10 USC 8864 - Delivery of property on stipulation

U.S Code last checked for updates: May 18, 2024

§ 8864.

Delivery of property on stipulation

(a)

Prize property may be delivered to a claimant on stipulation, deposit, or other security, if—

(1)

the claimant satisfies the court that the property has a peculiar and intrinsic value to him, independent of its market value;

(2)

the court is satisfied that the rights and interests of the United States or of other claimants will not be prejudiced;

(3)

an opportunity is given to the United States attorney and the naval prize commissioner or the naval special prize commissioner to be heard as to the appointment of appraisers; and

(4)

a satisfactory appraisal is made.

(b)

Money collected on a stipulation, or deposited instead of it, that does not represent costs shall be deposited with the Treasurer of the United States or a public depositary in the same manner as proceeds of a sale.

(Aug. 10, 1956, ch. 1041, 70A Stat. 479, § 7664; renumbered § 8864, Pub. L. 115–232, div. A, title VIII, § 807(d)(9), Aug. 13, 2018, 132 Stat. 1837.)

cite as: 10 USC 8864