by the Government of Canada. The authority of the President to transfer a submarine under this section terminates on December 31, 1961. (Pub. L. 86-482, § 5, June 1, 1960, 74 Stat. 153.) SECTION REFERRED TO IN OTHER SECTIONS This section is referred to in sections 1878m, 18780 of this Appendix. PUB. L. 87-387, OCT. 4, 1961, 75 STAT. 815 § 1878q. Extensions of loans to Portugal and Spain; terms and conditions. Notwithstanding section 7307 of title 10, United States Code, or any other law, the President may extend the loans of two destroyer escorts to the Government of Portugal and two destroyers to the Government of Spain on such terms and under such conditions as he deems are appropriate. The extensions of the existing loans authorized under this Act [sections 1878q to 1878x of this Appendix] are extensions of the loans made under the authority granted by the Act of August 5, 1953 (67 Stat. 363), as amended by the Act of August 3, 1956 (70 Stat. 967) [sections 1878 to 1878d of this Appendix]. (Pub. L. 87-387, §§ 1, 2, Oct. 4, 1961, 75 Stat. 815.) CODIFICATION Section comprises sections 1 and 2 of Pub. L. 87-387. SECTION REFERRED TO IN OTHER SECTIONS This section is referred to in sections 1878t, 1878u, 1878v, 1878w, 1878x, 1878tt, 1878yy of this Appendix. § 1878r. Periods of extensions. Extensions of existing loans shall be for a period of not to exceed five years and shall be made on the condition that they may be terminated at an earlier date if necessitated by the defense requirements of the United States. (Pub. L. 87-387, § 3, Oct. 4, 1961, 75 Stat. 815.) SECTION REFERRED TO IN OTHER SECTIONS This section is referred to in sections 1878q, 1878t, 1878u, 1878v, 1878w, 1878x, 1878tt, 1878yy of this Appendix. § 1878s. Loans of naval vessels to friendly foreign nations from Reserve Fleet. Notwithstanding section 7307 of title 10, United States Code, or any other law, the President may, under conditions which he prescribes, lend or otherwise make available to friendly foreign nations from the Reserve Fleet, on such terms and under such conditions as he deems appropriate, destroyers, destroyer escorts, and submarines as follows: (1) North Atlantic Treaty Organization and European area, not to exceed six ships; (2) southern Asia, not to exceed two ships; (3) Far Eastern area, not to exceed six ships; and (4) a pool of not to exceed two such ships to be loaned to friendly nations in an emergency as a replacement for a ship, covered under an existing loan, lost by enemy action or an act of God. (Pub L. 87-387, § 4, Oct. 4, 1961, 75 Stat. 815.) SECTION REFERRED TO IN OTHER SECTIONS This section is referred to in sections 1878g, 1878t, 1878u, 1878v, 1878w, 1878x, 1878tt, 1878yy of this Appendix. § 1878t. Periods of loans. New loans executed under this Act [sections 1878q to 1878x of this Appendix] shall be for periods not exceeding five years. All loans shall be made on the condition that they may be terminated at an earlier date if necessitated by the defense requirements of the United States. (Pub. L. 87-387, § 5, Oct. 4, 1961, 75 Stat. 815.) SECTION REFERRED TO IN OTHER SECTIONS This section is referred to in sections 1878q, 1878u, 1878v, 1878w, 1878x, 1878tt, 1878yy of this Appendix. § 1878u. Expenses for vessels. All expenses involved in the activation, rehabilitation, and outfitting, including repairs, alterations, and logistic support of vessels transferred under this Act [sections 1878q to 1878x of this Appendix], shall be charged to funds programed for the recipient government under the Mutual Security Act of 1954, as amended, or successor legislation, or to funds provided by the recipient government. (Pub. L. 87-387, § 6, Oct. 4, 1961, 75 Stat. 815.) REFERENCES IN TEXT Mutual Security Act of 1954, referred to in text, was classified to chapter 24 of Title 22, Foreign Relations and Intercourse, and is now covered by section 2151 et seq. of Title 22. SECTION REFERRED TO IN OTHER SECTIONS This section is referred to in sections 1878q, 1878t, 1878v, 1878w, 1878x, 1878tt, 1878yy of this Appendix. § 1878v. Determination by Secretary of Defense; report to Congress. No loan may be made or extended under this Act [sections 1878q to 1878x of this Appendix] unless the Secretary of Defense, after consulation with the Joint Chiefs of Staff, determines that such loan or extension is in the best interest of the United States. The Secretary of Defense shall keep the Congress currently advised of all loans or extensions made under authority of this Act [sections 1878q to 1878x of this Appendix]. (Pub. L. 87-387, § 7, Oct. 4, 1961, 75 Stat. 815.) SECTION REFERRED TO IN OTHER SECTIONS This section is referred to in sections 1878q, 1878t, 1878u, 1878w, 1878x, 1878tt, 1878yy of this Appendix. § 1878w. Rules and regulations. The President may promulgate such rules and regulations as he deems necessary to carry out the provisions of this Act [sections 1878q to 1878x of this Appendix]. (Pub. L. 87-387, § 8, Oct. 4, 1961, 75 Stat. 815.) SECTION REFERRED TO IN OTHER SECTIONS This section is referred to in sections 1878q, 1878t, 1878u, 1878v, 1878x, 1878tt, 1878yy of this Appendix. § 1878x. Termination of authority. The authority of the President to transfer naval vessels under this Act [sections 1878q to 1878x of this Appendix] terminates on December 31, 1963. (Pub. L. 87-387, § 9, Oct. 4, 1961, 75 Stat. 815.) SECTION REFERRED TO IN OTHER SECTIONS This section is referred to in sections 1878q, 1878t. 1878u, 1878v, 1878w, 1878tt, 1878yy of this Appendix. PUB. L. 88-437, AUG. 14, 1964, 78 STAT. 444 § 1878y. Extension of certain loans. Notwithstanding section 7307 of title 10, United States Code, or any other law, the President may extend on such terms and under such conditions as he deems appropriate the loan of ships, previously authorized as indicated, as follows: (1) Argentina, two submarines (Act of July 18, 1958 (72 Stat. 376)) [sections 1878e to 18781 of this Appendix]; (2) Brazil, two destroyers (Act of July 18, 1958 (72 Stat. 376)); (3) China, four destroyers (Act of August 5, 1953 (67 Stat. 363), as amended) [sections 1878 to 1878d of this Appendix]; (4) Germany, five destroyers (Act of July 18, 1958 (72 Stat. 376)); (5) Greece, four destroyers (Act of July 18, 1958 (72 Stat. 376)); (6) Italy, three submarines (Act of August 5, 1953 (67 Stat. 363), as amended, and Act of July 18, 1958 (72 Stat. 376)); (7) Japan, one submarine (Act of August 5, 1953 (67 Stat. 363)); four destroyers (Act of August 5, 1953 (67 Stat. 363) and Act of July 18, 1958 (72 Stat. 376)), and two destroyer escorts (Act of August 5, 1953 (67 Stat. 363)); (8) Netherlands, two submarines (Act of July 11, 1952 (66 Stat. 587), as amended); (9) Peru, one destroyer (Act of July 18, 1958 (72 Stat. 376)); (10) Spain, one submarine and three destroyers (Act of July 18, 1958 (72 Stat. 376)); (11) Thailand, one destroyer escort (Act of July 18, 1958 (72 Stat. 376)); and (12) Turkey, five submarines (Act of August 7, 1953 (67 Stat. 471), as amended, and Act of July 18, 1958 (72 Stat. 376)). (Pub. L. 88-437, § 1, Aug. 14, 1964, 78 Stat. 444.) SECTION REFERRED TO IN OTHER SECTIONS This section is referred to in sections 1878z, 1878aa, 1878bb of this Appendix. § 1878z. Periods of extensions. All loan extensions executed under this Act [sections 1878y to 1878bb of this Appendix] shall be for periods not exceeding five years, but the President may in his discretion extend such loans for an additional period of not more than five years. They shall be made on the condition that they may be terminated at an earlier date if necessitated by the defense requirements of the United States. (Pub. L. 88-437, § 2, Aug. 14, 1964, 78 Stat. 444.) SECTION REFERRED TO IN OTHER SECTIONS This section is referred to in sections 1878aa, 1878bb of this Appendix. § 1878aa. Determination by Secretary of Defense; reports to Congress. No loan may be extended under this Act [sections 1878y to 1878bb of this Appendix] unless the Secretary of Defense, after consultation with the Joint Chiefs of Staff, determines that such extension is in the best interest of the United States. The Secretary of Defense shall keep the Congress currently advised of all extensions made under authority of this Act [sections 1878y-1878bb of this Appendix]. (Pub. L. 88-437, § 3, Aug. 14, 1964, 78 Stat. 444.) SECTION REFERRED TO IN OTHER SECTIONS This section is referred to in sections 1878z, 1878bb of this Appendix. § 1878bb. Rules and regulations. The President may promulgate such rules and regulations as he deems necessary to carry out the provisions of this Act [sections 1878y to 1878bb of this Appendix]. (Pub. L. 88-437, § 4, Aug. 14, 1964, SECTION REFERRED TO IN OTHER SECTIONS This section is referred to in sections 1878z, 1878aa of this Appendix. PUB. L. 89-324, NOV. 5, 1965, 79 STAT. 1214 § 1878cc. Loan of naval vessels to Italy and Spain; terms and conditions. Notwithstanding section 7307 of title 10, United States Code, or any other law, the President may lend to friendly foreign nations, on such terms and conditions as he deems appropriate, ships from the reserve fleet as follows: (1) Italy, two submarines, and (2) Spain, one helicopter carrier. (Pub. L. 89-324, title I, § 101, Nov. 5, 1965, 79 Stat. 1214.) SECTION REFERRED TO IN OTHER SECTIONS This section is referred to in sections 1878dd, 1878jj, 1878kk, 187811, 1878mm of this Appendix. § 1878dd. Same; expenses involved in making vessels available. All expenses involved in the activation, rehabilitation, and outfitting (including repairs, alterations, and logistic support) of vessels transferred under this title [sections 1878cc and 1878dd of this Appendix] shall be charged to funds provided by the recipient government under the reimbursable provisions of the Foreign Assistance Act of 1961, as amended, or successor legislation. (Pub. L. 89-324, title I, § 102, Nov. 5, 1965, 79 Stat. 1214.) REFERENCES IN TEXT The Foreign Assistance Act of 1961, as amended, referred to in the text, is classified to chapter 32 of Title 22, Foreign Relations and Intercourse. SECTION REFERRED TO IN OTHER SECTIONS This section is referred to in sections 1878jj, 1878kk, 187811, 1878mm of this Appendix. § 1878ee. Sale or loan of naval vessels to Argentina and Brazil; terms and conditions. Notwithstanding section 7307 of title 10, United States Code, or any other law, the President may sell or lend, at his discretion, to friendly foreign nations of Latin America from the reserve fleet, on such terms and conditions as he deems appropriate, destroyers as follows: (1) Argentina, two destroyers, Brazil, three destroyers. (Pub. L. 89-324, title II, § 201, Nov. 5, 1965, 79 Stat. 1214.) SECTION REFERRED TO IN OTHER SECTIONS This section is referred to in sections 1878ff, 1878jj. 1878kk, 187811, 1878mm of this Appendix. § 1878ff. Same; expenses involved in making vessels available. All expenses involved in the activation, rehabilitation, and outfitting (including repairs, alterations, and logistic support) of vessels transferred under this title [sections 1878ee to 1878gg of this Appendix] shall be charged to funds provided by the recipient government under the reimbursable provisions of the Foreign Assistance Act of 1961, as amended, or successor legislation. (Pub. L. 89-324, title II, § 202, Nov. 5, 1965, 79 Stat. 1214.) REFERENCES IN TEXT The Foreign Assistance Act of 1961, as amended, referred to in the text, is classified to chapter 32 of Title 22, SECTION REFERRED TO IN OTHER SECTIONS This section is referred to in sections 187811, 1878kk, 187811, 1878mm of this Appendix. § 1878gg. Sale of vessels; striking from Naval Vessel Register; minimum amount. Notwithstanding sections 7304 and 7305 of title 10, United States Code, should the President determine that the vessel or vessels shall be sold to the recipient government, said vessel or vessels shall be stricken from the Naval Vessel Register. The vessel or vessels shall be sold at not less than $1,000,000 each over and above any cost of activation, overhaul, or modification. All sales will be made pursuant to the Foreign Assistance Act of 1961, as amended, or successor legislation. (Pub. L. 89-324, title II, § 203, Nov. 5, 1965, 79 Stat. 1214.) REFERENCES IN TEXT The Foreign Assistance Act of 1961, as amended, referred to in the text, is classified to chapter 32 of title 22, Foreign Relations and Intercourse. SECTION REFERRED TO IN OTHER SECTIONS This section is referred to in sections 1878ff, 1878jj, 1878kk, 187811, 1878mm of this Appendix. § 1878hh. Loan of naval vessels to Turkey and Philippines; terms and conditions. Notwithstanding section 7307 of title 10, United States Code, or any other law, the President may lend to friendly foreign nations, on such terms and conditions as he deems appropriate, ships from the reserve fleet as follows: (1) Turkey, two destroyers, and (2) the Philippines, one destroyer escort. (Pub. L. 89-324, title III, § 301, Nov. 5, 1965, 79 Stat. 1214.) SECTION REFERRED TO IN OTHER SECTIONS This section is referred to in sections 187811, 18781]. 1878kk, 187811, 1878mm of this Appendix. § 1878ii. Same; expenses involved in making vessels available. All expenses involved in the activation, rehabilitation, and outfitting (including repairs, alterations, and logistic support) of vessels transferred under this title [sections 1878hh and 1878ii of this Appendix], shall be charged to funds programed for the recipient government as grant military assistance, or as reimbursable, under the provisions of the Foreign Assistance Act of 1961, as amended, or successor legislation. (Pub. L. 89-324, title III, § 302, Nov. 5, 1965, 79 Stat. 1214.) REFERENCES IN TEXT The Foreign Assistance Act of 1961, as amended, referred to in the text, is classified to chapter 32 of title 22, Foreign Relations and Intercourse. SECTION REFERRED TO IN OTHER SECTIONS This section is referred to in sections 187811, 1878kk, 187811, 1878mm of this Appendix. § 1878jj. Periods of loans and extensions; condition. Loans executed under this Act [sections 1878cc1878mm of this Appendix] shall be for periods not exceeding five years, but the President may in his discretion extend such loans for an additional period of not more than five years. They shall be made on the condition that they may be terminated at an earlier date if necessitated by the defense re quirements of the United States. (Pub. L. 89-324, title IV, § 401, Nov. 5, 1965, 79 Stat. 1215.) SECTION REFERRED TO IN OTHER SECTIONS This section is referred to in sections 1878kk, 187811, 1878mm of this Appendix. § 1878kk. Determination by Secretary of Defense; notice to Congress. No sale or loan may be made under this Act [sections 1878cc to 1878mm of this Appendix] unless the Secretary of Defense, after consultation with the Joint Chiefs of Staff, determines that such sale or loan is in the best interest of the United States. The Secretary of Defense shall keep the Congress currently advised of all sales or loans made under authority of this Act [sections 1878cc to 1878mm of this Appendix]. (Pub. L. 89-324, title IV, § 402, Nov. 5, 1965, 79 Stat. 1215.) SECTION REFERRED TO IN OTHER SECTIONS This section is referred to in sections 187811, 1878ll, 1878mm of this Appendix. § 187811. Rules and regulations. The President may promulgate such rules and regulations as he deems necessary to carry out the provisions of this Act [sections 1878cc to 1878mm of this Appendix]. (Pub. L. 89-324, title IV, § 403, Nov. 5, 1965, 79 Stat. 1215.) SECTION REFERRED TO IN OTHER SECTIONS This section is referred to in sections 1878jj, 1878kk, 1878mm of this Appendix. § 1878mm. Termination of authority. The authority of the President to sell or lend naval vessels under this Act [sections 1878cc to 1878mm of this Appendix] terminates on December 31, 1967. (Pub. L. 89-324, title IV, § 404, Nov. 5, 1965, 79 Stat. 1215.) SECTION REFERRED TO IN OTHER SECTIONS This section is referred to in sections 1878]], 1878kk, 187811 of this Appendix. SECTION REFERRED TO IN OTHER SECTIONS This section is referred to in sections 187800, 1878pp, 1878qq, 1878гr, 1878ss of this Appendix. § 187800. Expenses involved in making vessels available. All expenses involved in the activation, rehabilitation, and outfitting (including repairs, alterations, and logistic support) of vessels transferred under this Act [1878nn to 1878ss of this Appendix], shall be charged to funds programed for the recipient government as grant military assistance, or as reimbursable, under the provisions of the Foreign Assistance Act of 1961, as amended, or successor legislation. (Pub. L. 89-398, § 2, Apr. 16, 1966, 80 Stat. 121.) REFERENCES IN TEXT The Foreign Assistance Act of 1961, as amended referred to in the text, is classified to chapter 32 of Title 22, Foreign Relations and Intercourse. SECTION REFERRED TO IN OTHER SECTIONS This section is referred to in sections 1878pp, 1878qq, 1878rr, 1878ss of this Appendix. § 1878pp. Periods of loans and extensions; condition. Loans executed under this act [sections 1878nn to 1878ss of this Appendix] shall be for periods not exceeding five years, but the President may in his discretion extend such loans for an additional period of not more than five years. All loans shall be made on the condition that they may be terminated at an earlier date if necessitated by the defense requirements of the United States. (Pub. L. 89-398, § 3, Apr. 16, 1966, 80 Stat. 121.) SECTION REFERRED TO IN OTHER SECTIONS This section is referred to in sections 187800, 1878qq, 1878rr, 1878ss of this Appendix. § 1878qq. Determination by Secretary of Defense; notice to Congress. No loan may be made under this Act [sections 1878nn to 1878ss of this Appendix] unless the Secretary of Defense, after consultation with the Joint Chiefs of Staff, determines that such loan is in the best interest of the United States. The Secretary of Defense shall keep the Congress currently advised of all extensions or loans made under authority of this Act [sections 1778nn to 1878ss of this Appendix]. (Pub. L. 89-398, § 4, Apr. 16, 1966, 80 Stat. 121.) SECTION REFERRED TO IN OTHER SECTIONS This section is referred to in sections 187800, 1878pp, 1878rr, 1878ss of this Appendix. § 1878rr. Rules and regulations. The President may promulgate such rules and regulations as he deems necessary to carry out the provisions of this Act [sections 1878nn to 1878ss of this Appendix). (Pub. L. 89-398, § 5, Apr. 16, 1966, 80 Stat. 121.) SECTION REFERRED TO IN OTHER SECTIONS This section is referred to in sections 187800, 1878pp, 1878qq, 1878ss of this Appendix. § 1878ss. Termination of authority. The authority of the President to lend naval vessels under this Act [sections 1878nn to 1878ss of this Appendix] terminates on December 31, 1967. (Pub. L. 89-398, § 6, Apr. 16, 1966, 80 Stat. 121.) SECTION REFERRED TO IN OTHER SECTIONS This section is referred to in sections 187800, 1878pp, 1878qq, 1878гr of this Appendix. PUB. L. 90-224, DEC. 26, 1967, 81 STAT. 729 § 1878tt. Extension of certain loans. Notwithstanding section 7307 of title 10, United States Code, or any other law, the President may extend on such terms and under such conditions as he deems appropriate the loan of ships, previously authorized as indicated, as follows: (1) Argentina, three destroyers (Act of July 18, 1958 (72 Stat. 376)) [sections 1878e to 18781 of this Appendix]; (2) Brazil, two destroyers and two submarines (Act of July 18, 1958 (72 Stat. 376)); (3) Chile, two submarines and two destroyers (Act of July 18, 1958 (72 Stat. 376)); (4) Colombia, one destroyer (Act of July 18, 1958 (72 Stat. 376)); (5) Federal Republic of Germany, one destroyer (Act of August 5, 1953 (67 Stat. 363), as amended by Act of August 3, 1956 (70 Stat. 967)) [sections 1878 to 1878d of this Appendix]; (6) Greece, one submarine (Act of August 5, 1953 (67 Stat. 363), as amended by Act of August 3, 1956 (70 Stat. 967)), two destroyers (Act of October 4, 1961 (75 Stat. 815)) [sections 1878g to 1878x of this Appendix]; (7) Korea, two destroyer escorts (Act of August 5, 1953 (67 Stat. 363), as amended), one destroyer and one destroyer escort (Act of October 4, 1961 (75 Stat. 815)); (8) Portugal, two destroyer escorts (Act of August 5, 1953 (67 Stat. 363), as amended by Act of August 3, 1956 (70 Stat. 967)); (9) Spain, two destroyers (Act of August 5, 1953 (67 Stat. 363), as amended by Act of August 3, 1956 (70 Stat. 967)); (10) Peru, one destroyer (Act of July 18, 1958 (72 Stat. 376)). (Pub. L. 90-224, § 1, Dec. 26, 1967, 81 Stat. 729.) SECTION REFERRED TO IN OTHER SECTIONS This section is referred to in sections 1878vv, 1878ww, 1878xx of this Appendix. § 1878uu. Loan of vessels to Korea and China; termination of authority on December 31, 1969. Notwithstanding section 7307 of title 10, United States Code, or any other provision of law, the President may lend two destroyers to the Government of Korea and one destroyer to the Republic of China, in addition to any ships previously authorized to be loaned to these nations, with, or without reimbursement and on such terms and under such conditions as the President may deem appropriate. All expenses involved in the activation, rehabilitation, and outfitting (including repairs, alterations, and logistic support) of ships transferred under this section shall be charged to funds programed for the recipient government as grant military assistance, or as reimbursable, under the provision of the Foreign Assistance Act of 1961, as amended [chapter 32 of Title 221, or successor legislation. The authority of the President to lend naval vessels under this section shall terminate on December 31, 1969. (Pub. L. 90-224, § 2, Dec. 26, 1967, 81 Stat. 729.) SECTION REFERRED TO IN OTHER SECTIONS This section is referred to in sections 1878vv, 1878ww. 1878xx of this Appendix. § 1878vv. Five-year period limitation on loans; discretionary extension; acts of warfare by recipient country; early termination. All new loans and loan extensions executed under this Act [sections 1878tt to 1878xx of this Appendix] shall be for periods not exceeding five years, but the President may in his discretion extend such loans for an additional period of not more than five years. Any agreement for a new loan or for the extension of a loan executed under this Act shall be made subject to the condition that the agreement may be terminated by the President if he finds that the armed forces of the borrowing country have engaged, at any time after the date of such agreement, in acts of warfare against any country which is a party to a mutual defense treaty ratified by the United States. Any agreement for a new loan or for the extension of a loan executed pursuant to this Act shall be subject to the condition that the agreement will be immediately terminated upon a finding made by the President that the country with which such agreement was made has seized any United States fishing vessel on account of its fishing activities in international waters, except that such condition shall not be applicable in any case governed by international agreement to which the United States is a party. All loans and loan extensions shall be made on the condition that they may be terminated at an earlier date if necessitated by the defense requirements of the United States. (Pub. L. 90-224, § 3, Dec. 26, 1967, 81 Stat. 729.) SECTION REFERRED TO IN OTHER SECTIONS This section is referred to in sections 1878ww, 1878xx of this Appendix. § 1878ww. Determination of Secretary of Defense; reports to Congress. No loan may be made or extended under this Act [sections 1878tt to 1878xx of this title]unless the Secretary of Defense, after consultation with the Joint Chiefs of Staff, determines that such loan or extension is in the best interest of the United States. The Secretary of Defense shall keep the Congress currently advised of all loans made or extended under this Act. (Pub. L. 90-224, § 4, Dec. 26, 1967, 81 Stat. 730.) SECTION REFERRED TO IN OTHER SECTIONS This section is referred to in sections 1878vv, 1878xx of this Appendix. § 1878xx. Rules and regulations. The President may promulgate such rules and regulations as he deems necessary to carry out the provisions of this Act [sections 1878tt to 1878xx of this title). (Pub. L. 90-224, § 5, Dec. 26, 1967, 81 Stat. 730.) SECTION REFERRED TO IN OTHER SECTIONS This section is referred to in sections 1878vv, 1878ww of this Appendix. PUB. L. 91-682, JAN. 12, 1971, 84 STAT. 2066 § 1878yy. Extension of certain loans. Notwithstanding section 7307 of title 10, United States Code, or any other law, the President may extend on such terms and under such conditions as he deems appropriate the loan of ships, previously authorized as indicated, as follows: (1) Greece, one submarine (Act of October 4, 1961 (75 Stat. 815)) [sections 1878q to 1878x of this Appendix] and, (2) Pakistan, one submarine (Act of October 4, 1961 (75 Stat. 815.)) (Pub. L. 91-682, § 1, Jan. 12, 1971, 84 Stat. 2066.) SECTION REFERRED TO IN OTHER SECTIONS This section is referred to in sections 1878zz-1, 1878zz-2, 1878zz-3 of this Appendix. § 1878zz. Loan of vessels to Vietnam and Turkey; termination of authority on December 31, 1971. Notwithstanding section 7307 of title 10, United States Code, or any other provision of law, the President may lend two destroyer escorts to the Republic of Vietnam and two destroyers and two submarines to the Government of Turkey in addition to any ships previously authorized to be loaned to these nations, with or without reimbursement and on such terms and under such conditions as the President may deem appropriate. All expenses involved in the activation, rehabilitation, and outfitting (including repairs, alterations, and logistic support) of ships transferred under this section shall be charged to funds programed for the recipient government as grant military assistance under the provisions of the Foreign Assistance Act of 1961, as amended [chapter 32 of Title 221, or successor legislation, or to funds provided by the recipient government. The authority of the President to lend naval vessels under this section shall terminate on December 31, 1971. (Pub. L. 91-682, § 2, Jan. 12, 1971, 84 Stat. 2066.) SECTION REFERRED TO IN OTHER SECTIONS This section is referred to in sections 1878zz-1, 1878zz-2, 1878zz-3 of this Appendix. § 1878zz-1. Five-year period limitation on loans; discretionary extension; acts of warfare by recipient country; early termination. All new loans and loan extensions executed under this Act [sections 1878yy to 1878zz-3 of this Appendix] shall be for periods not exceeding five years, but the President may in his discretion extend such loans for an additional period of not more than five years. Any agreement for a new loan or for the extension of a loan executed under this Act shall be made subject to the condition that the agreement may be terminated by the President if he finds that the armed forces of the borrowing country have engaged, at any time after the date of such agreement, in acts of warfare against any country which is a party to a mutual defense treaty ratified by the United States. All loans and loan extensions shall be made on the condition that they may be terminated at an earlier date if necessitated by the defense requirements of the United States. (Pub. L. 91-682, § 3, Jan. 12, 1971, 84 Stat. 2066.) SECTION REFERRED TO IN OTHER SECTIONS This section is referred to in sections 1878zz-2, 1878zz-3, of this Appendix. § 1878zz-2. Determination of Secretary of Defense; reports to Congress. No loan may be made or extended under this Act [sections 1878yy to 1878zz-3 of this Appendix] unless the Secretary of Defense, after consultation with the Joint Chiefs of Staff, determines that such loan or extension is in the best interest of the United States. The Secretary of Defense shall keep the Congress currently advised of all loans made or extended under this Act. (Pub. L. 91-682, § 4, Jan. 12, 1971, 84 Stat. 2067.) SECTION REFERRED TO IN OTHER SECTIONS This section is referred to in sections 1878zz-1, 1878zz-3, of this Appendix. § 1878zz-3. Rules and regulations. The President may promulgate such rules and regulations as he deems necessary to carry out the provisions of this Act [sections 1878yy to 1878zz-3 of this Appendix]. (Pub. L. 91-682, § 5, Jan. 12, 1971, 84 Stat. 2067.) SECTION REFERRED TO IN OTHER SECTIONS This section is referred to in sections 1878zz-1, 1878zz-2, of this Appendix. |