§ 156. — Deposit of funds from sales of lands and property of Five Civilized Tribes.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 25USC156]
TITLE 25--INDIANS
CHAPTER 4--PERFORMANCE BY UNITED STATES OF OBLIGATIONS TO INDIANS
SUBCHAPTER III--DEPOSIT, CARE, AND INVESTMENT OF INDIAN MONEYS
Sec. 156. Deposit of funds from sales of lands and property of
Five Civilized Tribes
The net receipts from the sales of surplus and unallotted lands and
other tribal property belonging to any of the Five Civilized Tribes,
after deducting the necessary expense of advertising and sale, may be
deposited in national or State banks in the State of Oklahoma in the
discretion of the Secretary of the Interior, such depositories to be
designated by him under such rules and regulations governing the rate of
interest thereon, the time of deposit and withdrawal thereof, and the
security therefor, as he may prescribe. The interest accruing on such
funds may be used to defray the expense of the per capita payments of
such funds.
(Mar. 3, 1911, ch. 210, Sec. 17, 36 Stat. 1070.)
Transfer of Functions
For transfer of functions of other officers, employees, and agencies
of Department of the Interior, with certain exceptions, to Secretary of
the Interior, with power to delegate, see Reorg. Plan No. 3 of 1950,
Secs. 1, 2, eff. May 24, 1950, 15 F.R. 3174, 64 Stat. 1262, set out in
the Appendix to Title 5, Government Organization and Employees.
Section Referred to in Other Sections
This section is referred to in section 86 of this title.
