22 USC 6823 - Administration

U.S Code last checked for updates: May 06, 2024

§ 6823.

Administration

(a)

Appointment of an Administrator

(b)

Authority to solicit and accept contributions

(c)

Accountability of funds and criteria for programs

As part of the negotiations described in section 6821(a) of this title, the Secretary of the Treasury shall, consistent with subsection (d)—

(1)

take such actions as are necessary to ensure that the Bank or the Association will have in effect adequate procedures and standards to account for and monitor the use of funds contributed to the Trust Fund, including the cost of administering the Trust Fund; and

(2)

seek agreement on the criteria that should be used to determine the programs and activities that should be assisted by the Trust Fund.

(d)

Selection of projects and recipients

The Board of Trustees should establish—

(1)

criteria for the selection of projects to receive support from the Trust Fund;

(2)

standards and criteria regarding qualifications of recipients of such support;

(3)

such rules and procedures as may be necessary for cost-effective management of the Trust Fund; and

(4)

such rules and procedures as may be necessary to ensure transparency and accountability in the grant-making process.

(e)

Transparency of operations

(Pub. L. 106–264, title I, § 123, Aug. 19, 2000, 114 Stat. 756.)

cite as: 22 USC 6823