§ 470. — Revolving fund; appropriation for loans.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 25USC470]
TITLE 25--INDIANS
CHAPTER 14--MISCELLANEOUS
SUBCHAPTER V--PROTECTION OF INDIANS AND CONSERVATION OF RESOURCES
Sec. 470. Revolving fund; appropriation for loans
There is authorized to be appropriated, out of any funds in the
Treasury not otherwise appropriated, the sum of $20,000,000 to be
established as a revolving fund from which the Secretary of the
Interior, under such rules and regulations as he may prescribe, may make
loans to Indian chartered corporations for the purpose of promoting the
economic development of such tribes and of their members, and may defray
the expenses of administering such loans. Repayment of amounts loaned
under this authorization shall be credited to the revolving fund and
shall be available for the purposes for which the fund is established.
(June 18, 1934, ch. 576, Sec. 10, 48 Stat. 986; Pub. L. 86-533,
Sec. 1(16), June 29, 1960, 74 Stat. 248; Pub. L. 87-250, Sept. 15, 1961,
75 Stat. 520.)
Amendments
1961--Pub. L. 87-250 substituted ``$20,000,000'' for
``$10,000,000''.
1960--Pub. L. 86-533 repealed provisions which required a report to
be made annually to the Congress of transactions under the
authorization.
Revolving Fund: Interest-Free Loans to Klamath Indians; Refinancing
Lending Agency Loans
Use of Revolving Loan Fund for Indians to assist Klamath Indians
during period for terminating Federal supervision, see note set out
under section 564 of this title. Funds to be administered as a single
Indian Revolving Loan Fund after Apr. 12, 1974, see section 1461 of this
title.
Section Referred to in Other Sections
This section is referred to in sections 470a, 473, 473a, 671, 674,
676 of this title.
