2000 U.S. Code
Title 25 - INDIANS
CHAPTER 42 - AMERICAN INDIAN TRUST FUND MANAGEMENT REFORM
SUBCHAPTER I - RECOGNITION OF TRUST RESPONSIBILITY
Sec. 4011 - Responsibility of Secretary to account for daily and annual balances of Indian trust funds
View Metadata| Publication Title | United States Code, 2000 Edition, Title 25 - INDIANS |
| Category | Bills and Statutes |
| Collection | United States Code |
| SuDoc Class Number | Y 1.2/5: |
| Contained Within | Title 25 - INDIANS CHAPTER 42 - AMERICAN INDIAN TRUST FUND MANAGEMENT REFORM SUBCHAPTER I - RECOGNITION OF TRUST RESPONSIBILITY Sec. 4011 - Responsibility of Secretary to account for daily and annual balances of Indian trust funds |
| Contains | section 4011 |
| Date | 2000 |
| Laws in Effect as of Date | January 2, 2001 |
| Positive Law | No |
| Disposition | standard |
| Source Credit | Pub. L. 103-412, title I, §102, Oct. 25, 1994, 108 Stat. 4240. |
| Statutes at Large References | 108 Stat. 4240 112 Stat. 2681-231 113 Stat. 1535 114 Stat. 939 |
| Public Law References | Public Law 103-412, Public Law 105-277, Public Law 106-113, Public Law 106-291 |
§4011. Responsibility of Secretary to account for daily and annual balances of Indian trust funds (a) Requirement to account
The Secretary shall account for the daily and annual balance of all funds held in trust by the United States for the benefit of an Indian tribe or an individual Indian which are deposited or invested pursuant to section 162a of this title.
(b) Periodic statement of performanceNot later than 20 business days after the close of a calendar quarter, the Secretary shall provide a statement of performance to each Indian tribe and individual with respect to whom funds are deposited or invested pursuant to section 162a of this title. The statement, for the period concerned, shall identify—
(1) the source, type, and status of the funds;
(2) the beginning balance;
(3) the gains and losses;
(4) receipts and disbursements; and
(5) the ending balance.
(c) Annual auditThe Secretary shall cause to be conducted an annual audit on a fiscal year basis of all funds held in trust by the United States for the benefit of an Indian tribe or an individual Indian which are deposited or invested pursuant to section 162a of this title, and shall include a letter relating to the audit in the first statement of performance provided under subsection (b) of this section after the completion of the audit.
(Pub. L. 103–412, title I, §102, Oct. 25, 1994, 108 Stat. 4240.)
Performance and Account Statements for Inactive AccountsPub. L. 106–291, title I, Oct. 11, 2000, 114 Stat. 939, provided in part: “That notwithstanding any other provision of law, the Secretary shall not be required to provide a quarterly statement of performance for any Indian trust account that has not had activity for at least 18 months and has a balance of .00 or less: Provided further, That the Secretary shall issue an annual account statement and maintain a record of any such accounts and shall permit the balance in each such account to be withdrawn upon the express written request of the account holder.”
Similar provisions were contained in the following prior appropriation acts:
Pub. L. 106–113, div. B, §1000(a)(3) [title I], Nov. 29, 1999, 113 Stat. 1535, 1501A–153.
Pub. L. 105–277, div. A, §101(e) [title I], Oct. 21, 1998, 112 Stat. 2681–231, 2681–251.
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