Notes on bounty lands : US Code - Notes

Search Notes on bounty lands : US Code - Notes

REPEALS; RIGHTS SAVED; AUTHORIZATION TO PURCHASE AND CANCEL
UNSATISFIED WARRANTS; PROCEDURE; LIMITATIONS; RIGHTS OF
TRANSFEREES; FUNDS FOR PAYMENTS
Pub. L. 87-558, July 27, 1962, 76 Stat. 246, provided: "That
sections 457, 473, and 2414-2446, inclusive, of the Revised
Statutes, as amended [sections 782, 785, 791 to 808, and 821 to 835
of this title], and the Act of December 13, 1894 (28 Stat. 594)
[section 783 of this title], are hereby repealed. Repeal of said
laws shall not affect the rights of holders of warrants described
in section 2 of this Act, until such rights are extinguished in
accordance with said section, to have their warrants receivable in
payment or part payment for lands under the Act of December 13,
1894, supra, to assign their warrants pursuant to sections 2414 and
2444 of the Revised Statutes, and to secure a new warrant in lieu
of a warrant lost or destroyed pursuant to section 2441 of the
Revised Statutes.
"Sec. 2. The Secretary of the Interior is hereby authorized and
directed to purchase at the rate of $1.25 per acre from the holders
thereof and to cancel all valid unsatisfied military bounty land
warrants which were issued pursuant to the laws repealed by section
1 of this Act and which are recorded with the Secretary pursuant
to, and under the terms and conditions of, the Act of August 5,
1955 (69 Stat. 534) [set out as a note to section 274 of this
title], and the regulations issued thereunder. The Secretary will
send his offer to purchase by registered mail to the post office
address of the holder of record with the Secretary as of the time
the offer is made and will require the holder to surrender the
warrant as a condition of payment therefor. If the holder of a
warrant, within one year from and after receipt of an offer to
purchase from the Secretary, shall fail to surrender his warrant
and accept payment therefor as provided for in this section, the
warrant shall not thereafter be accepted by the Secretary of the
Interior for further recordation under the Act of 1955, supra, or
as a basis for the acquisition of lands, or for payment under this
section: Provided, That if within the one year after receipt of an
offer to purchase, the warrant is transferred the transferee shall
have the remainder of the one-year period or a period of six
months, whichever is the longer, within which to surrender his
warrant and accept payment.
"Sec. 3. Payments under section 2 of this Act shall be made out
of any appropriated funds available to the Secretary of the
Interior for expenditure by him."