Sec. 3. Increase and streamline recovery of unclaimed assets owed to the United States
113 words·~1 min read·
/bill/116/s/2009/is/section-3A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 3711 of title 31, United States Code, is amended by adding at the end the following: The Secretary of the Treasury (referred to in this subsection as the Secretary ) may locate and recover unclaimed assets of the United States Government on behalf of any executive, judicial, or legislative agency in accordance with such procedures as the Secretary considers appropriate. Notwithstanding any other provision of law concerning the depositing or collection of Federal payments, including section 3302(b), the Secretary may retain a portion of the amounts recovered under this subsection to cover the administrative and operational costs of the Secretary associated with locating and recovering assets of the United States Government. .