40 USC 17306 - Agreements of indemnity

U.S Code last checked for updates: Nov 22, 2024

§ 17306.

Agreements of indemnity

(a)

Definition.—

In this section, the term “Federal Government” includes wholly owned Government corporations, and officers and employees of the Government or its executive departments, independent establishments, and agencies while acting in their official capacity.

(b)

Authority To Make Agreement.—

The Secretary of the Treasury may make and deliver, on behalf of the Federal Government, a binding agreement of indemnity the Secretary considers necessary and proper to enable the Government to obtain the replacement of any instrument or document—

(1)

received by the Government or an agent of the Government in the agent’s official capacity; and

(2)

which, after having been received, is lost, destroyed, or so mutilated as to impair its value.

(c)

When Federal Government Not Obligated.—

The Government is not obligated under an agreement of indemnity if the obligee named in the agreement makes a payment or delivery not required by law on the original of the instrument or document covered by the agreement.

(d)

Use of Fund for the Payment of Government Losses in Shipment.—

The fund described in section 17303 of this title is available to pay any obligation arising out of an agreement the Secretary makes under this section.

(Pub. L. 107–217, Aug. 21, 2002, 116 Stat. 1282.)

cite as: 40 USC 17306