§162a. Deposit of tribal funds in banks; bond or collateral security; investments; collections from irrigation projects; affirmative action required — Inbound Citations
25 U.S.C. § 162a
Cited by 5 provisions in release 119-102.
Citations to 25 U.S.C. § 162a as a whole
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Except in the case of funds held in trust for Indian tribes or individuals, the funds available for expenditure under the “Indian moneys, proceeds of labor” accounts authorized by section 155 of this title may be expended until September 30, 1982 for any purpose for which funds are appropriated under the subheading “Operation of Indian Programs”.
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(a) The Secretary shall account for the daily and annual balance of all funds held in trust by the United States for the benefit of an Indian tribe or an individual Indian which are deposited or invested pursuant to section 162a of this title.
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(b) Not later than 20 business days after the close of a calendar quarter, the Secretary shall provide a statement of performance to each Indian tribe and individual with respect to whom funds are deposited or invested pursuant to section 162a of this title. The statement, for the period concerned, shall identify—(1) the source, type, and status of the funds;(2) the beginning balance;(3) the gains and losses;(4) receipts and disbursements; and(5) the ending balance.
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(c) The Secretary shall cause to be conducted an annual audit on a fiscal year basis of all funds held in trust by the United States for the benefit of an Indian tribe or an individual Indian which are deposited or invested pursuant to section 162a of this title, and shall include a letter relating to the audit in the first statement of performance provided under subsection (b) after the completion of the audit.
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(I) Any investments referred to in the Act of June 24, 1938 (25 U.S.C. 162a).