
From the U.S. Code Online via GPO Access
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[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 26USC9602]

 
                     TITLE 26--INTERNAL REVENUE CODE
 
                       Subtitle I--Trust Fund Code
 
                       CHAPTER 98--TRUST FUND CODE
 
                    Subchapter B--General Provisions
 
Sec. 9602. Management of Trust Funds


(a) Report

    It shall be the duty of the Secretary of the Treasury to hold each 
Trust Fund established by subchapter A, and (after consultation with any 
other trustees of the Trust Fund) to report to the Congress each year on 
the financial condition and the results of the operations of each such 
Trust Fund during the preceding fiscal year and on its expected 
condition and operations during the next 5 fiscal years. Such report 
shall be printed as a House document of the session of the Congress to 
which the report is made.

(b) Investment

                           (1) In general

        It shall be the duty of the Secretary of the Treasury to invest 
    such portion of any Trust Fund established by subchapter A as is 
    not, in his judgment, required to meet current withdrawals. Such 
    investments may be made only in interest-bearing obligations of the 
    United States. For such purpose, such obligations may be acquired--
            (A) on original issue at the issue price, or
            (B) by purchase of outstanding obligations at the market 
        price.

                       (2) Sale of obligations

        Any obligation acquired by a Trust Fund established by 
    subchapter A may be sold by the Secretary of the Treasury at the 
    market price.

                  (3) Interest on certain proceeds

        The interest on, and the proceeds from the sale or redemption 
    of, any obligations held in a Trust Fund established by subchapter A 
    shall be credited to and form a part of the Trust Fund.

(Added Pub. L. 97-119, title I, Sec. 103(a), Dec. 29, 1981, 95 Stat. 
1638.)

                  Section Referred to in Other Sections

    This section is referred to in sections 9502, 9503, 9504, 9505, 
9506, 9507, 9508, 9509 of this title; title 42 sections 9505, 9506, 
9507, 9508, 9510.
