Notes on 31 U.S.C. § 3102 : US Code - Notes
Search Notes on 31 U.S.C. § 3102 : US Code - Notes
(Pub. L. 97-258, Sept. 13, 1982, 96 Stat. 938; Pub. L. 97-452, Sec.
1(5), Jan. 12, 1983, 96 Stat. 2467; Pub. L. 98-34, Sec. 2, May 26,
1983, 97 Stat. 196; Pub. L. 98-302, Sec. 2, May 25, 1984, 98 Stat.
217; Pub. L. 99-272, title XIII, Sec. 13212, Apr. 7, 1986, 100
Stat. 325; Pub. L. 100-203, title IX, Sec. 9403, Dec. 22, 1987, 101
Stat. 1330-377; Pub. L. 100-647, title VI, Sec. 6301, Nov. 10,
1988, 102 Stat. 3755.)
HISTORICAL AND REVISION NOTES
1982 ACT
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Revised Source (U.S. Code) Source (Statutes at Large)
Section
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3102(a) 31:752(1st par.). Sept. 24, 1917, ch. 56, Sec.
1(1st par.), 40 Stat. 288;
restated Apr. 4, 1918, ch. 44,
Sec. 1, 40 Stat. 502; July 9,
1918, ch. 142, Sec. 1, 40
Stat. 844; Mar. 3, 1931, ch.
433, 46 Stat. 1506; Feb. 4,
1935, ch. 5, Sec. 1, 49 Stat.
20; May 26, 1938, ch. 285,
Sec. 1, 52 Stat. 447.
31:752(2d par. less Sept. 24, 1917, ch. 56, Sec.
form of bonds). 1(2d par. less form of bonds),
40 Stat. 288; restated Apr. 4,
1918, ch. 44, Sec. 1, 40 Stat.
502; Mar. 17, 1971, Pub. L.
92-5, Sec. 3, 85 Stat. 5; July
1, 1973, Pub. L. 93-53, Sec.
2, 87 Stat. 135; Mar. 15,
1976, Pub. L. 94-232, Sec.
3(a), 90 Stat. 217; June 30,
1976, Pub. L. 94-334, Sec. 2,
90 Stat. 793; Oct. 4, 1977,
Pub. L. 95-120, Sec. 3, 91
Stat. 1090; Aug. 3, 1978, Pub.
L. 95-333, Sec. 3, 92 Stat.
419; Apr. 2, 1979, Pub. L.
96-5, Sec. 3, 93 Stat. 8;
Sept. 29, 1979, Pub. L. 96-78,
Sec. 102, 93 Stat. 589; Oct.
3, 1980, Pub. L. 96-377, Sec.
2, 94 Stat. 1512.
3102(b) 31:752(3d par. 1st Sept. 24, 1917, ch. 56, Sec.
sentence words 1(3d par.), 40 Stat. 288;
before 4th comma). restated Apr. 4, 1918, ch. 44,
Sec. 1, 40 Stat. 502.
31:752(4th par. Sept. 24, 1917, ch. 56, 40
related to a Stat. 288, Sec. 1(4th par.);
popular loan). added Jan. 30, 1934, ch. 6,
Sec. 14(a)(1), 48 Stat. 343.
3102(c)( 31:752(3d par. 1st
1) sentence words
between 4th comma
and proviso), (4th
par. related to
allotments).
3102(c)( 31:752(3d par. 1st
2) sentence proviso).
3102(d) 31:752(3d par. last
sentence).
3102(e) 31:752(3d par. 2d
sentence).
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In subsection (a), the word "amounts" is substituted for "sum or
sums" for consistency. The words "as in his judgment may be" are
omitted as surplus. The words "for expenditures authorized by law"
are substituted for "for the purposes of this Act . . . and to meet
expenditures authorized for the national security and defense and
other public purposes authorized by law" because they are inclusive
and for consistency. The words "under section 3111 of this title"
are substituted for "at or before maturity, of any outstanding
bonds, notes, certificates of indebtedness, or Treasury bills of
the United States" because of the restatement. The words "prescribe
conditions under section 3121 of this title" are substituted for
the text of 31:752(2d par. 1st sentence less form of bonds, 2d
sentence) because of the restatement. The words "at any annual
interest rate" are added for clarity and to more precisely define
the 4.25 percent limitation. The words "bonds may not be issued
under this section to the public, or sold by a Government account
to the public, with a rate of interest exceeding 4 1/4 per centum
per annum in an amount which would cause" are omitted as surplus.
In subsections (b), (d), and (e), the words "not less than par"
are omitted as superseded by section 3 of the Public Debt Act of
1942 (ch. 205, 56 Stat. 189), restated in section 3121 of the
revised title.
In subsection (b), the words "under regulations of the Secretary
that allow" are substituted for "under such regulations, prescribed
by the Secretary of the Treasury from time to time, as will in his
opinion give" to eliminate unnecessary words. The words
"subscribing to the offered bonds" are substituted for "therein"
for clarity. The words "However . . . when the Secretary decides
the other way is in the public interest" are substituted for
"Notwithstanding the provisions of the foregoing paragraph, the
Secretary of the Treasury may from time to time, when he deems it
to be in the public interest" to eliminate unnecessary words.
In subsection (c)(1), before clause (A), the words "and may from
time to time adopt any or all of said methods, should any such
action" in 31:752(3d par. 1st sentence words between 4th comma and
proviso) are omitted because of the restatement. The word "decides"
is substituted for "deemed" in 31:752(3d par. 1st sentence words
between 4th comma and proviso) and "deems" in 31:752a(4th par.
related to allotments) for consistency. The words "in making a bond
offering under this section" are added for clarity.
In subsection (c)(2), the word "regulations" is substituted for
"general rules" for consistency in the revised title and with other
titles of the United States Code.
In subsection (d), the words "members of armed forces" are
substituted for "persons in the military or naval forces of the
United States" for clarity and consistency with title 10.
1983 ACT
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Revised Source (U.S. Code) Source (Statutes at Large)
Section
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3102(a) 31 App.:752(2d par. Sept. 3, 1982, Pub. L. 97-248,
less form of bonds). Sec. 289(c), 96 Stat. 572.
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AMENDMENTS
1988 - Subsec. (a). Pub. L. 100-647 struck out at end: "However,
the face amount of bonds issued under this section and held by the
public with interest rates of more than 4.25 percent a year may not
be more than $270,000,000,000."
1987 - Subsec. (a). Pub. L. 100-203 substituted
"$270,000,000,000" for "$250,000,000,000".
1986 - Subsec. (a). Pub. L. 99-272 substituted "$250,000,000,000"
for "$200,000,000,000".
1984 - Subsec. (a). Pub. L. 98-302 substituted "$200,000,000,000"
for "$150,000,000,000".
1983 - Subsec. (a). Pub. L. 98-34 substituted "$150,000,000,000"
for "$110,000,000,000".
Pub. L. 97-452 substituted "$110,000,000,000" for
"$70,000,000,000".