2015 US Code
Title 15 - Commerce and Trade (Sections 1 - 8405)
Chapter 14A - Aid to Small Business (Sections 631 - 657s)
Sec. 635 - Deposit of moneys; depositaries, custodians, and fiscal agents; contributions to employees' compensation funds
Publication Title | United States Code, 2012 Edition, Supplement 3, Title 15 - COMMERCE AND TRADE |
Category | Bills and Statutes |
Collection | United States Code |
SuDoc Class Number | Y 1.2/5: |
Contained Within | Title 15 - COMMERCE AND TRADE CHAPTER 14A - AID TO SMALL BUSINESS Sec. 635 - Deposit of moneys; depositaries, custodians, and fiscal agents; contributions to employees' compensation funds |
Contains | section 635 |
Date | 2015 |
Laws In Effect As Of Date | January 3, 2016 |
Positive Law | No |
Disposition | standard |
Source Credit | Pub. L. 85-536, §2[6], July 18, 1958, 72 Stat. 387. |
Statutes at Large References | 67 Stat. 235 72 Stat. 387 |
Public and Private Laws | Public Law 85-536 |
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(a) All moneys of the Administration not otherwise employed may be deposited with the Treasury of the United States subject to check by authority of the Administration. The Federal Reserve banks are authorized and directed to act as depositaries, custodians, and fiscal agents for the Administration in the general performance of its powers conferred by this chapter. Any banks insured by the Federal Deposit Insurance Corporation, when designated by the Secretary of the Treasury, shall act as custodians and financial agents for the Administration. Each Federal Reserve bank, when designated by the Administrator as fiscal agent for the Administration, shall be entitled to be reimbursed for all expenses incurred as such fiscal agent.
(b) The Administrator shall contribute to the employees' compensation fund, on the basis of annual billings as determined by the Secretary of Labor, for the benefit payments made from such fund on account of employees engaged in carrying out functions financed by the revolving fund established by section 633(c) of this title. The annual billings shall also include a statement of the fair portion of the cost of the administration of such fund, which shall be paid by the Administrator into the Treasury as miscellaneous receipts.
(Pub. L. 85–536, §2[6], July 18, 1958, 72 Stat. 387.)
PRIOR PROVISIONSPrior similar provisions were contained in section 206 of act July 30, 1953, ch. 282, title II, 67 Stat. 235, which was previously classified to this section. See Codification note set out under section 631 of this title.
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