Pub. L. 102-281, tit. V, sec. 506

FINANCIAL ASSURANCES.

EnactedYear: 1992Length: 213 wordsOfficial source
SEC. 506. FINANCIAL ASSURANCES. (a) No Net Cost to the Government.—The Secretary shall take such actions as may be necessary to ensure that minting and issuing coins under this title will not result in any net cost to the United States Government. (b) Payment for Coins.—A coin shall not be issued under this title unless the Secretary has received— (1) full payment for the coin; (2) security satisfactory to the Secretary to indemnify the United States for full payment; or (3) a guarantee of full payment satisfactory to the Secretary from a depository institution the deposits of which are insured by the Federal Deposit Insurance Corporation or the National Credit Union Administration Board. (c) Reports to Congress.—Not later than fifteen days after the last day of each month, the Secretary shall transmit to the Committee on Banking, Finance and Urban Affairs of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate a report detailing activities carried out under this title during such month. The report shall include a review of all marketing activities and a financial statement which 106 STAT. 148details sources of funds, surcharges generated, and expenses incurred for manufacturing, materials, overhead, packaging, marketing, and shipping. No report shall be required after January 15, 1994.
Pub. L. 102-281, tit. V, sec. 506: FINANCIAL ASSURANCES. | Justis AI