25 U.S.C. § 4012 — Authority for payment of claims for interest owed
submitted 32 years ago by Pub. L. 103-412 to r/title-25-INDIANS · 97 words · no verdicts yet
This section requires the Secretary to pay certain claims by individual Indians for interest on older deposits or investments. The claim must be identified through account reconciliation or supported by the individual and verified under Department policy.
The Secretary* must pay an individual Indian in full satisfaction of a claim for interest on amounts deposited or invested for that individual before October 25, 1994, retroactive to when the Secretary began regularly investing individual Indian money. The claim must be identified (1) through reconciliation of individual Indian money accounts, or (2) by the individual and presented with supporting documents, and the Secretary must verify it under the Department’s policy for accountholder losses.
The Secretary* shall make payments to an individual Indian in full satisfaction of any claim of such individual for interest on amounts deposited or invested on behalf of such individual before October 25, 1994, retroactive to the date that the Secretary began investing individual Indian monies on a regular basis, to the extent that the claim is identified—
by a reconciliation process of individual Indian money accounts, or
by the individual and presented to the Secretary with supporting documentation, and is verified by the Secretary pursuant to the Department’s policy for addressing accountholder losses.
Source credit: (Pub. L. 103–412, title I, § 104, Oct. 25, 1994, 108 Stat. 4241.)
- 1994Enacted · Pub. L. 103-412 · 108 Stat. 4241
A history note hasn’t been published yet. The record shows enactment by Pub. L. 103-412 on 1994-10-25.
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