15 U.S.C. § 1524 — Investment and reinvestments of moneys; credit and disbursement of interest
submitted 62 years ago by Pub. L. 88-611 to r/title-15-COMMERCE-AND-TRADE · 85 words · no verdicts yet
At the Commerce Secretary’s request, the Treasury Secretary may invest or reinvest the authorized fund’s money in specified United States-backed securities. The earnings go into the fund and are paid out on the Commerce Secretary’s order.
When the Commerce Secretary asks, the Treasury Secretary may invest and reinvest money in the authorized fund in United States securities or securities whose principal and interest the United States guarantees. Income from those securities and from other property accepted under section 1522 must be credited to the fund and paid out on the Commerce Secretary’s order.
Upon the request of the Secretary of Commerce, the Secretary of the Treasury may invest and reinvest in securities of the United States or in securities guaranteed as to principal and interest by the United States any moneys contained in the fund authorized herein. Income accruing from such securities, and from any other property accepted pursuant to section 1522 of this title, shall be deposited to the credit of the fund authorized herein, and shall be disbursed upon order of the Secretary of Commerce.
Source credit: (Pub. L. 88–611, § 3, Oct. 2, 1964, 78 Stat. 991.)
- 1964Enacted · Pub. L. 88-611 · 78 Stat. 991
A history note hasn’t been published yet. The record shows enactment by Pub. L. 88-611 on 1964-10-02.
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