2 U.S.C. § 2234 — Administration of Fund
submitted 18 years ago by Pub. L. 110-437 to r/title-2-THE-CONGRESS · 149 words · no verdicts yet
This section sets rules about administration of fund. It applies the requirements, conditions, and exceptions stated in the section.
(a) Disbursements Disbursements from the Fund can be made by the Architect of the Capitol, upon recommendation of the Chief Executive Officer.
(b) Investment authority The Secretary of the Treasury shall invest any portion of the Fund that, as determined by the Architect of the Capitol, upon recommendation of the Chief Executive Officer, is not required to meet current expenses. Each investment is made in an interest-bearing obligation of the United States or an obligation guaranteed both as to principal and interest by the United States that, as determined by the Architect of the Capitol, upon recommendation of the Chief Executive Officer, has a maturity date suitable for the purposes of the Fund. The Secretary of the Treasury shall credit interest earned on the obligations to the Fund.
(c) Audit The Fund is subject to audit by the Comptroller General at the discretion of the Comptroller General.
Disbursements from the Fund may be made by the Architect of the Capitol, upon recommendation of the Chief Executive Officer.
The Secretary of the Treasury shall invest any portion of the Fund that, as determined by the Architect of the Capitol, upon recommendation of the Chief Executive Officer, is not required to meet current expenses. Each investment shall be made in an interest-bearing obligation of the United States or an obligation guaranteed both as to principal and interest by the United States that, as determined by the Architect of the Capitol, upon recommendation of the Chief Executive Officer, has a maturity date suitable for the purposes of the Fund. The Secretary of the Treasury shall credit interest earned on the obligations to the Fund.
The Fund shall be subject to audit by the Comptroller General at the discretion of the Comptroller General.
Source credit: (Pub. L. 110–437, title III, § 304, Oct. 20, 2008, 122 Stat. 4990.)
- 2008Enacted · Pub. L. 110-437 · 122 Stat. 4990
A history note hasn’t been published yet. The record shows enactment by Pub. L. 110-437 on 2008-10-20.
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