
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 31USC323]

 
                       TITLE 31--MONEY AND FINANCE
 
                           SUBTITLE I--GENERAL
 
                  CHAPTER 3--DEPARTMENT OF THE TREASURY
 
                      SUBCHAPTER II--ADMINISTRATIVE
 
Sec. 323. Investment of operating cash

    (a) To manage United States cash, the Secretary of the Treasury may 
invest any part of the operating cash of the Treasury for not more than 
90 days. Investments may be made in obligations of--
        (1) depositaries maintaining Treasury tax and loan accounts 
    secured by pledged collateral acceptable to the Secretary; and
        (2) the United States Government.

    (b) Subsection (a) of this section does not--
        (1) require the Secretary to invest a cash balance held in a 
    particular account; or
        (2) permit the Secretary to require the sale of obligations by a 
    particular person, dealer, or financial institution.

    (c) The Secretary shall consider the prevailing market in 
prescribing rates of interest for investments under subsection (a)(1) of 
this section.

(Pub. L. 97-258, Sept. 13, 1982, 96 Stat. 882.)

                                          Historical and Revision Notes
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           Revised Section                   Source (U.S. Code)                
Source (Statutes at Large)
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323(a)...............................  31:1038(1st sentence less 1st,  Oct. 28,
 1977, Pub. L. 95-147, Sec.  1,
                                        2d provisos).                   91 Stat
. 1227.
323(b)...............................  31:1038(1st, 2d provisos).
323(c)...............................  31:1038(last sentence).
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    In subsection (a), before clause (1), the words ``To manage United 
States cash'' are substituted for ``for cash management purposes'' for 
clarity. In clause (1), the words ``as security for tax and loan 
accounts'' are omitted as unnecessary. In clause (2), the words 
``agencies of the United States'' are omitted as being included in ``the 
Government''.
    In subsection (c), the words ``Investments in obligations of 
depositaries maintaining such accounts'' and ``rates of interest'' (the 
2d time they appear) are omitted as unnecessary because of the 
restatement.
