authority to sign checks in the name of the disbursing clerk; and when so acting for the disbursing clerk shall be subject to all the liabilities and penalties prescribed by law for the official misconduct in like cases of the disbursing clerk for whom he acts. (As amended June 6, 1972, Pub. L. 92-310, title II, § 231(x), 86 Stat. 212.)

AMENDMENTS

1972-Pub. L. 92-310 eliminated provisions which related to the bond of the deputy disbursing clerk, and which directed that the official bond of the disbursing clerk shall be made to cover and apply to the acts of the deputy disbursing clerk.

§ 1034. Smuggling of controlled substances; investigations; oaths; subpenas; witnesses; evidence; production of records; territorial limits; fees and mileage of witnesses.

For the purpose of any investigation which, in the opinion of the Secretary of the Treasury, is necessary and proper to the enforcement of section 545 of Title 18 (relating to smuggling goods into the United States) with respect to any controlled substance (as defined in section 802 of Title 21), the Secretary of the Treasury may administer oaths and affirmations, subpena witnesses, compel their attendance, take evidence, and require the production of records (including books, papers, documents and tangible things which constitute or contain evidence) relevant or material to the investigation. The attendance of witnesses and the production of records may be required from any place within the customs territory of the United States, except that a witness shall not be required to appear at any hearing distant more than 100 miles from the place where he was served with subpena. Witnesses summoned by the Secretary shall be paid the same fees and mileage that are paid witnesses in the courts of the United States. Oaths and affirmations may be made at any place subject to the jurisdiction of the United States. (Aug. 11, 1955, ch. 800, § 1, 69 Stat. 684, amended Oct. 27, 1970. Pub. L. 91-513, title III, § 1102(t), 84 Stat. 1294.)

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