Codification
Section 1878tt, [Pub. L. 90–224, § 1], Dec. 26, 1967, [81 Stat. 729], authorized extension of loan of ships subject to appropriate terms and conditions, as follows: Argentina, three destroyers, Brazil, two destroyers and two submarines, Chile, two submarines and two destroyers, and Columbia, one destroyer (authorized by sections 1878e to 1878i of this Appendix); Federal Republic of Germany, one destroyer (authorized by sections 1878 to 1878d of this Appendix): Greece, one submarine, and two destroyers (authorized by sections 1878 to 1878d and 1878q to 1878x of this Appendix); Korea, two destroyer escorts and one destroyer and one destroyer escort (authorized by sections 1878 to 1878d and 1878q to 1878x of this Appendix); Portugal, two destroyer escorts, and Spain, two destroyers (authorized by sections 1878 to 1878d of this Appendix); and Peru, one destroyer (authorized by sections 1878e to 1878i of this Appendix).
Section 1878uu, [Pub. L. 90–224, § 2], Dec. 26, 1967, [81 Stat. 729], authorized additional loan of two destroyers to Korean Government and one destroyer to Republic of China, with or without reimbursement, subject to appropriate terms and conditions; provided for charging activation, rehabilitation, and outfitting expenses to funds programed for recipient government as grant military assistance, or as reimbursable, under provision of Foreign Assistance Act of 1961, or successor legislation; and prescribed Dec. 31, 1969, as termination date for executive exercise of naval vessel loan authority under this section.
Section 1878vv, [Pub. L. 90–224, § 3], Dec. 26, 1967, [81 Stat. 729], authorized new loans and loan extensions for five year periods, and an additional five year extension, terminable: for acts of warfare by armed forces of borrowing country against a country party to a mutual defense treaty ratified by the United States; upon an executive finding of seizure of United States fishing vessels on account of fishing activities in international waters by country party to the agreement, except in cases governed by international agreement to which United States is a party; and earlier because of defense requirements of the United States.
Section 1878ww, [Pub. L. 90–224, § 4], Dec. 26, 1967, [81 Stat. 730], required Secretary of Defense to determine loans or extension of loans to be in best interest of United States and to report loans or extensions to Congress.
Section 1878xx, [Pub. L. 90–224, § 5], Dec. 26, 1967, [81 Stat. 730], authorized promulgation of rules and regulations.
