§ 1776h. — Escrow 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: 25USC1776h]
TITLE 25--INDIANS
CHAPTER 19--INDIAN LAND CLAIMS SETTLEMENTS
SUBCHAPTER X--CROW LAND CLAIMS SETTLEMENT
Sec. 1776h. Escrow funds
(a) In general
As soon as practicable after November 2, 1994, the Secretary shall
make distributions from the 107th meridian escrow fund as follows:
(1) One-half of the fund shall be distributed to the Crow Tribe.
(2) One-half of the fund shall be distributed to the Northern
Cheyenne Tribe.
(3) The receipt and acceptance by a tribe of funds distributed
under this section shall be deemed to be--
(A) a disclaimer, relinquishment and waiver by such tribe of
all right, claim or interest in the 107th meridian escrow fund;
and
(B) a release by such tribe of all persons and entities,
including the United States, from any liability arising from, or
related to, the establishment and administration of the 107th
meridian escrow fund.
(b) Establishment of Suspension Accounts
As soon as practicable after the Settlement Agreement is executed
and approved pursuant to this subchapter, the Secretary of the Treasury
shall establish in the Treasury of the United States two interest
bearing accounts to be known respectively as the ``Crow Tribal
Suspension Account'' and the ``Northern Cheyenne Tribal Suspension
Account'' (collectively referred to in this section as the ``Suspension
Accounts''), consisting of--
(1) such amounts as are transferred to the Suspension Accounts
under subsection (c) of this section; and
(2) any interest earned on investments of amounts in the
Suspension Accounts under subsection (e) of this section.
(c) Contributions to Suspension Accounts
(1) In general
Beginning with fiscal year 1995, and ending on the date on which
the total amount deposited pursuant to this subsection into the
Suspension Accounts is equal to $200,000 for each such account (as
specified in subsection (d) of this section), the Secretary and the
Secretary of the Treasury shall make necessary and proper
arrangements for the monthly payment, transfer, or deposit (or any
combination thereof) into each of the Suspension Accounts of an
amount equal to one-half of the royalties received and retained by
the United States for the immediately preceding month, as determined
in accordance with section 1776d(b)(1) of this title, by the date
specified under section 1776d(b)(3) of this title.
(2) Subsequent deposits
At such time as the amount deposited pursuant to this subsection
into the Suspension Accounts is equal to $200,000 for each such
account (as specified in subsection (d) of this section), in
accordance with section 1776d(b)(1) of this title, the Secretary and
the Secretary of the Treasury shall thereafter deposit any remaining
amounts determined under section 1776d(b)(1) of this title in the
Crow Tribal Trust Fund established under section 1776d(a) of this
title.
(d) Limitation
The Secretary and the Secretary of the Treasury shall not transfer
more than a total amount equal to $200,000 to each of the Suspension
Accounts from the amounts determined under section 1776d(b)(1) of this
title.
(e) Investment
All sums deposited in, accruing to and remaining in the Suspension
Accounts shall be invested by the Secretary and the Secretary of the
Treasury in interest bearing deposits and securities in accordance with
the Act of June 24, 1938 (52 Stat. 1037, chapter 648; 25 U.S.C. 162a).
(f) Withdrawals and termination
(1) In general
(A) Beginning on the date that is 5 years after November 2,
1994, the Crow Tribe and the Northern Cheyenne Tribe may each submit
a duly authorized request to the Secretary for the withdrawal of all
of the funds from the Suspension Account of the tribe established
under subsection (b) of this section.
(B) Not later than 60 days after receiving a request for the
distribution of funds from a Suspension Account made by a tribe
under subparagraph (A)--
(i) the Secretary shall, in cooperation with the Secretary
of the Treasury, withdraw and distribute such funds in
accordance with such request; and
(ii) the Secretary of the Treasury shall terminate the
Suspension Account.
(2) Other means of termination
With respect to a Suspension Account established under
subsection (b) of this section that is not terminated pursuant to
paragraph (1), at such time as the corpus and the accrued interest
of the Suspension Account of the Crow Tribe or the Northern Cheyenne
Tribe is approximately equal to the amount specified in paragraph
(1) or (2) of subsection (a) of this section, the Secretary of the
Treasury shall terminate the Suspension Account and the Secretary of
the Interior shall distribute the funds from the Suspension Account
to the tribe.
(Pub. L. 103-444, Sec. 10, Nov. 2, 1994, 108 Stat. 4641; Pub. L. 104-
109, Sec. 9(c), Feb. 12, 1996, 110 Stat. 765.)
References in Text
Act of June 24, 1938, referred to in subsec. (e), is act June 24,
1938, ch. 648, 52 Stat. 1037, which enacted section 162a of this title,
repealed section 162 of this title, and enacted provisions set out as a
note under section 162a of this title. For complete classification of
this Act to the Code, see Tables.
Amendments
1996--Subsec. (b). Pub. L. 104-109 substituted ``referred to in this
section'' for ``referred to in this subsection''.
Section Referred to in Other Sections
This section is referred to in section 1776d of this title.
