United States Code

USC most recently checked for updates: Mar 23, 2023

§ 694–2.
Revolving fund for qualified contract guarantees; investment of idle funds

There is created within the Treasury a separate fund for guarantees which shall be available to the Administrator without fiscal year limitations as a revolving fund for the purpose of section 694–1 of this title. All amounts received by the Administrator, including any moneys, property, or assets derived by him from his operations in connection with section 694–1 of this title shall be deposited in the fund. All expenses and payments, excluding administrative expenses, pursuant to operations of the Administrator under section 694–1 of this title shall be paid from the fund. Moneys in the fund not needed for the payment of current operating expenses or for the payment of claims arising under this part may be invested in bonds or other obligations of, or bonds or other obligations guaranteed as to principal and interest by, the United States; except that moneys provided as capital for the fund shall not be so invested.

(Pub. L. 85–699, title IV, § 405, as added Pub. L. 94–305, title I, § 102, June 4, 1976, 90 Stat. 665; amended Pub. L. 95–89, title I, § 104, Aug. 4, 1977, 91 Stat. 556; Pub. L. 96–302, title I, § 112, July 2, 1980, 94 Stat. 837.)
cite as: 15 USC 694-2