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25 U.S.C. § 161a — Tribal funds in trust in Treasury Department; investment by Secretary of the Treasury; maturities; interest; funds held in trust for individual Indians

submitted 97 years ago by ch. 178 to r/title-25-INDIANS · 196 words · no verdicts yet

in plain englishAI-generated · not legal advice

Trust money the U.S. holds for Indian tribes must be invested in public debt securities. The Secretary of the Treasury invests it at the request of the Secretary of the Interior. Maturities match the fund's needs, and interest rates match current market rates. The same rule applies to trust money held for individual Indians.

(a) Tribal trust funds. All funds the United States holds in trust and carries in principal accounts on the Treasury's books, to the credit of Indian tribes, must be invested by the Secretary of the Treasury, at the request of the Secretary of the Interior. The money goes into public debt securities. The Secretary of the Interior determines the maturities suitable to the needs of each fund. The Secretary of the Treasury sets the interest rates, taking into consideration current market yields on comparable outstanding marketable U.S. government obligations. (b) Individual Indian trust funds. The same process applies to funds the United States holds in trust, and carries in principal accounts on the Treasury's books, to the credit of individual Indians. The Secretary of the Treasury invests these funds too, at the Secretary of the Interior's request, in public debt securities with suitable maturities, at interest rates set the same way.
the actual law source: uscode.house.gov ↗public domain
(a)

All funds held in trust by the United States and carried in principal accounts on the books of the United States Treasury to the credit of Indian tribes shall be invested by the Secretary of the Treasury, at the request of the Secretary of the Interior, in public debt securities with maturities suitable to the needs of the fund involved, as determined by the Secretary of the Interior, and bearing interest at rates determined by the Secretary of the Treasury, taking into consideration current market yields on outstanding marketable obligations of the United States of comparable maturities.

(b)

All funds held in trust by the United States and carried in principal accounts on the books of the United States Treasury to the credit of individual Indians shall be invested by the Secretary of the Treasury, at the request of the Secretary of the Interior, in public debt securities with maturities suitable to the needs of the fund involved, as determined by the Secretary of the Interior, and bearing interest at rates determined by the Secretary of the Treasury, taking into consideration current market yields on outstanding marketable obligations of the United States of comparable securities.

Source credit: (Feb. 12, 1929, ch. 178, § 1, 45 Stat. 1164; June 13, 1930, ch. 483, 46 Stat. 584; Pub. L. 98–451, Oct. 4, 1984, 98 Stat. 1729; Pub. L. 103–412, title I, § 103(a), Oct. 25, 1994, 108 Stat. 4241.)

history & why it existsrecord from the source credit
  • 1929Enacted · Act of Feb. 12, 1929, ch. 178 · 45 Stat. 1164
  • 1930Amended · Act of June 13, 1930, ch. 483 · 46 Stat. 584
  • 1984Amended · Pub. L. 98-451 · 98 Stat. 1729
  • 1994Amended · Pub. L. 103-412 · 108 Stat. 4241

A history note hasn’t been published yet. The record shows enactment by ch. 178 on 1929-02-12.

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