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25 U.S.C. § 5113Revolving fund; appropriation for loans

submitted 92 years ago by ch. 576 to r/title-25-INDIANS · 101 words · no verdicts yet

in plain englishAI-generated · not legal advice

A translation hasn’t been published for this section yet. The official text below is complete and authoritative.

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

There is authorized to be appropriated, out of any funds in the Treasury not otherwise appropriated, the sum of $20,000,000 to be established as a revolving fund from which the Secretary of the Interior, under such rules and regulations as he may prescribe, may make loans to Indian chartered corporations for the purpose of promoting the economic development of such tribes and of their members, and may defray the expenses of administering such loans. Repayment of amounts loaned under this authorization shall be credited to the revolving fund and shall be available for the purposes for which the fund is established.

Source credit: (June 18, 1934, ch. 576, § 10, 48 Stat. 986; Pub. L. 86–533, § 1(16), June 29, 1960, 74 Stat. 248; Pub. L. 87–250, Sept. 15, 1961, 75 Stat. 520.)

history & why it existsrecord from the source credit
  • 1934Enacted · Act of June 18, 1934, ch. 576 · 48 Stat. 986
  • 1960Amended · Pub. L. 86-533 · 74 Stat. 248
  • 1961Amended · Pub. L. 87-250 · 75 Stat. 520

A history note hasn’t been published yet. The record shows enactment by ch. 576 on 1934-06-18.

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