§ 411. — Interest on moneys from proceeds of sale.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 25USC411]
TITLE 25--INDIANS
CHAPTER 12--LEASE, SALE, OR SURRENDER OF ALLOTTED OR UNALLOTTED LANDS
Sec. 411. Interest on moneys from proceeds of sale
The shares of money due minor Indians as their proportion of the
proceeds from the sale of ceded or tribal Indian lands, whenever such
shares have been withheld from their parents, legal guardians, or
others, and retained in the United States Treasury by direction of the
Secretary of the Interior, shall draw interest at the rate of 3 per
centum per annum, unless otherwise provided for, from the period when
such proceeds have been or shall be distributed per capita among the
members of the tribe of which such minor is a member; and the Secretary
of the Treasury is authorized and directed to allow interest on such
unpaid amounts belonging to said minors as shall be certified by the
Secretary of the Interior as entitled to draw interest under this
section.
(June 21, 1906, ch. 3504, 34 Stat. 327.)
