48 U.S.C. § 1407 : US Code - Section 1407 TO 1407I: Repealed. Pub. L. 97-357, title III, Sec. 308(e), Oct. 19, 1982, 96 Stat. 1710

Search 48 U.S.C. § 1407 : US Code - Section 1407 TO 1407I: Repealed. Pub. L. 97-357, title III, Sec. 308(e), Oct. 19, 1982, 96 Stat. 1710

Section 1407, act June 30, 1949, ch. 285, Sec. 1, 63 Stat. 350,
related to creation of Virgin Islands Corporation under direction
of the President of the United States or his representative for
promotion of economic development of Virgin Islands.
Section 1407a, act June 30, 1949, ch. 285, Sec. 2, 63 Stat. 351,
related to principal offices of Corporation for venue purposes and
establishment of branch offices.
Section 1407b, act June 30, 1949, ch. 285, Sec. 3, 63 Stat. 351,
set forth authorized activities of Corporation.
Section 1407c, acts June 30, 1949, ch. 285, Sec. 4, 63 Stat. 352;
Sept. 2, 1958, Pub. L. 85-913, Secs. 1-3, 72 Stat. 1759; June 6,
1972, Pub. L. 92-310, title II, Sec. 234, 86 Stat. 214, related to
general powers of Corporation.
Section 1407d, act June 30, 1949, ch. 285, Sec. 5, 63 Stat. 353,
related to utilization of other Federal agencies and
instrumentalities.
Section 1407e, acts June 30, 1949, ch. 285, Sec. 6, 63 Stat. 353;
Sept. 2, 1958, Pub. L. 85-913, Sec. 4, 72 Stat. 1760; Oct. 4, 1961,
Pub. L. 87-382, 75 Stat. 812, related to appropriation of money and
establishment of a revolving fund.
Section 1407f, act June 30, 1949, ch. 285, Sec. 7, 63 Stat. 353;
1970 Reorg. Plan No. 2, Sec. 102, eff. July 1, 1970, 35 F.R. 7959,
84 Stat. 2085, related to use of funds and limitations thereon,
interest payments to Treasury on advances, and contributions to
retirement and disability funds.
Section 1407g, acts June 30, 1949, ch. 285, Sec. 8, 63 Stat. 354;
Sept. 2, 1958, Pub. L. 85-913, Sec. 5, 72 Stat. 1760, related to
authorization of appropriations necessary to cover losses
substained in revenue-producing activities, expenses incurred in
non-revenue-producing activities, and an appraisal of necessary
working capital.
Section 1407h, acts June 30, 1949, ch. 285, Sec. 9, 63 Stat. 354;
Sept. 2, 1958, Pub. L. 85-913, Sec. 6, 72 Stat. 1760, related to
Board of Directors of Corporation.
Section 1407i, act June 30, 1949, ch. 285, Sec. 10, 63 Stat. 355;
1970 Reorg. Plan No. 2, Sec. 102, eff. July 1, 1970, 35 F.R. 7959,
84 Stat. 2085, related to transfer of functions, assets, and
property of Virgin Islands Company to Corporation.
EFFECTIVE DATE
Act June 30, 1949, ch. 285, Sec. 14, 63 Stat. 356, which provided
that act June 30, 1949, ch. 285 [see Short Title note below] become
effective June 30, 1949, was repealed by Pub. L. 97-357, title III,
Sec. 308(e), Oct. 19, 1982, 96 Stat. 1710.
SHORT TITLE
Act June 30, 1949, ch. 285, Sec. 15, 63 Stat. 356, provided that
act June 30, 1949, enacting sections 1407 to 1407i of this title
and amending section 1401d of this title and section 846 of former
Title 31, Money and Finance, could be cited as the "Virgin Islands
Corporation Act", prior to repeal by Pub. L. 97-357, title III,
Sec. 308(e), Oct. 19, 1982, 96 Stat. 1710.
SAVINGS PROVISION
Section 308(e) of Pub. L. 97-357 provided in part: "That nothing
in this subsection [repealing sections 1407 to 1407i of this title]
shall affect the pension rights of former employees of the Virgin
Islands Corporation."
TRANSFER OF FACILITIES; INVESTMENT INCREASE; SUPPLY OF ELECTRIC
POWER
Pub. L. 85-913, Sec. 7, Sept. 2, 1958, 72 Stat. 1760, authorized
the Secretary of the Navy to transfer and convey to the Virgin
Islands Corporation, without reimbursement, the power-generating
facilities located at the Marine Corps air facility and naval
submarine base, Saint Thomas, Virgin Islands, together with all the
land, buildings, structures, facilities, distribution lines, fuel
tanks, and equipment appurtenant thereto and necessary for the
operation thereof, with such transfer to be accomplished not later
than June 30, 1969.
DISSOLUTION OF VIRGIN ISLANDS COMPANY
Act June 30, 1949, ch. 285, Sec. 11, 63 Stat. 355, authorized the
Secretary of the Interior, the Under Secretary of the Interior, and
the Governor of the Virgin Islands, as the stockholders of the
Virgin Islands Company, a corporation created by ordinance of the
Colonial Council for Saint Thomas and Saint John, Virgin Islands of
the United States, to take such steps as may be appropriate to
dissolve the Virgin Islands Company, prior to repeal by Pub. L. 97-
357, title III, Sec. 308(e), Oct. 19, 1982, 96 Stat. 1710.