Each officer of the Regular Coast Guard appointed under section 211 of this title who is serving in the grade of lieutenant (junior grade) and who has failed of selection for promotion to the grade of lieutenant for the second time, shall:

1. (1) be honorably discharged on June 30 of the promotion year in which his second failure of selection occurs; or
2. (2) if he so requests, be honorably discharged at an earlier date without loss of benefits that would accrue if he were discharged on that date under clause (1); or
3. (3) if, on the date specified for his discharge in this section, he is eligible for retirement under any law, be retired on that date.

(Added Pub. L. 88–130, § 1(10)(C), Sept. 24, 1963, 77 Stat. 184; amended Pub. L. 94–546, § 1(21), Oct. 18, 1976, 90 Stat. 2520.)

Amendments

1976—Pub. L. 94–546 substituted “promotion year” for “fiscal year” in cl. (1).

Retired Pay on or Prior to September 24, 1963

Savings provisions in section 5(g) of Pub. L. 88–130 providing that Pub. L. 88–130 does not affect the retired pay of anyone retired on or prior to Sept. 24, 1963, are set out as a note under section 211 of this title.

Effectiveness of Election, Change, or Revocation of Election of Annuity

Savings provisions in section 5(h) of Pub. L. 88–130 providing that notwithstanding section 1431 of Title 10, Armed Forces, an election, change or revocation thereof affecting an annuity, by an officer retired under this section, is effective if made prior to the first day of the third month following September 1963, are set out as a note under section 211 of this title.