12-U.S.C.-4711

§4711 – Investment of Receipts and Proceeds

Pathway

Title 12 > Chapter 47 > Subchapter I > Section 4711

Details

• Reference: Section 4711
• Legend: §4711 – Investment of Receipts and Proceeds
• USCode Year: 2013

Provision Content

(a) Establishment of account

Any dividends on equity investments and proceeds from the disposition of investments, deposits, or credit union shares that are received by the Fund as a result of assistance provided pursuant to section 4707 or 4712 of this title, and any fees received pursuant to section 4708(f) of this title shall be deposited and accredited to an account of the Fund in the United States Treasury (hereafter in this section referred to as the account) established to carry out the purpose of this subchapter.

(b) Investments

Upon request of the Administrator, the Secretary of the Treasury shall invest amounts deposited in the account in public debt securities with maturities suitable to the needs of the Fund, as determined by the Administrator, and bearing interest at rates determined by the Secretary of the Treasury, comparable to current market yields on outstanding marketable obligations of the United States of similar maturities.

(c) Availability

Amounts deposited into the account and interest earned on such amounts pursuant to this section shall be available to the Fund until expended.

(Pub. L. 103–325, title I, §112, Sept. 23, 1994, 108 Stat. 2177.)

U.S. Encyclopedia of Law Coverage

12-U.S.C.-4638 in the Legal Encyclopedia: Banking Law

In this entry about 12-U.S.C.-4638, find legal reference material, bibliographies and premiere content related to banking law in the American Encyclopedia of Law, presenting a comprehensive view of the United States banking law-specific issues, written by authorities in the field.

12-U.S.C.-531 in the Legal Encyclopedia: Banks

In this entry about 12-U.S.C.-531, find legal reference material, bibliographies and premiere content related to banks in the American Encyclopedia of Law, presenting a comprehensive view of the United States banks-specific issues, written by authorities in the field.

Topic Map

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