AMENDMENTS

1979-Pub. L. 96-78 added provisions relating to increases or decreases in the permanent debt limit which may from time to time be provided by law (through the congressional budget process as described in rule XLIX of the Rules of the House of Representatives or otherwise).

EFFECTIVE DATE OF 1979 AMENDMENT

Section 203 of Pub. L. 96-78 provided in part that the amendment of this section by Pub. L. 96-78 is applicable with respect to concurrent resolutions on the budget for fiscal years beginning on or after Oct. 1, 1980.

TEMPORARY INCREASES IN PUBLIC DEBT

The public debt limit set forth in this section was temporarily increased for limited periods by the following acts:

Sept. 30, 1981, Pub. L. 97-49, 95 Stat. 956-Increase of $679,800,000,000 for the period beginning on Oct. 1, 1981, to Sept. 30, 1982.

Sept. 30, 1981, Pub. L. 97-48, 95 Stat. 955-Increase of $599,800,000,000 for the period beginning on Sept. 30, 1981, to Sept. 30, 1981.

Feb. 7, 1981, Pub. L. 97-2, § 1, 95 Stat. 4-Increase of $585,000,000,000 for the period Feb. 7, 1981, to Sept. 30, 1981.

Dec. 19, 1980, Pub. L. 96-556, § 1, 94 Stat. 3261-Increase of $535,100,000,000 for the period Oct. 1, 1980, to Sept. 30, 1981.

June 28, 1980, Pub. L. 96-286, § 1, 94 Stat. 598-Increase of $525,000,000,000 for the period June 28, 1980, to Feb. 28, 1981.

Sept. 29, 1979, Pub. L. 96-78, title I, § 101(a), 93 Stat. 589, as amended May 30, 1980, Pub. L. 96-256, 94 Stat. 421; June 6, 1980, Pub. L. 96-264, § 1, 94 Stat. 439-Increase of $479,000,000,000 for the period Sept. 29, 1979, to June 30, 1980.

Apr. 2, 1979, Pub. L. 96-5, § 1, 93 Stat. 8-Increase of $430,000,000,000 for the period Apr. 2, 1979, to Sept. 30, 1979.

Aug. 3, 1978, Pub. L. 95-333, § 1, 92 Stat. 419-Increase of $398,000,000,000 for the period Aug. 3, 1978, to Mar. 31, 1979.

Oct. 4, 1977, Pub. L. 95-120, § 1, 91 Stat. 1090, as amended Mar. 27, 1978, Pub. L. 95-252, 92 Stat. 185Increase of $352,000,000,000 for the period Oct. 4, 1977, to July 31, 1978.

REPEALS OF TEMPORARY DEBT LIMITS

Pub. L. 96-5, § 1, Apr. 2, 1979, 93 Stat. 8, providing for a temporary increase of $430,000,000,000 for the period Apr. 2, 1979, to Sept. 30, 1979, was repealed by Pub. L. 96-78, title I, § 101(b), Sept. 29, 1979, 93 Stat. 589.

Pub. L. 95-333, § 1, Aug. 3, 1978, 92 Stat. 419, providing for a temporary increase of $398,000,000,000 in the public debt limit for the period Oct. 3, 1978, to Mar. 31, 1979, was repealed by Pub. L. 96-5, § 2, Apr. 2, 1979, 93 Stat. 8.

Pub. L. 95-120, § 1, Oct. 4, 1977, 91 Stat. 1090, as amended, providing for a temporary increase of $352,000,000,000 in the public debt limit for the period Oct. 4, 1977 to July 31, 1978, was repealed by Pub. L. 95-333, § 2, Aug. 3, 1978, 92 Stat. 419.

Pub. L. 94-334, § 1, June 30, 1976, 90 Stat. 793, providing for a temporary increase of $300,000,000,000 in the public debt limit for the period Apr. 1, 1977, to Sept. 30, 1977, was repealed by Pub. L. 95-120, § 2, Oct. 4, 1977, 91 Stat. 1090.

§ 757c. United States savings bonds and Treasury savings certificates

[See main edition for text of (a)]

(b) Issuance on discount or interest-bearing basis; terms and conditions; limitation of purchases; retention of matured bonds; investment yield increases on savings bonds

[See main edition for text of (1) and (2)]

(3) The Secretary of the Treasury, with the approval of the President, may fix the investment yield on any United States savings bond at a yield which is above the 5% per centum limitation contained in paragraph (1). The aggregate of the increases in investment yield which may take effect during any 6-month period pursuant to the preceding sentence for any United States savings bonds may not exceed 1 per centum per annum compounded semiannually.

[See main edition for text of (c) to (j)] (As amended Apr. 2, 1979, Pub. L. 96–5, § 4, 93 Stat. 8; Oct. 3, 1980, Pub. L. 96-377, § 1, 94 Stat. 1512.)

AMENDMENTS

1980-Subsec. (b)(3). Pub. L. 96-377, in revising the investment yield on United States savings bonds above the 52 per centum limitation, substituted limitation of aggregate increases during any 6-month period to 1 per centum per annum compounded semiannually for prior limitation to 7 per centum per annum compounded semiannually.

1979-Subsec. (b)(3). Pub. L. 96-5 substituted "may increase the investment yield on any United States savings bonds above the 5% per centum limitation contained in paragraph (1) so long as such yield does not exceed 7 per centum per annum compounded semiannually" for "may increase the interest rates and the investment yields on any offerings of United States savings bonds by not more than one-half of one percent for any interest accrual period that begins on or after June 1, 1970, and for any interest accrual period thereafter, to be paid as a bonus either on redemption or at maturity as the Secretary shall specify at the time the increase is provided".

EFFECTIVE DATE OF 1980 AMENDMENT Section 1 of Pub. L. 96-377 provided in part that amendment by section 1 of Pub. L. 96-377 shall apply with respect to interest accrual periods beginning after Oct. 3, 1980.

EFFECTIVE DATE OF 1979 AMENDMENT

Section 4 of Pub. L. 96-5 provided in part that the amendment by Pub. L. 96-5 is effective with respect to interest accrual periods beginning after Apr. 2, 1979.

§ 760. Second and third Liberty loans; appropriation to pay expenses of issue of bonds

REFERENCES IN TEXT

This Act, referred to in text, is act Sept. 24, 1917, ch. 56, 40 Stat. 288, as amended, known as the Second Liberty Bond Act. For complete classification of this Act to the Code, see References in Text note set out under section 774 of this title and Tables.

§ 774. Short titles of Acts

ACTS REFERRED TO IN OTHER SECTIONS The First Liberty Bond Act is referred to in sections 752a, 755, 755a, 761, 767, 801, 802, 803 of this title.

The Second Liberty Bond Act is referred to in sections 750, 760, 761, 767, 802, 803, 1351 of this title: title 7 sections 903, 934, 947, 1032, 1516, 1929, 1929a, 1988; title 12 sections 635b, 635c, 635d, 1431, 1701q, 1719,

1720, 1721, 1723e, 1723g, 1723h, 1725, 1749, 1783, 1824, 2288; title 15 sections 78ddd, 633, 713a-4, 1848, 2509; title 16 sections 831n-1, 831n-3, 831n-4, 838k, 1456a, 1606a; title 20 sections 760, 1081, 1087-2, 1087hh, 2009; title 22 sections 282e, 283e, 284e, 286e, 286m, 1980, 2195, 2906; title 26 sections 405, 409, 454, 1037; title 29 sections 773, 1305; title 30 section 1144; title 33 section 985; title 38 section 1823; title 39 section 2007; title 40 section 875; title 42 sections 291j-6, 293f, 2931, 294g, 296d, 300e-7, 300q-2, 401, 1104, 1395e, 1395i, 1395t, 1437b, 1440, 1452, 1481, 1487, 1494, 2414, 3906, 4518, 5308, 8795; title 43 section 1812; title 45 sections 231n, 602, 664, 720, 832; title 46 section 1275; title 48 sections 1407c, 1574b; title 49 section 1742; title 50 section 167j. The Third Liberty Bond Act is referred to in section 767 of this title.

The Fourth Liberty Bond Act is referred to in section 767 of this title.

CHAPTER 13-CREDIT AND CURRENCY EXPANSION

§ 822a. Dealings in gold, foreign exchange, instruments of credit and securities

(a) Authorization for dealing; annual report

The Secretary of the Treasury, with the approval of the President, directly or through such agencies as he may designate, is authorized, for the account of the fund established in this section, to deal in gold and foreign exchange and such other instruments of credit and securities as he may deem necessary, consistent with the United States obligations in the International Monetary Fund regarding orderly exchange arrangements and a stable system of exchange rates: Provided, however, That no loan or credit to a foreign government or entity shall be extended by or through such Fund for more than six months in any twelvemonth period unless the President provides a written determination to the Congress that unique or exigent circumstances make such loan or credit necessary for a term greater than six months. The Secretary of the Treasury shall annually make a report on the operations of the fund to the President and to the Congress.

(b) Stabilization fund; monthly financial statement to congressional committees: fund agreements,

transactions, and liabilities

(1) To enable the Secretary of the Treasury to carry out the provisions of this section there is appropriated, out of the receipts which are directed to be covered into the Treasury under section 408b of this title, the sum of $2,000,000,000, which sum when available shall be deposited in the United States Treasury in a stabilization fund (hereinafter called the "fund") under the exclusive control of the Secretary of the Treasury, with the approval of the President, whose decisions shall be final and not be subject to review by any other officer of the United States. The fund shall be available for expenditure, under the direction of the Secretary of the Treasury and in his discretion, for any purpose in connection with carrying out the provisions of this section, including the investment and reinvestment in direct obligations of the United States of any portions of the fund which the Secretary of the Treasury, with the approval of the President, may from time to time determine are not currently

required for the purposes prescribed by this section: Provided, That the fund shall not be available for the payment of administrative expenses. Such fund shall not be used in any manner whereby direct control and custody thereof pass from the President and the Secretary of the Treasury. The proceeds of all sales and investments and all earnings and interest accruing under the operations of this section shall be paid into the fund and shall be available for the purposes of the fund.

(2) Within 30 days after the close of each calendar month beginning after the effective date of this paragraph, the Secretary of the Treasury shall provide to the Committee on Banking, Finance, and Urban Affairs of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate, a detailed financial statement of the fund respecting all agreements entered into or renewed, all transactions occurring during such month, and all liabilities projected to occur.

[See main edition for text of (c)]

(d) Treasury personnel allowances and benefits comparable to Foreign Service personnel for performance of international affairs functions of Treasury; rules and regulations

The Secretary of the Treasury may, under such rules and regulations as he may prescribe, provide to personnel performing the international affairs functions of the Department of the Treasury allowances and benefits comparable to those provided by chapter 9 of title I of the Foreign Service Act of 1980 [22 U.S.C. 4081 et seq.).

(As amended Oct. 19, 1976, Pub. L. 94-564, § 7, 90 Stat. 2661; Oct. 28, 1977, Pub. L. 95-147, § 4(b), 91 Stat. 1229; Nov. 8, 1978, Pub. L. 95-612, §§ 1, 2, 6, 92 Stat. 3091, 3092; Oct. 17, 1980, Pub. L. 96-465, title II, § 2206(f), 94 Stat. 2163.)

REFERENCES IN TEXT

For effective date of this paragraph, referred to in subsec. (b)(2), see Effective Date of 1978 Amendment note below.

The Foreign Service Act of 1980, referred to in subsec. (d), is Pub. L. 96-465, Oct. 17, 1980, 94 Stat. 2071. Chapter 9 of title I of the Foreign Service Act of 1980 is classified generally to subchapter IX (§ 4081 et seq.) of chapter 52 of Title 22, Foreign Relations and Intercourse. For complete classification of this Act to the Code, see Short Title note set out under section 3901 of Title 22 and Tables.

AMENDMENTS

nated the existing provisions, as amended, as par. (1) and added par. (2), respectively.

Subsec. (d). Pub. L. 95-612, § 2, added subsec. (d). 1977-Subsec. (a). Pub. L. 95-147, § 4(b)(1), substituted "necessary, consistent" for "necessary to and consistent" and inserted "regarding orderly exchange arrangements and a stable system of exchange rates: Provided, however, That no loan or credit to a foreign government or entity shall be extended by or through such Fund for more than six months in any twelvemonth period unless the President provides a written determination to the Congress that unique or exigent circumstances make such loan or credit necessary for a term greater than six months" following "International Monetary Fund".

Subsec. (b). Pub. L. 95-147, § 4(b)(2), substituted "the purposes prescribed by this section" for "stabilizing the exchange value of the dollar".

1976-Subsec. (a). Pub. L. 94-564 substituted "The Secretary of the Treasury" for "For the purpose of stabilizing the exchange value of the dollar, the Secretary of the Treasury" and "necessary to and consistent with the United States obligations in the International Monetary Fund" for "necessary to carry out the purpose of this section".

EFFECTIVE DATE OF 1980 AMENDMENT Amendment by Pub. L. 96-465 effective Feb. 15, 1981, except as otherwise provided, see section 2403 of Pub. L. 96-465, set out as an Effective Date note under section 3901 of Title 22, Foreign Relations and Intercourse.

EFFECTIVE DATE OF 1978 AMENDMENT Section 7 of Pub. L. 95-612 provided that: "This Act [amending this section, section 5108 of Title 5, Government Organization and Employees, and section 276c-2 of Title 22, Foreign Relations and Intercourse, and enacting provisions set out as a note under section 5108 of Title 51 shall take effect on October 1, 1978, or on such later date as funds are made available pursuant to appropriation Acts authorized by section 5 of this Act [authorizing appropriations of $24,000,000 for fiscal year 1979; not classified to the Code]."

EFFECTIVE DATE OF 1976 AMENDMENT

Amendment by Pub. L. 94-564 effective upon entry into force of the amendments to the Articles of Agreement of the International Monetary Fund approved in Resolution Numbered 31-4 of the Board of Governors of the Fund [Apr. 1, 1978], see section 9 of Pub. L. 94-564, set out as an Effective Date of 1976 Amendment note under section 286a of Title 22, Foreign Relations and Intercourse.

STUDY ON ROLE OF GOLD IN DOMESTIC AND INTERNATIONAL MONETARY SYSTEMS; ESTABLISHMENT OF COMMISSION; REPORT TO CONGRESS; AVAILABILITY OF APPROPRIATIONS

Pub. L. 96-389, § 10, Oct. 7, 1980, 94 Stat. 1555, as amended Pub. L. 97-47, § 2, Sept. 30, 1981, 95 Stat. 954, provided that:

"(a) The Secretary of the Treasury shall establish and chair a commission consisting of

"(1) three members of the Board of Governors of the Federal Reserve System and two members of the Council of Economic Advisors, all of whom shall be designated by the Secretary of the Treasury;

"(2) one majority and one minority member each from (A) the Joint Economic Committee of the Congress, (B) the Committee on Banking, Housing, and Urban Affairs of the Senate, and (C) the Committee on Banking, Finance and Urban Affairs of the House of Representatives, who shall be designated by the Speaker of the House of Representatives and the President of the Senate, respectively, upon the recommendations of the majority and minority leaders of the respective Houses; and

"(3) four distinguished private citizens with busi ness, finance, or academic backgrounds who shall be designated by the Secretary.

"(b) The commission shall conduct a study to assess and make recommendations with regard to the policy of the United States Government concerning the role of gold in domestic and international monetary systems, and shall transmit to the Congress a report containing its findings and recommendations not later than March 31, 1982.

"(c) Sums appropriated pursuant to section 5 of Public Law 95-612 [Pub. L. 95-612, § 5, Nov. 8, 1978, 92 Stat. 3092, which was not classified to the Code] shall be available to the commission to carry out its func tions."

SECTION REFERRED TO IN OTHER SECTIONS

This section is referred to in sections 440, 444, 445, 446, 822b of this title; title 22 sections 276c-2, 286e, 286e-3, 286e-7, 2860.

§ 822b. Rules and regulations

The Secretary of the Treasury is authorized to issue, with the approval of the President, such rules and regulations as the Secretary may deem necessary or proper to carry out the purposes of this Act.

(Jan. 30, 1934, ch. 6, § 11, 48 Stat. 342.)

REFERENCES IN TEXT

This Act, referred to in text, means act Jan. 30, 1934, ch. 6, 48 Stat. 337, known as the Gold Reserve Act of 1934, which enacted sections 315b, 405b, 408a, 408b, 440 to 446, 754a, 754b, 822a, 822b, and 824 of this title, and amended sections 314, 316, 733, 734, 752, 753, 767, 771, 821 of this title and sections 411 to 415, 417, and 467 of Title 12, Banks and Banking.

CODIFICATION

Section is set out in this supplement to correct error in the translation appearing in the main edition.

CHAPTER 14-FINANCIAL CONTROL OF GOVERNMENT CORPORATIONS

CHAPTER REFERRED TO IN OTHER SECTIONS

This chapter is referred to in sections 65a, 483a, 1351 of this title; title 5 section 8147; title 7 section 943; title 12 sections 1723a, 1725, 1749a, 1789, 2151, 2293; title 15 section 714c; title 16 section 8381; title 20 section 1082; title 22 sections 290f, 2199, 2395; title 38 section 4206; title 40 sections 474, 481, 483, 490, 491; title 42 sections 294h, 1437h, 1456, 4124, 8775; title 45 section 741; title 48 section 1407b; title 49 section 1537; title 50 section 543; title 50 App. section 1941g.

SUBCHAPTER I-PURPOSES

§ 841. Declaration of policy

SECTION REFERRED TO IN OTHER SECTIONS This section is referred to in title 5 section 8147; title 15 section 713a-4.

SUBCHAPTER II—WHOLLY OWNED GOVERNMENT CORPORATIONS

SUBCHAPTER REFERRED TO IN OTHER SECTIONS

This subchapter is referred to in title 12 section 1438; title 22 section 290h-6.

§ 846. Definition of "wholly owned Government corporation"

REFERENCES IN TEXT

For definition of Panama Canal Company, referred to in text, see section 3602(b) of Title 22, Foreign Relations and Intercourse.

TERMINATION OF CORPORATIONS

The Virgin Islands Corporation terminated its functions June 30, 1965, and was dissolved July 1, 1966.

SECTION REFERRED TO IN OTHER SECTIONS

This section is referred to in sections 1201, 1351 of this title; title 5 sections 4101, 8147; title 7 section 943; title 12 sections 1757, 2293; title 16 section 838i; title 41 sections 403, 601.

SUBCHAPTER III-MIXED-OWNERSHIP GOVERNMENT CORPORATIONS

§ 851. Audit report to Congress; scope and contents; specific itemization of operations without color of authority; copies to President, etc.

SECTION REFERRED TO IN OTHER SECTIONS This section is referred to in title sections 4101, 8147; title 16 sections 831n-4, 838i; title 42 section 8777.

§856. Definition of "mixed-ownership Government corporations"

As used in this chapter the term "mixed-ownership Government corporations" means (1) the Central Bank for Cooperatives and the Regional Banks for Cooperatives, (2) Federal Land Banks, (3) Federal Intermediate Credit Banks, (4) Federal Home Loan Banks, (5) Federal Deposit Insurance Corporation, (6) the National Railroad Passenger Corporation, (7) the Rural Telephone Bank, (8) the United States Railway Association, and (9) the National Credit Union Administration Central Liquidity Facility.

(As amended Aug. 20, 1978, Pub. L. 95-351, title III, § 301(a), 92 Stat. 513; Nov. 10, 1978, Pub. L. 95-630, title XVIII, § 1805, 92 Stat. 3724; Aug. 13, 1981, Pub. L. 97-35, title III, § 396(h)(1), 95 Stat. 440.)

CODIFICATION

Amendment by Pub. L. 95-351, which directed in part that the word "and" be struck out preceding cl. (9), was executed by striking out "and" preceding cl. (8), as the probable intent of Congress, in view of the prior repeal of cl. (9) by section 612(b) of Pub. L. 94-210.

Amendment by section 1805(1) of Pub. L. 95-630, which directed that the word "and" be struck out preceding cl. (8), was not executed in view of execution of the amendment by Pub. L. 95-351. See note above.

AMENDMENTS

1981-Pub. L. 97-35 struck out cl. (10), which related to the National Consumer Cooperative Bank.

1978-Pub. L. 95-630 inserted as par. (9) the National Credit Union Administration Central Hiquidity Facility in the definition of mixed-ownership Government corporations.

Pub. L. 95-351 inserted as par. (10) the National Consumer Cooperative Bank in the definition of mixed-ownership Government corporations, and redesignated par. (6), relating to Rural Telephone Bank, as par. (7), which change had been editorially made prior to this amendment for purposes of codification.

EFFECTIVE DATE OF 1981 AMENDMENT Amendment by Pub. L. 97-35 effective on the day after the Final Government Equity Redemption Date, see section 396(i) of Pub. L. 97-35, set out as an Effective Date of 1981 Amendment note under section 3011 of Title 12, Banks and Banking. The Final Government Equity Redemption Date is Dec. 31, 1981, pursuant to section 3026(a)(1)(A) of Title 12, and pursuant to section 501(36) of Pub. L. 97-101, which is set out as a note under section 3026 of Title 12.

EFFECTIVE DATE OF 1978 AMENDMENT

Amendment by Pub. L. 95-630 effective Oct. 1, 1979, see section 1806 of Pub. L. 95-630, set out as an Effective Date note under section 1795 of Title 12, Banks and Banking.

SUBCHAPTER IV-MISCELLANEOUS

PROVISIONS

§ 867. Depositary for banking or checking accounts; exemption of temporary accounts and accounts of certain corporations

The banking or checking accounts of all wholly owned and mixed-ownership Government corporations shall be kept with the Treasurer of the United States, or, with the approval of the Secretary of the Treasury, with a Federal Reserve bank, or with a bank designated as a depositary or fiscal agent of the United States: Provided, That the Secretary of the Treasury may waive the requirements of this section under such conditions as he may determine: And provided further, That this section will not apply to the establishment and maintenance in any bank for a temporary period of banking and checking accounts not in excess of $50,000 in any one bank. The provisions of this section shall not be applicable to Federal Intermediate Credit Banks, the Central Bank for Cooperatives, the Regional Banks for Cooperatives, or the Federal Land Banks, except that each such corporation shall be required to report annually to the Secretary of the Treasury the names of the depositaries in which such corporation keeps a banking or checking account, and the Secretary of the Treasury may make a report in writing to the corporation, to the President, and to the Congress which he deems advisable upon receipt of any such annual report.

(As amended Aug. 20, 1978, Pub. L. 95-351, title III, § 301(b), 92 Stat. 514; Aug. 13, 1981, Pub. L. 97-35, title III, § 396(h)(2), 95 Stat. 440.)

AMENDMENTS

1981-Pub. L. 97-35 struck out reference to the National Consumer Cooperative Bank. 1978-Pub. L. 95-351 added reference to the National Consumer Cooperative Bank.

EFFECTIVE DATE OF 1981 AMENDMENT

Amendment by Pub. L. 97-35 effective on the day after the Final Government Equity Redemption Date, see section 396(i) of Pub. L. 97-35, set out as an Effective Date of 1981 Amendment note under section 3011 of Title 12, Banks and Banking. The Final Government Equity Redemption Date is Dec. 31, 1981, pursuant to section 3026(a)(1)(A) of Title 12, and pursuant to section 501(36) of Pub. L. 97-101, which is set out as a note under section 3026 of Title 12.

§ 868. Bonds, notes, and debentures, etc.

[See main edition for text of (a) to (c)] (d) Exemption of corporations under certain conditions; exemption of certain corporations Any mixed-ownership Government corporation from which Government capital has been entirely withdrawn shall not be subject to the provisions of section 867 of this title or of this section during the period such corporation remains without Government capital. The provisions of subsections (a) and (b) of this section shall not be applicable to the Rural Telephone Bank, Federal Intermediate Credit Banks, the Central Bank for Cooperatives, the Regional Banks for Cooperatives, or the Federal Land Banks, except that each such corporation shall be required to consult with the Secretary of the Treasury prior to taking any action of the kind covered by the provisions of subsections (a) and (b) of this section, and in the event an agreement is not reached, the Secretary of the Treasury may make a report in writing to the corporation, to the President, and to the Congress stating the grounds for his disagreement. (As amended Aug. 20, 1978, Pub. L. 95-351, title III, § 301(c), 92 Stat. 514; Aug. 13, 1981, Pub. L. 97-35, title III, § 396(h)(3), 95 Stat. 441.)

AMENDMENTS

1981-Subsec. (d). Pub. L. 97-35 struck out reference to the National Consumer Cooperative Bank. 1978-Subsec. (d). Pub. L. 95-351 added reference to the National Consumer Cooperative Bank.

EFFECTIVE DATE OF 1981 AMENDMENT Amendment by Pub. L. 97-35 effective on the day after the Final Government Equity Redemption Date, see section 396(i) of Pub. L. 97-35, set out as an Effective Date of 1981 Amendment note under section 3011 of Title 12, Banks and Banking. The Final Government Equity Redemption Date is Dec. 31, 1981, pursuant to section 3026(a)(1)(A) of Title 12, and pursuant to section 501(36) of Pub. L. 97-101, which is set out as a note under section 3026 of Title 12.

§ 869. Creation, organization, or acquisition of corporations; liquidation of certain corporations; reincorporation

SECTION REFERRED TO IN OTHER SECTIONS This section is referred to in title 5 section 8147. CHAPTER 18-COMPROMISE AND COLLECTION OF FEDERAL CLAIMS

CHAPTER REFERRED TO IN OTHER SECTIONS This chapter is referred to in title 7 section 2025; title 20 section 1234a; title 42 section 5042; title 45 section 64a.

§ 1023. Administrative expenses of Treasury Depart ment; authority of Secretary

TRANSFER OF FUNCTIONS

For transfer of all intelligence, investigative, and law enforcement functions of the Secretary of the Treas ury under subsec. (c), relating to the suppression of illicit traffic in narcotics, dangerous drugs, or marihua na, to the Attorney General, with certain exceptions, see Reorg. Plan No. 2 of 1973, § 1, eff. July 1, 1973, 38 F.R. 15932, 87 Stat. 1091, set out in the Appendix to Title 5, Government Organization and Employees.

§ 1027. Reports of Secretary of Treasury CODIFICATION

The third par. of R.S. § 257, which provided for a report on rules and regulations of the Secretary of the Treasury on imported goods, wares, and merchandise, was omitted as obsolete because R.S. § 252 (authorizing those rules and regulations) was repealed by act Feb. 27, 1877, ch. 69, 19 Stat. 241.

The fourth par. of R.S. § 257, which provided for a report on amounts of hospital taxes collected from sick and disabled seamen, was omitted as obsolete because the tax was repealed by act June 26, 1884, ch. 121, § 15, 23 Stat. 57.

§ 1038. Investment of public moneys

The Secretary of the Treasury is authorized, for cash management purposes, to invest any portion of the Treasury's operating cash for pe riods of up to ninety days in (1) obligations of depositaries maintaining Treasury tax and loan accounts secured by a pledge of collateral acceptable to the Secretary of the Treasury as security for tax and loan accounts, and (2) obligations of the United States and of agencies of the United States: Provided, That the authority granted under this section shall not be construed as requiring the Secretary of the Treas ury to invest any or all of the cash balance held in any particular account: Provided further, That the authority granted under this section shall not be construed as permitting the Secre tary of the Treasury to require the sale of such obligations by any particular person, dealer, or financial institution. Investments in obligations of depositaries maintaining such accounts shall be made at rates of interest prescribed by the Secretary of the Treasury, after taking into consideration prevailing market rates of inter

est.

(Pub. L. 95-147, § 1, Oct. 28, 1977, 91 Stat. 1227.) CHAPTER 21-REPORTS OF CURRENCY AND FOREIGN TRANSACTIONS

CHAPTER REFERRED TO IN OTHER SECTIONS This chapter is referred to in title 12 sections 1829b, 3401.

SUBCHAPTER IV—FOREIGN CURRENCY REPORTS

§ 1141. Congressional statement of findings

REFERENCES IN TEXT

Section 95a of title 12, referred to in text, in the original read "section 5(b) of the Emergency Banking Act of 1933 (12 U.S.C. 95a)". The reference probably should have been to section 5(b) of the Trading With the Enemy Act, which Act was amended by section 2