31 USC 323 - Sec. 323. Investment of operating cash
31 USC - US Code - Title 31: Money and Finance (January 2003)
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(a) To manage United States cash, the Secretary of the Treasury may invest any part of the operating cash of the Treasury for not more than 90 days. Investments may be made in obligations of - (1) depositaries maintaining Treasury tax and loan accounts secured by pledged collateral acceptable to the Secretary; and (2) the United States Government. (b) Subsection (a) of this section does not - (1) require the Secretary to invest a cash balance held in a particular account; or (2) permit the Secretary to require the sale of obligations by a particular person, dealer, or financial institution. (c) The Secretary shall consider the prevailing market in prescribing rates of interest for investments under subsection (a)(1) of this section.
Historical And Revision Notes
Revised Source (U.S. Code) Source (Statutes at Large) Section
323(a) 31:1038(1st Oct. 28, 1977, Pub. L. 95-147, sentence less 1st, Sec. 1, 91 Stat. 1227. 2d provisos). 323(b) 31:1038(1st, 2d provisos). 323(c) 31:1038(last sentence).
In subsection (a), before clause (1), the words "To manage United States cash" are substituted for "for cash management purposes" for clarity.
In clause (1), the words "as security for tax and loan accounts" are omitted as unnecessary.
In clause (2), the words "agencies of the United States" are omitted as being included in "the Government". In subsection (c), the words "Investments in obligations of depositaries maintaining such accounts" and "rates of interest" (the 2d time they appear) are omitted as unnecessary because of the restatement.
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