25 U.S.C. § 155b — Proceeds of labor accounts; deposits lim-

Page 42 TITLE 25—INDIANS § 155a Statutory Notes and Related Subsidiaries REPEALS Act May 29, 1928, repealed the provisions of acts Mar. 3, 1883 and Mar. 2, 1887, which related to Indian moneys, proceeds of labor.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 invested as provided in section 162a of this title and the investment income added to such ac- counts. The Secretary shall determine no later than September 30, 1985 (after consultation with appropriate tribes and individual Indians) the extent to which the funds held in such escrow accounts represent income from the investment of special deposits relating to specific tribes or individual Indians. Upon such a determination by the Secretary and express acceptance of the determination by the beneficiary, the Secretary shall transfer such funds to trust accounts for such tribes or individual Indians. Not more than ten percent of the funds transferred to trust ac- counts for any tribe or individual Indian under this provision may be utilized to pay for legal or other representation relating to claims for such funds. Not to exceed two percent of the funds transferred from the IMPL accounts shall be available to reimburse the Bureau of Indian Af- fairs for administrative expenses incurred in de- termining ownership of the funds. Acceptance of a determination by the Secretary and the trans- fer of funds under this provision shall constitute a complete release and waiver of any and all claims by the beneficiary against the United States relating to the unobligated balance of IMPL accounts as of the close of business on September 30, 1982. During the period of October 1, 1985 through September 30, 1987, or earlier if a Secretarial determination on ownership and ap- propriate fund transfers has been completed, the funds remaining in such escrow accounts be- cause they have not been transferred to trust ac- counts, may be expended subject to the approval of the Secretary for any purpose authorized under section 13 of this title and requested by the respective governing bodies of the tribes at the locations where such accounts are main- tained. The unobligated balances of such escrow accounts as of the close of business on Sep- tember 30, 1987, shall be deposited into miscella- neous receipts of the Treasury. (Pub. L. 97–100, title I, § 100, Dec. 23, 1981, 95 Stat. 1400; Pub. L. 97–257, title I, § 100, Sept. 10, 1982, 96 Stat. 839.) Editorial Notes REFERENCES IN TEXT The purposes for which funds are appropriated under the subheading ‘‘Operation of Indian Programs’’, re- ferred to in text, are the purposes enumerated in the Department of the Interior and Related Agencies Ap- propriation Act, 1982, Pub. L. 97–100, title I, § 100, Dec. 23, 1981, 95 Stat. 1399. AMENDMENTS 1982—Pub. L. 97–257 substituted ‘‘No funds shall be de- posited in such ‘Indian money, proceeds of labor’ (IMPL) accounts after September 30, 1982’’ for ‘‘On Sep- tember 30, 1982, the balance of such accounts (except for the funds held in trust for Indian tribes or individuals, and not to exceed $10,000,000 which shall be available until expended by eligible tribes for purposes approved by the Bureau of Indian Affairs) shall be deposited into miscellaneous receipts of the Treasury to offset outlays of the Bureau of Indian Affairs and thereafter no funds shall be deposited in such accounts other than funds held in trust for Indian tribes or individuals’’ and in- serted provisions that the unobligated balance in IMPL accounts as of the close of business on September 30, 1982, including the income resulting from the invest- ment of funds from such accounts prior to such date, be transferred to and held in escrow accounts at the loca- tions of the IMPL accounts from which they are trans- ferred, that Funds in such escrow accounts may be in- vested as provided in section 162a of this title and the investment income added to such accounts, that the Secretary determine no later than September 30, 1985 (after consultation with appropriate tribes and indi- vidual Indians) the extent to which the funds held in such escrow accounts represent income from the in- vestment of special deposits relating to specific tribes or individual Indians, that upon such a determination by the Secretary and express acceptance of the deter- mination by the beneficiary, the Secretary transfer such funds to trust accounts for such tribes or indi- vidual Indians, that not more than ten percent of the funds transferred to trust accounts for any tribe or in- dividual Indian under this provision be utilized to pay for legal or other representation relating to claims for such funds, that not to exceed two percent of the funds transferred from the IMPL accounts be available to re- imburse the Bureau of Indian Affairs for administrative expenses incurred in determining ownership of the funds, that acceptance of a determination by the Sec- retary and the transfer of funds under this provision constitute a complete release and waiver of any and all claims by the beneficiary against the United States re- Page 43 TITLE 25—INDIANS § 160 lating to the unobligated balance of IMPL accounts as of the close of business on September 30, 1982, that dur- ing the period of October 1, 1985 through September 30, 1987, or earlier if determination on ownership and ap- propriate fund transfers has been completed, the funds remaining in such escrow accounts may be expended subject to the approval of the Secretary under section 13 of this title and requested by the respective gov- erning bodies of the tribes, and that the unobligated balances of escrow accounts as of the close of business on September 30, 1987, be deposited into miscellaneous receipts of the Treasury. § 156. Deposit of funds from sales of lands and property of Five Civilized Tribes The net receipts from the sales of surplus and unallotted lands and other tribal property be- longing to any of the Five Civilized Tribes, after deducting the necessary expense of advertising and sale, may be deposited in national or State banks in the State of Oklahoma in the discre- tion of the Secretary of the Interior, such de- positories to be designated by him under such rules and regulations governing the rate of in- terest thereon, the time of deposit and with- drawal thereof, and the security therefor, as he may prescribe. The interest accruing on such funds may be used to defray the expense of the per capita payments of such funds. (Mar. 3, 1911, ch. 210, § 17, 36 Stat. 1070.) 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. § 157. Investments of stock required by treaties All investments of stock, that are or may be required by treaties with the Indians, shall be made under the direction of the President; and special accounts of the funds under such treaties shall be kept at the Treasury, and statements thereof be annually laid before Congress. (R.S. § 2095.) Editorial Notes CODIFICATION R.S. § 2095 derived from act Jan. 9, 1837, ch. 1, § 3, 5 Stat. 135. § 158. Investment of proceeds of lands The Secretary of the Interior shall invest in a manner which shall be in his judgment most safe and beneficial for the fund, all moneys that may be received under treaties containing stipu- lations for the payment to the Indians, annu- ally, of interest upon the proceeds of the lands ceded by them; and he shall make no investment of such moneys, or of any portion, at a lower rate of interest than 5 per centum per annum. (R.S. § 2096.) Editorial Notes CODIFICATION R.S. § 2096 derived from act Jan. 9, 1837, ch. 1, § 4, 5 Stat. 135. 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. § 159. Moneys due incompetents or orphans The Secretary of the Interior is directed to cause settlements to be made with all persons appointed by the Indian councils to receive mon- eys due to incompetent or orphan Indians, and to require all moneys found to be due to such in- competent or orphan Indians to be returned to the Treasury; and all moneys so returned shall bear interest at the rate of 6 per centum per annum, until paid by order of the Secretary of the Interior to those entitled to the same. No money shall be paid to any person appointed by any Indian council to receive moneys due to in- competent or orphan Indians, but the same shall remain in the Treasury of the United States until ordered to be paid by the Secretary to those entitled to receive the same, and shall bear 6 per centum interest until so paid. (R.S. § 2108.) Editorial Notes CODIFICATION R.S. § 2108 derived from act July 5, 1862, ch. 135, § 6, 12 Stat. 529. 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. § 160. Custody of stocks or bonds held in trust for tribes All stocks, bonds, or other securities or evi- dences of indebtedness held by the Secretary of the Interior on June 10, 1876, in trust for the benefit of certain Indian tribes shall, within thirty days from that date, be transferred to the Treasurer of the United States, who shall be- come the custodian thereof; and it shall be the duty of said Treasurer to collect all interest falling due on said bonds, stocks, and so forth, and deposit the same in the Treasury of the United States, and to issue certificates of de- posit therefor, in favor of the Secretary of the Interior, as trustee for various Indian tribes. And the Treasurer of the United States shall also become the custodian of all bonds and stocks which may be purchased for the benefit of any Indian tribe or tribes after the transfer of funds herein authorized, and shall make all pur- chases and sales of bonds and stocks authorized by treaty stipulations or by acts of Congress when requested so to do by the Secretary of the Interior: Provided, That nothing in this section