§158. Investment of proceeds of lands

The Secretary of the Interior shall invest in a manner which shall be in his judgment most safe and beneficial for the fund, all moneys that may be received under treaties containing stipulations for the payment to the Indians, annually, of interest upon the proceeds of the lands ceded by them; and he shall make no investment of such moneys, or of any portion, at a lower rate of interest than 5 per centum per annum.

(R.S. §2096.)

Codification

R.S. §2096 derived from act Jan. 9, 1837, ch. 1, §4, 5 Stat. 135 .

Transfer of Functions

For transfer of functions of other officers, employees, and agencies of Department of the Interior, with certain exceptions, to Secretary of the Interior, with power to delegate, see Reorg. Plan No. 3 of 1950, §§1, 2, eff. May 24, 1950, 15 F.R. 3174, 64 Stat. 1262, set out in the Appendix to Title 5, Government Organization and Employees.

Cross References

Custody of stocks or bonds held in trust for tribes to be in Secretary of the Treasury, see section 160 of this title.

Deposit of Indian trust funds in Treasury, see section 161 of this title.