§ 160. — Custody of stocks or bonds held in trust for 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: 25USC160]
TITLE 25--INDIANS
CHAPTER 4--PERFORMANCE BY UNITED STATES OF OBLIGATIONS TO INDIANS
SUBCHAPTER III--DEPOSIT, CARE, AND INVESTMENT OF INDIAN MONEYS
Sec. 160. Custody of stocks or bonds held in trust for tribes
All stocks, bonds, or other securities or evidences of indebtedness
held by the Secretary of the Interior on June 10, 1876, in trust for the
benefit of certain Indian tribes shall, within thirty days from that
date, be transferred to the Treasurer of the United States, who shall
become the custodian thereof; and it shall be the duty of said Treasurer
to collect all interest falling due on said bonds, stocks, and so forth,
and deposit the same in the Treasury of the United States, and to issue
certificates of deposit therefor, in favor of the Secretary of the
Interior, as trustee for various Indian tribes. And the Treasurer of the
United States shall also become the custodian of all bonds and stocks
which may be purchased for the benefit of any Indian tribe or tribes
after the transfer of funds herein authorized, and shall make all
purchases and sales of bonds and stocks authorized by treaty
stipulations or by acts of Congress when requested so to do by the
Secretary of the Interior: Provided, That nothing in this section shall
in any manner impair or affect the supervisory and appellate powers and
duties in regard to Indian affairs which may be vested in the Secretary
of the Interior as trustee for various Indian tribes, except as to the
custody of said bonds and the collection of interest thereon as
hereinbefore mentioned.
(June 10, 1876, ch. 122, 19 Stat. 58.)
Transfer of Functions
For transfer of functions of other officers, employees, and agencies
of Department of the Treasury, with certain exceptions, to Secretary of
the Treasury, with power to delegate, see Reorg. Plan No. 26 of 1950,
Secs. 1, 2, eff. July 31, 1950, 15 F.R. 4935, 64 Stat. 1280, set out in
the Appendix to Title 5, Government Organization and Employees.
