Pub. L. 83-773, tit. V, sec. 505

Sec. 505. (a) A person credited with service under section 201 of this Act shall be appointed as a Reserve officer in the grade indicated as follows: (1) A person with less than three years—second lieutenant. (2) A person with at least three, but less than seven years—first lieutenant. (3) A person with at least seven, but less than fourteen years—captain. (4) A person with at least fourteen, but less than twenty-one years—major. (5) A person with at least twenty-one years—lieutenant colonel, except that a person with at least twenty-three years may, under regulations prescribed by the Secretary, be appointed in the grade of colonel. (b) In determining seniority in grade and eligibility for promotion, a person appointed as a Reserve officer in a grade below colonel under this section shall be credited with the number of years of promotion service in the grade in which appointed equal to the difference between the number of years of service credited under section 201 of this Act and the minimum number of years of service required under subsection (a) of this section for the grade in which he was appointed.