
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 23, 2000]
[Document not affected by Public Laws enacted between
  January 23, 2000 and December 4, 2001]
[CITE: 40USC511]

 
             TITLE 40--PUBLIC BUILDINGS, PROPERTY, AND WORKS
 
       CHAPTER 10--MANAGEMENT AND DISPOSAL OF GOVERNMENT PROPERTY
 
                 SUBCHAPTER III--FOREIGN EXCESS PROPERTY
 
Sec. 511. Disposal of foreign excess property; agency 
        responsibility; foreign policy controlling; use of foreign 
        currencies and credits; duties of State Department
        
    Each executive agency having foreign excess property shall be 
responsible for the disposal thereof: Provided, That (a) the head of 
each such executive agency shall, with respect to the disposition of 
such property, conform to the foreign policy of the United States; (b) 
the Secretary of State shall have the authority to use foreign 
currencies and credits acquired by the United States under section 
512(b) of this title in order to effectuate the purposes of section 
32(b)(2) of the Surplus Property Act of 1944, as amended, and the 
Foreign Service Buildings Act of May 7, 1926, as amended [22 U.S.C. 291 
et seq.] (including section 295b of title 22), and for the purpose of 
paying any other governmental expenses payable in local currencies, and 
the authority to amend, modify, and renew agreements in effect on July 
1, 1949; (c) any foreign currencies or credits acquired by the 
Department of State pursuant to such agreements shall be administered in 
accordance with procedures that may from time to time be established by 
the Secretary of the Treasury and, if and when reduced to United States 
currency, shall be covered into the Treasury as miscellaneous receipts; 
and (d) the Department of State shall, except to such extent as the 
President shall otherwise determine, continue to perform other functions 
with respect to agreements for the disposal of foreign excess property 
in effect on July 1, 1949.

(June 30, 1949, ch. 288, title IV, Sec. 401, 63 Stat. 397.)

                       References in Text

    Section 32(b)(2) of the Surplus Property Act of 1944, as amended, 
referred to in text, is section 32(b)(2) of act Oct. 3, 1944, ch. 479, 
58 Stat. 782, as amended, which related to the use of foreign 
currencies, foreign scholarships, and the establishment of the Board of 
Foreign Scholarships, and which was classified to section 1641(b)(2) of 
Title 50, Appendix, War and National Defense, was repealed by Pub. L. 
87-256, Sec. 111(a)(1), Sept. 21, 1961, 75 Stat. 538, and is covered by 
section 2451 et seq. of Title 22, Foreign Relations and Intercourse.
    The Foreign Service Buildings Act of May 7, 1926, referred to in 
text, is act May 7, 1926, ch. 250, 44 Stat. 403, as amended, which is 
classified generally to chapter 8 (Sec. 292 et seq.) of Title 22. For 
complete classification of this Act to the Code, see section 299 of 
Title 22 and Tables.
