20 USC § 5606 Establishment of Morris K. Udall and Stewart L. Udall Trust Fund | United States Code | US Law

20 USC § 5606

Establishment of Morris K. Udall and Stewart L. Udall Trust Fund

through Pub. L. 116-344, except Pub. Ls. 116-260 and 116-283

USC

(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).

(b) Investment of Trust Fund assets

(1) ¹In 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.

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.

1 So in original. No par. (2) has been enacted.

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