20-U.S.C.-5606

§5606 – Establishment of Morris K. Udall and Stewart L. Udall Trust Fund

Pathway

Title 20 > Chapter 66 > Section 5606

Details

• Reference: Section 5606
• Legend: §5606 – Establishment of Morris K. Udall and Stewart L. Udall Trust Fund
• USCode Year: 2013

Provision Content

(a) Establishment of Trust Fund

There is established in the Treasury of the United States a trust fund to be known as the Morris K. Udall and Stewart L. Udall Trust Fund to be administered by a Foundation. The Trust Fund shall consist of amounts appropriated to it pursuant to section 5609(a) of this title and amounts credited to it under subsection (b) of this section.

(b) Investment of Trust Fund assets

(1)  In general.—It shall be the duty of the Secretary of the Treasury to invest, at the direction of the Foundation Board, in full the amounts appropriated to the Trust Fund. Such investments shall be in public debt securities with maturities suitable to the needs of the Trust Fund. Investments in public debt securities shall bear interest at rates determined by the Secretary of the Treasury taking into consideration the current average market yield on outstanding marketable obligations of the United States of comparable maturity.

(Pub. L. 102–259, §8, Mar. 19, 1992, 106 Stat. 82; Pub. L. 105–156, §9, Feb. 11, 1998, 112 Stat. 12; Pub. L. 111–90, §7, Nov. 3, 2009, 123 Stat. 2978.)

Amendments

2009—Pub. L. 111–90 substituted and Stewart L. Udall for Scholarship and Excellence in National Environmental Policy in section catchline and in subsec. (a).

1998—Subsec. (a). Pub. L. 105–156, §9(a), substituted The Trust Fund for The fund and 5609(a) for 5609.

Subsec. (b). Pub. L. 105–156, §9(b), substituted Trust Fund for Fund in two places.

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