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10 U.S.C. § 1117 — Investment of assets of Fund

submitted 26 years ago by Pub. L. 106-398 to r/title-10-ARMED-FORCES · 97 words · no verdicts yet

in plain englishAI-generated · not legal advice

This section covers investment of assets of fund. It begins by providing that The Secretary of the Treasury must invest such portion of the Fund as is not in the judgment of the Secretary of Defense required to...

The Secretary of the Treasury must invest such portion of the Fund as is not in the judgment of the Secretary of Defense required to meet current withdrawals. Such investments must be in public debt securities with maturities suitable to the needs of the Fund, as determined by the Secretary of Defense, 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. The income on such investments must be credited to and form a part of the Fund.
the actual law source: uscode.house.gov ↗public domain

The Secretary of the Treasury shall invest such portion of the Fund as is not in the judgment of the Secretary of Defense required to meet current withdrawals. Such investments shall be in public debt securities with maturities suitable to the needs of the Fund, as determined by the Secretary of Defense, 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. The income on such investments shall be credited to and form a part of the Fund.

Source credit: (Added Pub. L. 106–398, § 1 [[div. A], title VII, § 713(a)(1)], Oct. 30, 2000, 114 Stat. 1654, 1654A–184.)

history & why it existsrecord from the source credit
  • 2000Enacted · Pub. L. 106-398 · 114 Stat. 1654, 1654

A history note hasn’t been published yet. The record shows enactment by Pub. L. 106-398 on 2000-10-30.

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