PAYMENT OF CLAIM

SEC. 1247. PAYMENT OF CLAIM (a) Payment of Claim.—The Secretary of the Treasury shall pay, out of any money in the Treasury not otherwise appropriated, the sum of $809,609, to the Merchants National Bank of Mobile, Alabama, for compensation for losses sustained during the period beginning on January 1, 1976, and ending on December 31, 1978, concerning the issuance and cancellation of a Government loan guarantee and the subsequent issuance of a second loan guarantee on reduced terms, resulting from actions of the Defense Logistics 101 STAT. 1166 Agency of the Department of Defense and its fiscal agent, the Federal Reserve Bank of Atlanta. (b) Full Settlement of Claim.—The payment made pursuant to subsection (a) shall constitute full settlement of the legal and equitable claims by the Merchants National Bank of Mobile, Alabama, against the United States, covered by that subsection. (c) Limitation on Attorneys’ Fees.—No part of the amount appropriated in this section in excess of 10 percent thereof shall be paid or delivered to or received by any agent or attorney on account of services rendered in connection with such claim, and the same shall be unlawful, any contract to the contrary notwithstanding. Violation of the provisions of this subsection is a misdemeanor punishable by a fine not to exceed $1,000.