§ 161a. — Tribal funds in trust in Treasury Department; investment by Secretary of the Treasury; maturities; interest; funds held in trust for individual Indians.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 25USC161a]
TITLE 25--INDIANS
CHAPTER 4--PERFORMANCE BY UNITED STATES OF OBLIGATIONS TO INDIANS
SUBCHAPTER III--DEPOSIT, CARE, AND INVESTMENT OF INDIAN MONEYS
Sec. 161a. Tribal funds in trust in Treasury Department;
investment by Secretary of the Treasury; maturities; interest;
funds held in trust for individual Indians
(a) All funds held in trust by the United States and carried in
principal accounts on the books of the United States Treasury to the
credit of Indian tribes shall be invested by the Secretary of the
Treasury, at the request of the Secretary of the Interior, in public
debt securities with maturities suitable to the needs of the fund
involved, as determined by the Secretary of the Interior, and bearing
interest at rates determined by the Secretary of the Treasury, taking
into consideration current market yields on outstanding marketable
obligations of the United States of comparable maturities.
(b) All funds held in trust by the United States and carried in
principal accounts on the books of the United States Treasury to the
credit of individual Indians shall be invested by the Secretary of the
Treasury, at the request of the Secretary of the Interior, in public
debt securities with maturities suitable to the needs of the fund
involved, as determined by the Secretary of the Interior, and bearing
interest at rates determined by the Secretary of the Treasury, taking
into consideration current market yields on outstanding marketable
obligations of the United States of comparable securities.
(Feb. 12, 1929, ch. 178, Sec. 1, 45 Stat. 1164; June 13, 1930, ch. 483,
46 Stat. 584; Pub. L. 98-451, Oct. 4, 1984, 98 Stat. 1729; Pub. L. 103-
412, title I, Sec. 103(a), Oct. 25, 1994, 108 Stat. 4241.)
Amendments
1994--Pub. L. 103-412 designated existing provisions as subsec. (a)
and added subsec. (b).
1984--Pub. L. 98-451 amended section generally, substituting
provisions directing that all funds held in trust by the United States
and carried in principal accounts on the books of the United States
Treasury to the credit of Indian tribes be invested by the Secretary of
the Treasury, at the request of the Secretary of the Interior, in public
debt securities with maturities suitable to the needs of the fund
involved, as determined by the Secretary of the Interior, and bearing
interest at rates determined by the Secretary of the Treasury, taking
into consideration current market yields on outstanding marketable
obligations of the United States of comparable maturities for provisions
which required that all funds with account balances exceeding $500 held
in trust by the United States and carried in principal accounts on the
books of the Treasury Department to the credit of Indian tribes, upon
which interest was not otherwise authorized by law, bear simple interest
at the rate of 4 per centum per annum.
1930--Act June 13, 1930, amended section generally.
Effective Date of 1994 Amendment
Section 103(d) of Pub. L. 103-412 provided that: ``The amendment
made by subsection (a) [amending this section] shall apply to interest
earned on amounts deposited or invested on or after the date of the
enactment of this Act [Oct. 25, 1994].''
Transfer of Functions
For transfer of functions of other officers, employees, and agencies
of Department of the Treasury, with certain exceptions, to Secretary of
the Treasury, with power to delegate, see Reorg. Plan No. 26 of 1950,
Secs. 1, 2, eff. July 31, 1950, 15 F.R. 4935, 64 Stat. 1280, set out in
the Appendix to Title 5, Government Organization and Employees.
Section Referred to in Other Sections
This section is referred to in sections 161d, 672, 1776d of this
title.
