section 3801 of this titleAdvance payments made under may be made only if the contractor gives adequate security and after a determination by the head of the agency that to do so would be in the public interest. Such security may be in the form of a lien in favor of the United States on the property contracted for, on the balance in an account in which such payments are deposited, and on such of the property acquired for performance of the contract as the parties may agree. This lien is paramount to any other liens and is effective immediately upon the first advancement of funds without filing, notice, or any other action by the United States.
Pub. L. 116–283, div. A, title XVIII, § 1834(a)134 Stat. 4234(Added and amended , (d), , , 4236.)
Editorial Notes
Codification
section 2307 of this titlePub. L. 116–283, § 1834(d)act Aug. 10, 1956, ch. 104170A Stat. 131Pub. L. 85–800, § 972 Stat. 967Pub. L. 103–355, title II, § 2001(a)(4)108 Stat. 3301The text of subsec. (d) of , which was transferred to this section and amended by , was based on , ; , , ; , (7), (d), , , 3302.
Amendments
Pub. L. 116–283, § 1834(d)section 2307 of this titlesection 3801 of this title2021—, transferred subsec. (d) of to this section, struck out subsec. (d) designation and heading “Security for Advance Payments” at beginning, and substituted “” for “subsection (a)”.
Statutory Notes and Related Subsidiaries
Effective Date
Pub. L. 116–283section 1801(d) of Pub. L. 116–283section 3001 of this titleSection and amendment by effective , with additional provisions for delayed implementation and applicability of existing law, see , set out as an Effective Date of 2021 Amendment note preceding .