Pub. L. 82-476, pt. VII, sec. 706

Sec. 706. Under such regulations as the appropriate Secretary may prescribe, and with the consent of the Governor or other appropriate authority of the State, Territory, or District of Columbia concerned, a member of the National Guard of the United States or of the Air National Guard of the United States may be transferred in grade at any time to the Army Reserve or the Air Force Reserve, and such transfer shall terminate his federally recognized National Guard or Air National Guard status. Upon the transfer of any person whose service has been honorable, from the National Guard of the United States or from the Air National Guard of the United States to the Army Reserve or to the Air Force Reserve, he shall be eligible for promotion to the highest permanent grade previously held in the Army or any component thereof or in the Air Force or any component thereof.