38 U.S.C. § 7805 — Revolving fund

submitted 68 years ago by Pub. L. 85-857 to r/title-38-VETERANS-BENEFITS · 55 words · no verdicts yet

in plain englishAI-generated · not legal advice

The Service's revolving fund sits in a checking account at the U.S. Treasury. The Secretary can also put money for individual canteens' operating accounts into checking or interest-bearing accounts at other banks the Secretary picks.

The revolving fund itself must be kept in a checking account with the Treasury of the United States. But the Secretary may decide that some of that money is needed to run the operating accounts of the various canteens. That portion can instead be placed in checking accounts, or in interest-bearing accounts, at other banks or depositories that the Secretary chooses.

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

The revolving fund shall be deposited in a checking account with the Treasury of the United States. Such amounts thereof as the Secretary may determine to be necessary to establish and maintain operating accounts for the various canteens may be deposited in checking accounts or other interest-bearing accounts in other depositaries selected by the Secretary.

Source credit: (Pub. L. 85–857, Sept. 2, 1958, 72 Stat. 1250, § 4205; Pub. L. 100–322, title IV, § 414(a)(1), May 20, 1988, 102 Stat. 549; renumbered § 7805 and amended Pub. L. 102–40, title IV, § 402(a), (b)(1), May 7, 1991, 105 Stat. 238; Pub. L. 102–83, § 4(b)(1), (2)(E), Aug. 6, 1991, 105 Stat. 404, 405.)

history & why it existsrecord from the source credit

1958Enacted · Pub. L. 85-857 · 72 Stat. 1250
1988Amended · Pub. L. 100-322 · 102 Stat. 549
1991Amended · Pub. L. 102-40 · 105 Stat. 238
1991Amended · Pub. L. 102-83 · 105 Stat. 404, 405

A history note hasn’t been published yet. The record shows enactment by Pub. L. 85-857 on 1958-09-02.

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