Codification
Section 1878e, [Pub. L. 85–532, § 1], July 18, 1958, [72 Stat. 376], authorized extension of loan of aircraft carrier to French Government until June 30, 1960 [originally until June 30, 1958, under section 1878a of this Appendix], and made available to friendly foreign nations destroyers, destroyer escorts, and submarines from the reserve fleet, as follows: North Atlantic Treaty Organization and European area, nineteen ships; Latin American area, eighteen ships; Far Eastern area, four ships; emergency loans, two ships, and authorized promulgation of rules and regulations.
Section 1878f, [Pub. L. 85–532, § 2], July 18, 1958, [72 Stat. 376], limited the loans to five year periods terminable earlier because of defense requirements of United States.
Section 1878g, [Pub. L. 85–532, § 3], July 18, 1958, [72 Stat. 376], provided for the charging of activation, rehabilitation, and outfitting expenses to funds programed for recipient government under Mutual Security Act of 1954, or to funds provided by recipient government under reimbursable provisions of such Act and for reimbursement of recipient government by Secretary of Defense on a pro rata basis for funds provided by it under the reimbursable provisions where loan was terminated prior to the expiration date.
Section 1878h, [Pub. L. 85–532, § 4], July 18, 1958, [72 Stat. 376], required Secretary of Defense to determine transfers to be in best interests of United States and to report transfers to Congress.
Section 1878i, [Pub. L. 85–532, § 5], July 18, 1958, [72 Stat. 376], prescribed Dec. 31, 1960, as termination date for executive exercise of naval vessel transfer authority under sections 1878e to 1878i of this Appendix.
