22 U.S.C. § 276dd — Income from property covered into Treasury; disbursement and investment

submitted 81 years ago by ch. 228 to r/title-22-FOREIGN-RELATIONS-AND-INTERCOURSE · 64 words · no verdicts yet

in plain englishAI-generated · not legal advice

Income the board collects from fund property goes into the U.S. Treasury. It's credited to the Kermit Roosevelt trust fund set up under section 276bb. The board can still invest, reinvest, and spend this income for the fund's purpose.

Income from any property the board holds or manages, as it is collected, must be deposited in the U.S. Treasury, credited to the trust fund established under section 276bb — the Kermit Roosevelt fund. This income stays subject to investment, reinvestment, and disbursement by the board, for the uses and purposes set out in this subchapter.

the actual law source: uscode.house.gov ↗public domain

The income from any property held or administered by the board, as and when collected, shall be deposited in the Treasury of the United States to the credit of the trust fund established pursuant to section 276bb of this title, and it shall be and remain subject to investment, reinvestment, and disbursement by the board for the uses and purposes set forth herein.

Source credit: (July 2, 1945, ch. 228, § 4, 59 Stat. 317.)

history & why it existsrecord from the source credit

1945Enacted · Act of July 2, 1945, ch. 228 · 59 Stat. 317

A history note hasn’t been published yet. The record shows enactment by ch. 228 on 1945-07-02.

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