80 STAT. ]
PUBLIC LAW 89-538-AUG. 14, 1966
347
Public Law 89-538 AN ACT To amend section 1035 of title 10, United States Code, and other laws, to authorize members of the uniformed services who are on duty outside the United States or its possessions to deposit their savings with a uniformed service, and for other purposes.
August 14, 1966 [H. R. 14875]
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled., That chapter 53 of. uniformed serv. title 10, United States Code, is amended as follows: ^ sawngs de(1) By amending: section 1035 to read as follows: posits. \
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10 USC 1031-
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"§ 1035. Deposits of savings u/
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(a,) Under ]omt regulations prescribed by the Secretaries concerned, a member of the armed force who is on a permanent duty assignment outside the United States or its possessions may deposit during that tour of duty not more than his unallotted current pay and allowances in amounts of $5 or more, with any branch, office, or officer of a uniformed service. Amounts so deposited shall be deposited in the Treasury and kept as a separate fund, and shall be accounted for in the same manner as public funds. " (b) Interest at a rate prescribed by the President, not to exceed 10 per centum a year, will accrue on amounts deposited under this section. However, the maximum amount upon which interest may be paid under this Act to any member is $10,000. Interest under this subsection shall terminate ninety days after the member's return to the United States or its possessions. "(c) Except as provided in joint regulations prescribed by the Secreta,ries concerned, payments of deposits, and interest thereon, may not be made to the member while he is on duty outside the United States or its possessions. " (d) An amount deposited under this section, with interest thereon, is exempt from liability for the member's debts, including any indebtedness to the United States or any instrumentality thereof, and is not subject to forfeiture by sentence of a court-martial." (2) By amending the item in the analysis relating to section 1035 to read as follows: "1035. Deposits of savinss."
SEC. 2. (a) Notwithstanding the first section of this Act, an amount on deposit under section 1035 of title 10, United States Code, on the date of enactment of this Act, shall accrue interest at the rate and under the conditions in effect on the day before the date of enactment of this Act, until the member's current enlistment terminates or earlier, as may be jointly prescribed by the Secretaries concerned. However, a member who is on a permanent duty assignment outside the United States or its possessions on the date of enactment of this Act, or who reports for that duty on or after that date but before the termination of his current enlistment, will be entitled to interest on such deposit, on and after that date, at the rate and under the conditions prescribed pursuant to section 1. Payments of deposits, and interest thereon, may be made to the member's heirs or legal representative. (b) Any amounts deposited between May 4, 1966, and the date of enactment of this Act while a member was assigned to permanent duty within the United States and its possessions, and any amounts deposited between May 4, 1966, and the date of enactment of this Act by a member on permanent duty assignment outside the United States and its possessions which are in excess of his unallotted pay and al-
70A Stat. 8 0.
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