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LegalText 22 U.S.C. § 2777 Fiscal provisions relating to foreign military sales credits us united_states_code code_section 22 FOREIGN RELATIONS AND INTERCOURSE 39 ARMS EXPORT CONTROL 2777 22 U.S.C. § 2777 current 119-100 2026-06-26 official https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc22@119-100.zip /us/usc/t22/s2777 data/legal/raw/us/code/title-22/usc22.xml 7443d47f40dc9c13dfce089b8ea59ee0beaa6ce720a50d3f5438a94b6df0682a b9c63ede722f5e0bf8eabfe9029e06e312ab9bcfd95c4d1424ed515baff1df83 bde4b3907f35e6e16c4937937b8ba1390373e9baa9b4175682dae11eadd63ed5 2026-07-04 official
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22 U.S.C. § 2777 - Fiscal provisions relating to foreign military sales credits

Text

(a) Permissible uses of cash payments under sections 2761, 2762, 2763, and 2769 Cash payments received under sections 2761, 2762, and 2769 of this title and advances received under section 2763 of this title shall be available solely for payments to suppliers (including the military departments) and refunds to purchasers and shall not be available for financing credits and guaranties.

(b) Transfer of funds to miscellaneous receipts of Treasury Amounts received from foreign governments and international organizations as repayments for credits extended pursuant to section 2763 of this title, amounts received from the disposition of instruments evidencing indebtedness under section 2764(b) of this title (excluding such portion of the sales proceeds as may be required at the time of disposition to be obligated as a reserve for payment of claims under guaranties issued pursuant to section 2764(b) of this title, which sums are made available for such obligations), and other collections (including fees and interest) shall be transferred to the miscellaneous receipts of the Treasury.

(c) Credit of funds to reserve under section 2764(c) Notwithstanding the provisions of subsection (b), to the extent that any of the funds constituting the reserve under section 2764(c) of this title are paid out for a claim arising out of a loan guaranteed under section 2764 of this title, amounts received from a foreign government or international organization after the date of such payment, with respect to such claim, shall be credited to such reserve, shall be merged with the funds in such reserve, and shall be available for any purpose for which funds in such reserve are available.

(Pub. L. 90629, ch. 3, § 37, Oct. 22, 1968, 82 Stat. 1326; Pub. L. 93189, § 25(11), Dec. 17, 1973, 87 Stat. 731; Pub. L. 96533, title I, §§ 104(b), 105(e)(1), Dec. 16, 1980, 94 Stat. 3133, 3135.)

Notes

Editorial Notes

Amendments1980—Subsec. (a). Pub. L. 96533, § 105(e)(1), inserted reference to section 2769 of this title. Subsec. (c). Pub. L. 96533, § 104(b), added subsec. (c). 1973—Subsec. (b). Pub. L. 93189 inserted provisions relating to indebtedness under section 2764(b) of this title and exclusions of portions of the sales proceeds required at the time of disposition as a reserve for payment of claims under guaranties issued under section 2764(b) of this title.

Statutory Notes and Related Subsidiaries

Effective DateSection effective July 1, 1968, see section 41 of Pub. L. 90629, set out as a note under section 2751 of this title.