Pub. L. 87-554, tit. VI, sec. 607

Sec. 607. Subsections (a) and (b) of section 2677 of title 10, United States Code, are amended to read as follows: (a) The Secretary of a military department may acquire an option on a parcel of real property before or after its acquisition is authorized by law, if he considers it suitable and likely to be needed for a military project of his department. (b) As consideration for an option acquired under subsection (a), the Secretary may pay, from funds available to his department for real property activities, an amount that is not more than 5 per centum of the appraised fair market value of the property. However, such amount must be credited to the purchase price of the property if the acquisition is completed.