Pub. L. 107-228, div. A, tit. II, subtit. A, sec. 207

INTERNATIONAL CHANCERY CENTER.

EnactedYear: 2002Length: 190 wordsOfficial source
SEC. 207. INTERNATIONAL CHANCERY CENTER. Section 1 of the Act of October 8, 1968 (Public Law 90-553, as amended; commonly known as the “International Center Act”) is amended— (1) by redesignating clauses (a) and (b) as clauses (1) and (2), respectively; (2) by inserting “(a)” after “That”; and (3) by adding at the end the following new subsections: “(b) There is established in the Treasury of the United States an account into which may be deposited funds provided as advance payments pursuant to subsection (a). “(c) The Secretary of State may request the Secretary of the Treasury to invest such portion of the funds deposited in that account as is not, in the judgment of the Secretary of State, required to meet the current needs of the account. Such investments shall be made by the Secretary of the Treasury in public debt securities with maturities suitable to the needs of the account, as determined by the Secretary of State, and bearing interest at a rate determined by the Secretary of the Treasury, taking into consideration the current market yields on outstanding marketable obligations of the United States of comparable maturity.”.
Pub. L. 107-228, div. A, tit. II, subtit. A, sec. 207: INTERNATIONAL CHANCERY CENTER. | Justis AI