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2026-07-06 10:51:44 -04:00

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LegalText 46 U.S.C. § 53705 Pledge of United States Government us united_states_code code_section 46 SHIPPING 537 LOANS AND GUARANTEES 53705 46 U.S.C. § 53705 current 119-100 2026-06-26 official https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc46@119-100.zip /us/usc/t46/s53705 data/legal/raw/us/code/title-46/usc46.xml b82835eab1d7598653789291f93661a2857318055b69099470f0b2c36020192b eb1331aa3c08ed87231a3606d86b30d1b5942cdf8542f6a3df8ac1d66e86057f a273dbe615db23639bc39bcb98a887d50041a1f8316653b87d1c24715e4895e8 2026-07-04 official
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46 U.S.C. § 53705 - Pledge of United States Government

Text

(a) Full Faith and Credit.— The full faith and credit of the United States Government is pledged to the payment of a guarantee made under this chapter, for both principal and interest, including interest (as may be provided for in the guarantee) accruing between the date of default under a guaranteed obligation and the date of payment in full of the guarantee.

(b) Incontestability.— A guarantee or commitment to guarantee made under this chapter is conclusive evidence of the eligibility of the obligation for the guarantee. The validity of a guarantee or commitment to guarantee made under this chapter is incontestable.

(Pub. L. 109304, § 8(c), Oct. 6, 2006, 120 Stat. 1606; Pub. L. 109163, div. C, title XXXV, § 3507(a)(1)(C), Jan. 6, 2006, 119 Stat. 3555; Pub. L. 110181, div. C, title XXXV, § 3522(b), Jan. 28, 2008, 122 Stat. 598.)

Notes

Historical and Revision Notes RevisedSectionSource (U.S. Code)Source (Statutes at Large) 53705(a)46 App.:1273(d).June 29, 1936, ch. 858, title XI, § 1103(d), (e) (1st sentence), as added June 23, 1938, ch. 600, § 46, 52 Stat. 969; Aug. 15, 1953, ch. 513, § 1, 67 Stat. 626; Sept. 3, 1954, ch. 1265, § 3, 68 Stat. 1268; June 25, 1956, ch. 438, 70 Stat. 332; Aug. 7, 1956, ch. 1026, § 1(a), (c), (d), 70 Stat. 1087; Pub. L. 91469, § 30, Oct. 21, 1970, 84 Stat. 1035; restated Pub. L. 92507, § 3, Oct. 19, 1972, 86 Stat. 910; Pub. L. 9731, § 12(136), Aug. 6, 1981, 95 Stat. 166; Pub. L. 98595, § 1(1), Oct. 30, 1984, 98 Stat. 3130. 53705(b)46 App.:1273(e) (1st sentence).

Editorial Notes

Amendments2008—Pub. L. 110181 repealed Pub. L. 109163, § 3507(a)(1)(C). See 2006 Amendment note below. 2006—Pub. L. 109163, § 3507(a)(1)(C), which directed the amendment of section 1273(e) of the former Appendix to this title from which this section was derived in part by striking “Secretary” each place it appears and inserting “Secretary or Administrator”, was repealed by Pub. L. 110181. See Historical and Revision notes above.