2020 US Code
Title 8 - Aliens and Nationality
Chapter 12 - Immigration and Nationality
Subchapter II - Immigration
Part IX - Miscellaneous
Sec. 1363 - Deposit of and interest on cash received to secure immigration bonds

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Citation 8 U.S.C. § 1363 (2020)
Section Name §1363. Deposit of and interest on cash received to secure immigration bonds
Section Text

(a) Cash received by the Attorney General as security on an immigration bond shall be deposited in the Treasury of the United States in trust for the obligor on the bond, and shall bear interest payable at a rate determined by the Secretary of the Treasury, except that in no case shall the interest rate exceed 3 per centum per annum. Such interest shall accrue from date of deposit occurring after April 27, 1966, to and including date of withdrawal or date of breach of the immigration bond, whichever occurs first: Provided, That cash received by the Attorney General as security on an immigration bond, and deposited by him in the postal savings system prior to discontinuance of the system, shall accrue interest as provided in this section from the date such cash ceased to accrue interest under the system. Appropriations to the Treasury Department for interest on uninvested funds shall be available for payment of said interest.

(b) The interest accruing on cash received by the Attorney General as security on an immigration bond shall be subject to the same disposition as prescribed for the principal cash, except that interest accruing to the date of breach of the immigration bond shall be paid to the obligor on the bond.

Source Credit

(June 27, 1952, ch. 477, title II, ch. 9, §293, as added Pub. L. 91–313, §2, July 10, 1970, 84 Stat. 413.)


Editorial Notes STATUTORY NOTES AND RELATED SUBSIDIARIES ABOLITION OF IMMIGRATION AND NATURALIZATION SERVICE AND TRANSFER OF FUNCTIONS

For abolition of Immigration and Naturalization Service, transfer of functions, and treatment of related references, see note set out under section 1551 of this title.

Publication Title United States Code, 2018 Edition, Supplement 2, Title 8 - ALIENS AND NATIONALITY
Category Bills and Statutes
Collection United States Code
SuDoc Class Number Y 1.2/5:
Contained Within Title 8 - ALIENS AND NATIONALITY
CHAPTER 12 - IMMIGRATION AND NATIONALITY
SUBCHAPTER II - IMMIGRATION
Part IX - Miscellaneous
Sec. 1363 - Deposit of and interest on cash received to secure immigration bonds
Contains section 1363
Date 2020
Laws In Effect As Of Date January 13, 2021
Positive Law No
Disposition standard
Statutes at Large References 84 Stat. 413
Public Law References Public Law 91-313
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