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U.S Code last checked for updates: Dec 12, 2024
All Titles
Title 25
Chapter 46
§ 5309. Use of excess funds...
Subchapter I - INDIAN SELF-DETER...
§ 5309. Use of excess funds...
Subchapter I - INDIAN SELF-DETER...
U.S. Code
Notes
§ 5310.
Investment of advance payments; restrictions
Advance payments made by the Department of the Interior to Indian tribes, tribal organizations, and tribal consortia pursuant to the Indian Self-Determination and Education Assistance Act (
25 U.S.C. 450
et seq.)
1
1
See References in Text note below.
or the Tribally Controlled Schools Act of 1988 (
25 U.S.C. 2501
et seq.) may on and after
December 8, 2004
, be invested by the Indian tribe, tribal organization, or consortium before such funds are expended for the purposes of the grant, compact, or annual funding agreement so long as such funds are—
(1)
invested by the Indian tribe, tribal organization, or consortium only in obligations of the United States, or in obligations or securities that are guaranteed or insured by the United States, or mutual (or other) funds registered with the Securities and Exchange Commission and which only invest in obligations of the United States or securities that are guaranteed or insured by the United States; or
(2)
deposited only into accounts that are insured by an agency or instrumentality of the United States, or are fully collateralized to ensure protection of the funds, even in the event of a bank failure.
(
Pub. L. 108–447, div. E, title I, § 111
,
Dec. 8, 2004
,
118 Stat. 3064
.)
cite as:
25 USC 5310
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