{"identifier":"/us/usc/t46/s53308","title":46,"num":"\u00a7\u202f53308.","heading":"Order and proportions of deposits and withdrawals","text":"\u00a7\u202f53308.\nOrder and proportions of deposits and withdrawals\nIn this chapter\u2014\n(1) if the net proceeds of a sale or the net indemnity for a loss is deposited in more than one deposit, the amount consisting of the gain shall be deemed to be deposited first;\n(2) amounts expended, obligated, or otherwise withdrawn shall be applied against the amounts deposited in the fund in the order of deposit; and\n(3) if a deposit consists in part of a gain not recognized under\nsection 53306 of this title","url":"https://projectusc.org/usc/t46/s53308.html","content":[{"t":"sec","id":"/us/usc/t46/s53308","children":[{"t":"num","text":"\u00a7\u202f53308."},{"t":"heading","text":"Order and proportions of deposits and withdrawals","tail":"\n"},{"t":"chapeau","text":"In this chapter\u2014"},{"t":"para","id":"/us/usc/t46/s53308/1","children":[{"t":"num","text":"(1)"},{"t":"content","text":" if the net proceeds of a sale or the net indemnity for a loss is deposited in more than one deposit, the amount consisting of the gain shall be deemed to be deposited first;","tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t46/s53308/2","children":[{"t":"num","text":"(2)"},{"t":"content","text":" amounts expended, obligated, or otherwise withdrawn shall be applied against the amounts deposited in the fund in the order of deposit; and","tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t46/s53308/3","children":[{"t":"num","text":"(3)"},{"t":"content","text":" if a deposit consists in part of a gain not recognized under ","children":[{"t":"ref","text":"section 53306 of this title","href":"/us/usc/t46/s53306","tail":", any expenditure, obligation, or withdrawal applied against that deposit shall be deemed to be a gain in the proportion that the part of the deposit consisting of a gain bears to the total amount of the deposit."}],"tail":"\n"}],"tail":"\n"},{"t":"text","text":"\n"},{"t":"text","text":"\n"}]}]}