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15 U.S.C. § 694c — Revolving fund for surety bond guarantees

submitted 52 years ago by Pub. L. 85-699 to r/title-15-COMMERCE-AND-TRADE · 109 words · no verdicts yet

in plain englishAI-generated · not legal advice

The Treasury has a revolving fund for surety-bond guarantees. It receives money and assets from the program and pays its nonadministrative expenses and payments.

(a) A separate Treasury guarantee fund is available to the Administrator without fiscal-year limits as a revolving fund for this part. All money, property, and assets received from the Administrator’s operations under this part must be deposited in it. The fund pays all program expenses and payments other than administrative expenses. (b) Appropriations for this part’s programs are available without fiscal-year limits.
the actual law source: uscode.house.gov ↗public domain
(a)

There is created within the Treasury a separate fund for guarantees which shall be available to the Administrator without fiscal year limitation as a revolving fund for the purposes of this part. All amounts received by the Administrator, including any moneys, property, or assets derived by him from his operations in connection with this part, shall be deposited in the fund. All expenses and payments, excluding administrative expenses, pursuant to operations of the Administrator under this part shall be paid from the fund.

(b)

Such sums as may be appropriated to the Fund to carry out the programs authorized by this part shall be without fiscal year limitation.

Source credit: (Pub. L. 85–699, title IV, § 412, as added Pub. L. 93–386, § 6(a)(4), Aug. 23, 1974, 88 Stat. 747; amended Pub. L. 94–305, title I, § 113, June 4, 1976, 90 Stat. 667; Pub. L. 95–14, § 4, Mar. 24, 1977, 91 Stat. 25; Pub. L. 95–89, title I, § 105, Aug. 4, 1977, 91 Stat. 556; Pub. L. 96–302, title I, § 111, July 2, 1980, 94 Stat. 837; Pub. L. 100–590, title II, § 208, Nov. 3, 1988, 102 Stat. 3009.)

history & why it existsrecord from the source credit
  • 1974Enacted · Pub. L. 85-699 · 88 Stat. 747
  • 1976Amended · Pub. L. 94-305 · 90 Stat. 667
  • 1977Amended · Pub. L. 95-14 · 91 Stat. 25
  • 1977Amended · Pub. L. 95-89 · 91 Stat. 556
  • 1980Amended · Pub. L. 96-302 · 94 Stat. 837
  • 1988Amended · Pub. L. 100-590 · 102 Stat. 3009

A history note hasn’t been published yet. The record shows enactment by Pub. L. 85-699 on 1974-08-23.

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