§ 9602. Management of Trust Funds
255 words·~1 min read·
/usc/title-26/section-9602A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)Report It shall be the duty of the Secretary of the Treasury to hold each Trust Fund established by subchapter A, and (after consultation with any other trustees of the Trust Fund) to report to the Congress each year on the financial condition and the results of the operations of each such Trust Fund during the preceding fiscal year and on its expected condition and operations during the next 5 fiscal years. Such report shall be printed as a House document of the session of the Congress to which the report is made.
(b)Investment
(1)In general It shall be the duty of the Secretary of the Treasury to invest such portion of any Trust Fund established by subchapter A as is not, in his judgment, required to meet current withdrawals. Such investments may be made only in interest-bearing obligations of the United States. For such purpose, such obligations may be acquired—
(A)on original issue at the issue price, or
(B)by purchase of outstanding obligations at the market price.
(2)Sale of obligations Any obligation acquired by a Trust Fund established by subchapter A may be sold by the Secretary of the Treasury at the market price.
(3)Interest on certain proceeds The interest on, and the proceeds from the sale or redemption of, any obligations held in a Trust Fund established by subchapter A shall be credited to and form a part of the Trust Fund.
(Added Pub. L. 97–119, title I, § 103(a), Dec. 29, 1981, 95 Stat. 1638.)
Connections5 cite this
Cited by 5 sections
U.S. Code
statutes-at-large
- Public Law 99–662To provide for the conservation and development of water and related resources and the improvement and rehabilitation of the Nation’s water resources infrastructure
- Public Law 97–119To amend the Internal Revenue Code of 1954 to provide a temporary increase in the tax imposed on producers of coal, and for other purposes
2 references not yet in our index
- Pub. L. 97–119, title I, § 103(a)
- 95 Stat. 1638
Citation graph
cites case law
§ 9602
Management of Trust Funds
Stat.×2
U.S.C.×2
TFM×1
Pub. L.Pub. L. 97–119, title I, § 103(a)
Stat.95 Stat. 1638
Cites 2Cited by 5 across 3 sources