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25 U.S.C. § 151 — Deposits in bank by disbursing agents

submitted 118 years ago by ch. 153 to r/title-25-INDIANS · 87 words · no verdicts yet

in plain englishAI-generated · not legal advice

This law lets Indian Service disbursing agents deposit Indian money in a national bank they choose. The bank must first give the agent an approved bond to protect the deposit. The Secretary of the Interior must approve that bond.

This law covers people who handle and pay out Indian money — such as a United States Indian agent, a superintendent, or another disbursing agent of the Indian Service. Any of them may deposit Indian money, whether it belongs to an individual or a tribe, into a national bank of their choosing. But before that agent can deposit the money, the bank must first give the agent a bond, backed by approved security. That bond must be large enough to properly protect the money that will be deposited. And the Secretary of the Interior must approve the bond.
the actual law source: uscode.house.gov ↗public domain

Any United States Indian agent, superintendent, or other disbursing agent of the Indian Service may deposit Indian moneys, individual or tribal, coming into his hands as custodian, in such national bank or banks as he may select: Provided, That the bank or banks so selected by him shall first execute to said disbursing agent a bond, with approved surety, in such an amount as will properly safeguard the funds to be deposited. Such bond shall be subject to the approval of the Secretary of the Interior.

Source credit: (Apr. 30, 1908, ch. 153, 35 Stat. 73; June 25, 1910, ch. 431, § 1, 36 Stat. 855; Mar. 3, 1928, ch. 122, 45 Stat. 161; Apr. 30, 1934, ch. 169, 48 Stat. 648.)

history & why it existsrecord from the source credit
  • 1908Enacted · Act of Apr. 30, 1908, ch. 153 · 35 Stat. 73
  • 1910Amended · Act of June 25, 1910, ch. 431 · 36 Stat. 855
  • 1928Amended · Act of Mar. 3, 1928, ch. 122 · 45 Stat. 161
  • 1934Amended · Act of Apr. 30, 1934, ch. 169 · 48 Stat. 648

A history note hasn’t been published yet. The record shows enactment by ch. 153 on 1908-04-30.

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