Subject to regulations under section 121 of title 40, the Secretary of the Navy may—
(1) give obsolete material not needed for naval purposes; and
(2) sell other material that may be spared at a price representing its fair value;
(Aug. 10, 1956, ch. 1041, 70A Stat. 465, § 7541; Pub. L. 93–628, § 1, Jan. 3, 1975, 88 Stat. 2147; Pub. L. 96–513, title V, § 513(39), Dec. 12, 1980, 94 Stat. 2934; Pub. L. 107–217, § 3(b)(31), Aug. 21, 2002, 116 Stat. 1297; renumbered § 8761, Pub. L. 115–232, div. A, title VIII, § 807(d)(8), Aug. 13, 2018, 132 Stat. 1836.)
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