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Current as of January 01, 2024 | Updated by Findlaw Staff
(a) Prize property may be delivered to a claimant on stipulation, deposit, or other security, if--
(1) the claimant satisfies the court that the property has a peculiar and intrinsic value to him, independent of its market value;
(2) the court is satisfied that the rights and interests of the United States or of other claimants will not be prejudiced;
(3) an opportunity is given to the United States attorney and the naval prize commissioner or the naval special prize commissioner to be heard as to the appointment of appraisers; and
(4) a satisfactory appraisal is made.
(b) Money collected on a stipulation, or deposited instead of it, that does not represent costs shall be deposited with the Treasurer of the United States or a public depositary in the same manner as proceeds of a sale.
Cite this article: FindLaw.com - 10 U.S.C. § 8864 - U.S. Code - Unannotated Title 10. Armed Forces § 8864. Delivery of property on stipulation - last updated January 01, 2024 | https://codes.findlaw.com/us/title-10-armed-forces/10-usc-sect-8864/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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