Title 48 — Territories and Insular Possessions
Chapter 14 — Trust Territory of the Pacific Islands
§ 1689. Plan for use of grant to Trust Territory of the Pacific Islands Economic Development Loan Fund; loans; terms
Statutory text
The grant authorized by section 1688 of this title shall be made only after the government of the Trust Territory of the Pacific Islands has submitted to the Secretary of the Interior a plan for the use of the grant, and the plan has been approved by the Secretary. The plan shall provide among other things for a revolving fund to make loans or to guarantee loans to private enterprise. The term of any loan made pursuant to the plan shall not exceed twenty-five years.
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.
Pub. L. 92–257 § 2 · 86 Stat. 87
Enacted · 48 U.S.C. § 1689
(Pub. L. 92–257, § 2, Mar. 21, 1972, 86 Stat. 87.)
Source evidence
Code source credit
(Pub. L. 92–257, § 2, Mar. 21, 1972, 86 Stat. 87.)Enacted provision · exact public law section
Sec. 2. The grant authorized by section 1 shall be made only after Plan for use. the government of the Trust Territory of the Pacific Islands has submitted to the Secretary of the Interior a plan for the use of the grant, and the plan has been approved by the Secretary. The plan shall provide among other things for a revolving fund to make loans or to guarantee loans to private enterprise. The term of any loan made Term. pursuant to the plan shall not exceed twenty-five years.
1 of 1 references resolved to an enrolled provision