14 U.S.C. § 2142 - U.S. Code - Unannotated Title 14. Coast Guard § 2142. Regular lieutenants (junior grade); separation for failure of selection for promotion

(1) be honorably discharged on June 30 of the promotion year in which his second failure of selection occurs; or

(2) if he so requests, be honorably discharged at an earlier date without loss of benefits that would accrue if he were discharged on that date under clause (1); or

(3) if, on the date specified for his discharge in this section, he is eligible for retirement under any law, be retired on that date.