48 USC 2150 – No full faith and credit of the United States
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(a) In general
The full faith and credit of the United States is not pledged for the payment of any principal of or interest on any bond, note, or other obligation issued by a covered territory or covered territorial instrumentality. The United States is not responsible or liable for the payment of any principal of or interest on any bond, note, or other obligation issued by a covered territory or covered territorial instrumentality.
(b) Subject to appropriations
Terms Used In 48 USC 2150
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
Any claim to which the United States is determined to be liable under this chapter shall be subject to appropriations.
(c) Funding
No Federal funds shall be authorized by this chapter for the payment of any liability of the territory or territorial instrumentality.