§ 161. — Deposit in Treasury of trust funds.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 25USC161]
TITLE 25--INDIANS
CHAPTER 4--PERFORMANCE BY UNITED STATES OF OBLIGATIONS TO INDIANS
SUBCHAPTER III--DEPOSIT, CARE, AND INVESTMENT OF INDIAN MONEYS
Sec. 161. Deposit in Treasury of trust funds
The Secretary of the Interior is authorized to deposit, in the
Treasury of the United States, any and all sums held by him on April 1,
1880, or which may be received by him, as Secretary of the Interior and
trustee of various Indian tribes, on account of the redemption of United
States bonds, or other stocks and securities belonging to the Indian
trust fund, and all sums received on account of sales of Indian trust
lands, and the sales of stocks lately purchased for temporary
investment, whenever he is of the opinion that the best interests of the
Indians will be promoted by such deposits, in lieu of investments; and
the United States shall pay interest semiannually, from the date of
deposit of any and all such sums in the United States Treasury, at the
rate per annum stipulated by treaties or prescribed by law, and such
payments shall be made in the usual manner, as each may become due,
without further appropriation by Congress.
(Apr. 1, 1880, ch. 41, 21 Stat. 70.)
Transfer of Functions
For transfer of functions of other officers, employees, and agencies
of Department of the Interior, with certain exceptions, to Secretary of
the Interior, with power to delegate, see Reorg. Plan No. 3 of 1950,
Secs. 1, 2, eff. May 24, 1950, 15 F.R. 3174, 64 Stat. 1262, set out in
the Appendix to Title 5, Government Organization and Employees.
Appropriations
Section 2 of act June 26, 1934, ch. 756, 48 Stat. 1225, which was
classified to section 725a of former Title 31, Money and Finance,
repealed the permanent appropriation provided for in the last clause of
this section under the title ``Interest on Indian trust funds''
effective July 1, 1935, and provided that such portions of any Acts as
make permanent appropriations to be expended under such account are
amended so as to authorize, in lieu thereof, annual appropriations from
the general fund of the Treasury in identical terms and in such amounts
as now provided by the laws providing such permanent appropriations.
