§ 1461. Administration as single Indian Revolving Loan Fund sums from diverse sources; availability of fund for loans to Indians and for administrative expenses

Footnotes

1. 1 So in original. Probably should be “(49 Stat. 1967),”.

Legislative history

Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.

1. 1974

   Indian Financing Act of 1974

   Pub. L. 93–262 title I § 101 · [88 Stat. 77]

   Enacted · 25 U.S.C. § 1461

   Pub. L. 93–262, title I, § 101, Apr. 12, 1974, 88 Stat. 78

   Source evidence

   Code source credit
   Pub. L. 93–262, title I, § 101, Apr. 12, 1974, 88 Stat. 78

   Enacted provision · exact public law section
   Sec. 101. In order to provide credit that is not available from private money markets, all funds that are now or hereafter a part of the 25 USC 470. 25 USC 506. 25 USC 634. revolving fund authorized by the Act of June 18, 1934 (48 Stat. 986), the Act of June 26, 1936 (49 Stat. 1968), and the Act of April 19, 1950 (64 Stat. 44), as amended and supplemented, including sums received in settlement of debts of livestock pursuant to the Act of 25 USC 442, 443. May 24, 1950 ( 64 Stat. 190), and sums collected in repayment of loans heretofore or hereafter made, and as interest or other charges on loans, shall hereafter be administered as a single Indian Revolving Loan Fund. The fund shall be available for loans to Indians having a form of organization that is satisfactory to the Secretary and for loans to individual Indians who are not members of or eligible for membership in an organization which is making loans to its members: Provided, That, where the Secretary determines a rejection of a loan application from a member of an organization making loans to its membership from moneys borrowed from the fund is unwarranted, he may, in his discretion, make a direct loan to such individual from the fund. The fund shall also be available for administrative expenses incurred in connection therewith.

2. 1984

   Indian Financing Act Amendments of 1984

   Pub. L. 98–449 § 2 · 98 Stat. 1725

   Struck · 25 U.S.C. § 1461

   Pub. L. 98–449 which directed that “which are not members of or eligible for membership in an organization which is making loans to its members” be struck out was executed by striking out “who are not members of or eligible for membership in an organization which is making loans to its members” before proviso

   Source evidence

   Code amendment note
   Pub. L. 98–449 which directed that “which are not members of or eligible for membership in an organization which is making loans to its members” be struck out was executed by striking out “who are not members of or eligible for membership in an organization which is making loans to its members” before proviso.

   Enacted provision · exact public law section
   Sec. 2. Section 101 of the Indian Financing Act of 1974 (25 U.S.C. 1461) is amended by striking out “which are not members of or eligible for membership in an organization which is making loans to its members”.

3. 1990

   Pub. L. 101–644 title III § 303(a) · 104 Stat. 4662

   1. Substituted · 25 U.S.C. § 1461

      Pub. L. 101–644 substituted “money markets, or to supplement funds from private lenders, including loans guaranteed by the Secretary pursuant to section 1481 of this title,” for “money markets,” in first sentence

   2. Inserted · 25 U.S.C. § 1461

      Pub. L. 101–644 inserted before period at end of third sentence “, or, in the discretion of the Secretary of the Interior, as a contribution to the Indian Loan Guaranty and Insurance Fund authorized by section 1497 of this title, or for the payment of interest subsidies authorized by section 1511 of this title”

   Source evidence

   Code amendment note
   Pub. L. 101–644 substituted “money markets, or to supplement funds from private lenders, including loans guaranteed by the Secretary pursuant to section 1481 of this title,” for “money markets,” in first sentence and inserted before period at end of third sentence “, or, in the discretion of the Secretary of the Interior, as a contribution to the Indian Loan Guaranty and Insurance Fund authorized by section 1497 of this title, or for the payment of interest subsidies authorized by section 1511 of this title”.

   Enacted provision · exact public law section
   (a) Section 101 of the Indian Financing Act of 1974 (25 U.S.C. 1461) is amended— (1) by deleting “money markets,” and inserting in lieu thereof the following: “money markets, or to supplement funds from private lenders, including loans guaranteed by the Secretary pursuant to section 201 of this Act,”; and (2) by inserting immediately before the period at the end of the third sentence a comma and the following: “or, in the discretion of the Secretary of the Interior, as a contribution to the Indian Loan Guaranty and Insurance Fund authorized by section 217 of this Act, or for the payment of interest subsidies authorized by section 301 of this Act”.

4 of 4 references resolved to an enrolled provision