Renegotiation Board

Renegotiation Board
The Renegotiation Board was created as an independent establishment in the executive branch by the Renegotiation Act of 1951 (65 Stat. 7; 50 U.S.C.A.App. No. 1211) and was organized on October 8, 1951. The Board's function was the elimination of excessive profits on defense and space contracts and related subcontracts. This federal agency was terminated and its property and records were transferred to General Services Administration in 1979 pursuant to Pub.L. 95-431, Title V, No. 501

Black's law dictionary. . 1990.

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