45 U.S.C. § 668 — Guarantee fees; amount; deposit

in plain englishAI-generated · not legal advice

This section sets the amount and deposit rules for guarantee fees.

The Secretary shall prescribe a guarantee fee in connection with each loan guaranteed under this chapter which shall be collected from the railroad upon repayment of the loan guaranteed. Such fee shall be in an amount that the Secretary estimates to be necessary to cover the administrative costs of carrying out the provisions of this chapter with respect to such loan. Sums realized from such fees shall be deposited in the Treasury as miscellaneous receipts.

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

The Secretary shall prescribe a guarantee fee in connection with each loan guaranteed under this chapter which shall be collected from the railroad upon repayment of the loan guaranteed. Such fee shall be in an amount that the Secretary estimates to be necessary to cover the administrative costs of carrying out the provisions of this chapter with respect to such loan. Sums realized from such fees shall be deposited in the Treasury as miscellaneous receipts.

Source credit: (Pub. L. 91–663, § 9, Jan. 8, 1971, 84 Stat. 1978.)

history & why it existsrecord from the source credit

1971Enacted · Pub. L. 91-663 · 84 Stat. 1978

A history note hasn’t been published yet. The record shows enactment by Pub. L. 91-663 on 1971-01-08.