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25 U.S.C. § 155b — Proceeds of labor accounts; deposits limited to funds held in trust for Indian tribes or individuals
Federal law — U.S. Code and appendices · legal_authorities
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](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title25-section155&num=0&edition=prelim) 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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Source file: Laws/federal/codes/united-states-code/title-25/section-155b-proceeds-of-labor-accounts-deposits-limited-to-funds-held-in-trust-for-i--ae8a3a3058.md
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Source location: Title 25, Chapter 4, § 155b; chapter-004-performance-by-united-states-of-obligations-to-indians.md
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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](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title25-section155&num=0&edition=prelim) 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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Federal law — U.S. Code and appendices · legal_authorities
The Bureau of Indian Affairs, under the supervision of the Secretary of the Interior, shall direct, supervise, and expend such moneys as Congress may from time to time appropriate, for the benefit, care, and assistance of the Indians throughout the United States for the following purposes:
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Federal law — U.S. Code and appendices · legal_authorities
All miscellaneous revenues derived from Indian reservations, agencies, and schools, except those of the Five Civilized Tribes and not the result of the labor of any member of such tribe, which are not required by existing law to be otherwise disposed of, shall be covered into the Treasury of the United States under the caption “Indian moneys, proceeds of labor”, and are made available for expenditure, in the discretion of the Secretary of the Interior, for the benefit of the Indian tribes, agencies, and schools on whose behalf they are collected, subject, however, to the limitations as to tribal funds, imposed by sections 123 and 142 11 See References in Text note below. of this title.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Deposit of tribal trust funds in banks** The Secretary of the Interior is hereby authorized in his discretion, and under such rules and regulations as he may prescribe, to withdraw from the United States Treasury and to deposit in banks to be selected by him the common or community funds of any Indian tribe which are, or may hereafter be, held in trust by the United States and on which the United States is not obligated by law to pay interest at higher rates than can be procured from the banks. The said Secretary is also authorized, under such rules and regulations as he may prescribe, to withdraw from the United States Treasury and to deposit in banks to be selected by him the funds held in trust by the United States for the benefit of individual Indians: Provided, That no individual Indian money shall be deposited in any bank until the bank shall have agreed to pay interest thereon at a reasonable rate, subject, however, to the regulations of the Board of Governors of the Federal Reserve System in the case of member banks, and of the Board of Directors of the Federal Deposit Insurance Corporation in the case of insured nonmember banks, except that the payment of interest may be waived in the discretion of the Secretary of the Interior on any deposit which is payable on demand: Provided further, That no tribal or individual Indian money shall be deposited in any bank until the bank shall have furnished an acceptable bond or pledged collateral security therefor in the form of any public-debt obligations of the United States and any bonds, notes, or other obligations which are unconditionally guaranteed as to both interest and principal by the United States, except that no such bond or collateral shall be required to be furnished by any such bank which is entitled
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Federal law — U.S. Code and appendices · legal_authorities
Page 42
TITLE 25—INDIANS
§ 155a
Statutory Notes and Related Subsidiaries
REPEALS
Act May 29, 1928, repealed the provisions of acts Mar.
3, 1883 and Mar. 2, 1887, which related to Indian moneys,
proceeds of labor.
Executive Documents
TRANSFER OF FUNCTIONS
For transfer of functions of other officers, employees,
and agencies of Department of the Interior, with cer-
tain exceptions, to Secretary of the Interior, with
power to delegate, see Reorg. Plan No. 3 of 1950, §§ 1, 2,
eff. May 24, 1950, 15 F.R. 3174, 64 Stat. 1262, set out in
the Appendix to Title 5, Government Organization and
Employees.
§ 155a. Transferred
Editorial Notes
CODIFICATION
Section, act May 17, 1926, ch. 309, § 1, 44 Stat. 560,
which related to disposal of miscellaneous revenues
from Indian reservations, was merged into section 155
of this title.
§ 155b. Proceeds of labor accounts; deposits lim-
ited to funds held in trust for Indian tribes
or individuals
Except in the case of funds held in trust for In-
dian tribes or individuals, the funds available
for expenditure under the ‘‘Indian moneys, pro-
ceeds of labor’’ accounts authorized by section
155 of this title may be expended until Sep-
tember 30, 1982 for any purpose for which funds
are appropriated under the subheading ‘‘Oper-
ation of Indian Programs’’.
No funds shall be deposited in such ‘‘Indian
money, proceeds of labor’’ (IMPL) accounts after
September 30, 1982. The unobligated balance in
IMPL accounts as of the close of business on
September 30, 1982, including the income result-
ing from the investment of funds from such ac-
counts prior to such date, shall be transferred to
and held in escrow accounts at the locations of
the IMPL accounts from which they are trans-
ferred. Funds in such escrow accounts may be
i
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