US Supreme Court Decisions On-Line | US Laws

§ 817c. —  Trust fund.

[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
  January 24, 2002 and December 19, 2002]
[CITE: 2USC817c]

                          TITLE 2--THE CONGRESS
Sec. 817c. Trust fund

(a) Establishment of fund

    There shall be established in the Treasury of the United States a 
trust fund which shall be known as the ``Congressional Recognition for 
Excellence in Arts Education Awards Trust Fund''. The fund shall be 
administered by the Board, and shall consist of amounts donated to the 
Board under section 817(c) of this title and amounts credited to the 
fund under subsection (d) of this section.

(b) Investment

                           (1) In general

        It shall be the duty of the Secretary of the Treasury to invest, 
    at the direction of the Director of the Board, such portion of the 
    fund that is not, in the judgment of the Director of the Board, 
    required to meet the current needs of the fund.

                     (2) Authorized investments

        Such investments shall be in public debt obligations with 
    maturities suitable to the needs of the fund, as determined by the 
    Director of the Board. Investments in public debt obligations shall 
    bear interest at rates determined by the Secretary of the Treasury 
    taking into consideration the current market yield on outstanding 
    marketable obligations of the United States of comparable maturity.

(c) Authority to sell obligations

    Any obligation acquired by the fund may be sold by the Secretary of 
the Treasury at the market price.

(d) Proceeds from certain transactions credited to fund

    The interest on, and the proceeds from the sale or redemption of, 
any obligations held in the fund shall be credited to and form a part of 
the fund.

(Pub. L. 96-114, title II, Sec. 211, as added Pub. L. 106-533, 
Sec. 1(a), Nov. 22, 2000, 114 Stat. 2552.)

                  Section Referred to in Other Sections

    This section is referred to in section 817 of this title.

ChanRobles Legal Resources:

ChanRobles On-Line Bar Review

ChanRobles Internet Bar Review :

ChanRobles MCLE On-line

ChanRobles Lawnet Inc. - ChanRobles MCLE On-line :