25 U.S.C. § 5114 — Interest charges covered into revolving fund

submitted 85 years ago by ch. 259 to r/title-25-INDIANS · 99 words · no verdicts yet

in plain englishAI-generated · not legal advice

This section directs that interest and other loan charges be credited to the revolving fund. The money may be used for specified loans to Indian-chartered corporations, individual Indians, and Indian associations or corporate groups in Oklahoma.

Interest or other charges heretofore or after this collected on loans must be credited to the revolving fund created by section 5113 of this title and must be available for the establishment of a revolving fund for the purpose of making and administering loans to Indian-chartered corporations under the Act of June 18, 1934 ( 48 Stat. 986 ) [ 25 U.S.C. 5101 et seq.], and of making and administering loans to individual Indians and to associations or corporate groups of Indians of Oklahoma under the Act of June 26, 1936 ( 49 Stat. 1967 ).

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

Interest or other charges heretofore or hereafter collected on loans shall be credited to the revolving fund created by section 5113 of this title and shall be available for the establishment of a revolving fund for the purpose of making and administering loans to Indian-chartered corporations in accordance with the Act of June 18, 1934 (48 Stat. 986) [25 U.S.C. 5101 et seq.], and of making and administering loans to individual Indians and to associations or corporate groups of Indians of Oklahoma in accordance with the Act of June 26, 1936 (49 Stat. 1967).

Source credit: (June 28, 1941, ch. 259, § 1, 55 Stat. 316.)

history & why it existsrecord from the source credit

1941Enacted · Act of June 28, 1941, ch. 259 · 55 Stat. 316

A history note hasn’t been published yet. The record shows enactment by ch. 259 on 1941-06-28.

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