
From the U.S. Code Online via GPO Access
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[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 31USC324]

 
                       TITLE 31--MONEY AND FINANCE
 
                           SUBTITLE I--GENERAL
 
                  CHAPTER 3--DEPARTMENT OF THE TREASURY
 
                      SUBCHAPTER II--ADMINISTRATIVE
 
Sec. 324. Disposing and extending the maturity of obligations

    (a) The Secretary of the Treasury may--
        (1) dispose of obligations--
            (A) acquired by the Secretary for the United States 
        Government; or
            (B) delivered by an executive agency; and

        (2) make arrangements to extend the maturity of those 
    obligations.

    (b) The Secretary may dispose or extend the maturity of obligations 
under subsection (a) of this section in the way, in amounts, at prices 
(for cash, obligations, property, or a combination of cash, obligations, 
or property), and on conditions the Secretary considers advisable and in 
the public interest.
    (c) The authority under this section is in addition to authority 
under another law.

(Pub. L. 97-258, Sept. 13, 1982, 96 Stat. 882; Pub. L. 98-369, div. A, 
title IV, Sec. 444, July 18, 1984, 98 Stat. 816.)

                                          Historical and Revision Notes
-------------------------------------------------------------------------------
---------------------------------
           Revised Section                   Source (U.S. Code)                
Source (Statutes at Large)
-------------------------------------------------------------------------------
---------------------------------
324(a)...............................  31:741a(a)(1st sentence words   Apr. 3, 
1945, ch. 51, Sec.  5, 59 Stat.
                                        before 9th comma).              48.
324(b)...............................  31:741a(a)(1st sentence words
                                        after 9th comma, last
                                        sentence).
324(c)...............................  31:741a(b).
-------------------------------------------------------------------------------
---------------------------------

    In the section, the words ``sell, exchange'' are omitted as being 
included in ``dispose''. The word ``obligations'' is substituted for 
``bonds, notes, or other securities'' for consistency in the revised 
title. The words ``under judicial process or otherwise'' are omitted as 
unnecessary.
    In subsection (a), before clause (1), the words ``Notwithstanding 
the provisions of section 302 of title 40'' are omitted as unnecessary 
and because section 302 was repealed by section 1(95) of the Act of 
October 31, 1951 (ch. 654, 65 Stat. 705). In clause (2), the words 
``those obligations'' are substituted for ``thereof'' for clarity.
    In subsection (b), the words ``The Secretary may dispose or extend 
the maturity of obligations under subsection (a) of this section'' are 
added for clarity and because of the restatement. The words 
``combination of cash, obligations, or property'' are substituted for 
``or any combination thereof'' for clarity. The words ``terms and 
conditions'' are omitted as being included in ``on conditions''. The 
words ``under the authority of this section'' are omitted as unnecessary 
because of the restatement.
    Subsection (c) is substituted for 31:741a(b) to eliminate 
unnecessary words and for consistency in the revised title.


                               Amendments

    1984--Subsec. (b). Pub. L. 98-369 struck out provision that the 
Secretary could not dispose of obligations of one issuer, held by the 
Secretary at one time, having on the date of disposal a total face or 
par value of more than $1,000,000 or, if no-par obligations, a stated or 
book value of more than $1,000,000.
