
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: 31USC5115]

 
                       TITLE 31--MONEY AND FINANCE
 
                           SUBTITLE IV--MONEY
 
                     CHAPTER 51--COINS AND CURRENCY
 
                    SUBCHAPTER II--GENERAL AUTHORITY
 
Sec. 5115. United States currency notes

    (a) The Secretary of the Treasury may issue United States currency 
notes. The notes--
        (1) are payable to bearer; and
        (2) shall be in a form and in denominations of at least one 
    dollar that the Secretary prescribes.

    (b) The amount of United States currency notes outstanding and in 
circulation--
        (1) may not be more than $300,000,000; and
        (2) may not be held or used for a reserve.

(Pub. L. 97-258, Sept. 13, 1982, 96 Stat. 983.)

                                          Historical and Revision Notes
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---------------------------------
           Revised Section                   Source (U.S. Code)                
Source (Statutes at Large)
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---------------------------------
5115(a)..............................  31:401.                         R.S. Sec
.  3571.
5115(b)..............................  31:402.                         June 20,
 1874, ch. 343, Sec.  6, 18 Stat.
                                                                        124; Ja
n. 14, 1875, ch. 15, Sec.  3, 18
                                                                        Stat. 2
96.
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---------------------------------

    In the section, the words ``United States currency notes'' are 
substituted for ``United States notes'' for clarity and consistency in 
the revised title.
    In subsection (a), the first sentence is added for clarity and 
because of the restatement. The words ``shall not bear interest'' are 
omitted because of the source provisions restated in section 5118 of the 
revised title.
    In subsection (b), before clause (1), the words ``in circulation'' 
are substituted for ``to be used as a part of the circulation medium'' 
to eliminate unnecessary words. In clause (1), the words ``the sum of'' 
are omitted as surplus. The words ``which said sum shall appear in each 
monthly statement of the public debt'' are omitted because of the source 
provisions restated in section 5118 of the revised title. In clause (2), 
the words ``and no part thereof shall'' are omitted because of the 
restatement. The text of section 3(less 2d sentence) of the Act of 
January 14, 1875 (ch. 15, 18 Stat. 296), is omitted as executed.

                  Section Referred to in Other Sections

    This section is referred to in section 5119 of this title.
