View all text of Chapter 53 [§ 4301 - § 4341]

§ 4312. Property transferred to Alien Property Custodian

All moneys (including checks and drafts payable on demand) paid to or received by the alien property custodian pursuant to this chapter shall be deposited forthwith in the Treasury of the United States, and may be invested and reinvested by the Secretary of the Treasury in United States bonds or United States certificates of indebtedness, under such rules and regulations as the President shall prescribe for such deposit, investment, and sale of securities; and as soon after the end of the war as the President shall deem practicable, such securities shall be sold and the proceeds deposited in the Treasury.

(Oct. 6, 1917, ch. 106, § 12, 40 Stat. 423; Mar. 28, 1918, ch. 28, § 1, 40 Stat. 460.)