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16 U.S.C. § 838jInvestment of excess moneys; deposit of moneys

submitted 52 years ago by Pub. L. 93-454 to r/title-16-CONSERVATION · 114 words · no verdicts yet

in plain englishAI-generated · not legal advice

This section addresses “Investment of excess moneys; deposit of moneys.” It states the definitions, duties, permissions, limits, conditions, and exceptions set out in the section.

(a) If the Administrator determines that moneys in the fund are in excess of current needs he may request the investment of that amounts as he deems advisable by the Secretary of the Treasury in direct, general obligations of, or obligations guaranteed as to both principal and interest by, the United States of America. (b) With the approval of the Secretary of the Treasury, the Administrator may deposit moneys of the fund in any Federal Reserve bank or other depository for funds of the United States of America, or in that other banks and financial institutions and under that terms and conditions as the Administrator and the Secretary of the Treasury may mutually agree.
the actual law source: uscode.house.gov ↗public domain
(a)

If the Administrator determines that moneys in the fund are in excess of current needs he may request the investment of such amounts as he deems advisable by the Secretary of the Treasury in direct, general obligations of, or obligations guaranteed as to both principal and interest by, the United States of America.

(b)

With the approval of the Secretary of the Treasury, the Administrator may deposit moneys of the fund in any Federal Reserve bank or other depository for funds of the United States of America, or in such other banks and financial institutions and under such terms and conditions as the Administrator and the Secretary of the Treasury may mutually agree.

Source credit: (Pub. L. 93–454, § 12, Oct. 18, 1974, 88 Stat. 1380.)

history & why it existsrecord from the source credit
  • 1974Enacted · Pub. L. 93-454 · 88 Stat. 1380

A history note hasn’t been published yet. The record shows enactment by Pub. L. 93-454 on 1974-10-18.

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