United States Code (Last Updated: May 24, 2014) |
Title 10. ARMED FORCES |
SubTitle A. General Military Law |
Part II. PERSONNEL |
Chapter 53. MISCELLANEOUS RIGHTS AND BENEFITS |
§ 1035. Deposits of savings
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(a) Under joint regulations prescribed by the Secretaries concerned, a member of the armed forces who is on a permanent duty assignment outside the United States or its possessions may deposit during that tour of duty not more than his unallotted current pay and allowances in amounts of $5 or more, with any branch, office, or officer of a uniformed service. Amounts so deposited shall be deposited in the Treasury and kept as a separate fund, and shall be accounted for in the same manner as public funds. (b) Interest at a rate prescribed by the President, not to exceed 10 percent a year, will accrue on amounts deposited under this section. However, the maximum amount upon which interest may be paid under this subsection to any member is $10,000, except that such limitation shall not apply to deposits made on or after September 1, 1966 , in the case of those members in a missing status during the Vietnam conflict, the Persian Gulf conflict, or a contingency operation. Interest under this subsection shall terminate 90 days after the member’s return to the United States or its possessions.(c) Except as provided in joint regulations prescribed by the Secretaries concerned, payments of deposits, and interest thereon, may not be made to the member while he is on duty outside the United States or its possessions. (d) An amount deposited under this section, with interest thereon, is exempt from liability for the member’s debts, including any indebtedness to the United States or any instrumentality thereof, and is not subject to forfeiture by sentence of a court-martial. (e) The Secretary concerned, or his designee, may in the interest of a member who is in a missing status or his dependents, initiate, stop, modify, and change allotments, and authorize a withdrawal of deposits, made under this section, even though the member had an opportunity to deposit amounts under this section and elected not to do so. Interest may be computed from the day the member entered a missing status, or September 1, 1966 , whichever is later.(f) The Secretary of Defense may authorize a member of the armed forces who is on a temporary duty assignment outside of the United States or its possessions in support of a contingency operation to make deposits of unallotted current pay and allowances during that duty as provided in subsection (a). The Secretary shall prescribe regulations establishing standards and procedures for the administration of this subsection. (g) In this section: (1) The term “missing status” has the meaning given that term in section 551(2) of title 37. (2) The term “Vietnam conflict” means the period beginning on February 28, 1961 , and ending onMay 7, 1975 .(3) The term “Persian Gulf conflict” means the period beginning on January 16, 1991 , and ending on the date thereafter prescribed by Presidential proclamation or by law.
Historical And Revision
Historical and Revision Notes | ||
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Revised section | Source (U.S. Code) | Source (Statutes at Large) |
1035(a) | 10:908(a) (less words after last semicolon). 34:937 (less words after last semicolon). | July 15, 1954, ch. 513, §§ 1–3, 68 Stat. 485. |
1035(b) | 10:908b (1st 20, and last 13, words). | |
| 34:938 (1st 20, and last 13, words). | |
1035(c) | 10:908a (words after last semicolon). | |
| 10:908b (less 1st 20, and last 13, words). | |
| 34:937 (words after last semicolon). | |
| 34:938 (less 1st 20, and last 13, words). | |
1035(d) | 10:908c. | |
| 34:939. |
In subsection (a), the words “in amounts of $5 or more” are substituted for the words “in sums not less than $5”. 10:908a (words before 1st semicolon of last sentence) and 34:937 (words before 1st semicolon of last sentence) are omitted as covered by subsection (c).
In subsection (b), the word “accrues” is substituted for the words “shall be paid”.
In subsection (c), the words “not less than $5” are omitted as surplusage.
Amendments
1991—Subsec. (b). Pub. L. 102–190, § 639(a), substituted “, the Persian Gulf conflict, or a contingency operation” for “or during the Persian Gulf conflict” before period at end of second sentence and struck out at end “For purposes of this subsection, the Vietnam conflict begins on
Pub. L. 102–25, § 310(a), (c)(1), struck out “, as defined in section 551(2) of title 37,” after “missing status”, inserted “or during the Persian Gulf conflict” before period at end of second sentence, and substituted “
Subsec. (e). Pub. L. 102–25, § 310(c)(2), struck out “(as defined in section 551(2) of title 37)” after “in a missing status”.
Subsec. (f). Pub. L. 102–190, § 639(b), added subsec. (f) and redesignated former subsec. (f) as (g).
Pub. L. 102–25, § 310(b), added subsec. (f).
Subsec. (g). Pub. L. 102–190, § 639(b)(1), (c), redesignated subsec. (f) as (g) and amended it generally. Prior to amendment, subsec. (g) read as follows: “In this section, the term ‘missing status’ has the meaning given such term in section 551(2) of title 37.”
1986—Subsec. (a). Pub. L. 99–661 substituted “armed forces” for “armed force”.
1984—Subsec. (b). Pub. L. 98–525 substituted “percent” for “per centum”, “subsection” for “Act” after “paid under this”, and “90” for “ninety”.
1970—Subsec. (b). Pub. L. 91–200 permitted accrual of interest on savings above $10,000 ceiling in case of soldiers involved in Vietnam conflicts who have made deposits on or after
1967—Subsec. (e). Pub. L. 90–122 added subsec. (e).
1966—Subsec. (a). Pub. L. 89–538 permitted not only enlisted personnel but any member of the armed forces, provided he is on permanent duty outside the United States, to participate in the savings program organized under this section and changed the fund into which such savings deposits are made.
Subsec. (b). Pub. L. 89–538 changed rate of interest from 4 per centum per annum to a rate prescribed by the President, not to exceed 10 per centum per annum, did away with the necessity that amounts be on deposit for six months or more, set a maximum of $10,000 upon which interest shall be paid, and provided for termination of interest 90 days after the member’s return to the United States or its possessions.
Subsec. (c). Pub. L. 89–538 substituted provisions that, unless changed by joint regulations of the Secretaries concerned, payments of deposits and interest may not be made to the individual while stationed outside of the United States, for provisions that payment of deposits and interest could be made only to the member upon discharge, or before discharge as prescribed by the Secretary concerned, or to the member’s heirs or legal representatives.
Subsec. (d). Pub. L. 89–538 reenacted subsec. (d) substantially without change.
Effective Date Of Amendment
Pub. L. 90–122, § 2,
Miscellaneous
Pub. L. 101–510, div. A, title XI, § 1114,
Pub. L. 89–738,
Pub. L. 89–538, § 2,
Pub. L. 89–538, § 3(c),
Authority vested by this section in “the Secretary concerned” to be exercised with respect to commissioned officers of the Public Health Service, by the Secretary of Health and Human Services or his designee, see section 213a of Title 42, The Public Health and Welfare.
Authority vested by this chapter in “the Secretary concerned” to be exercised, with respect to commissioned officer corps of the National Oceanic and Atmospheric Administration, by Secretary of Commerce or Secretary’s designee, see section 3071 of Title 33, Navigation and Navigable Waters.
Executive Order
Ex. Ord. No. 11298,
By virtue of the authority vested in me by Section 1035 of Title 10 of the United States Code, as amended by the Act of
This order shall be effective