31 U.S.C. § 3303

§3303. Designation of depositaries

Edition 2023

U.S.C. Title 31 - MONEY AND FINANCE
31 U.S.C.

United States Code, 2023 Edition

Title 31 - MONEY AND FINANCE

SUBTITLE III - FINANCIAL MANAGEMENT

CHAPTER 33 - DEPOSITING, KEEPING, AND PAYING MONEY

SUBCHAPTER I - DEPOSITS AND DEPOSITARIES

Sec. 3303 - Designation of depositaries

From the U.S. Government Publishing Office, www.gpo.gov

§3303. Designation of depositaries

(a) The Secretary of the Treasury designates depositaries of money as provided in this section and under other law.

(b) When necessary to carry out the business of the United States Government and under conditions the Secretary decides are necessary, the Secretary may designate depositaries in foreign countries and in territories and possessions of the United States to receive deposits of public money. The Secretary shall give preference to United States financial institutions the Secretary decides are safe and able to give the service required.

(Pub. L. 97–258, Sept. 13, 1982, 96 Stat. 949.)

Historical and Revision Notes
Revised SectionSource (U.S. Code)Source (Statutes at Large)

3303(a)
(no source).

3303(b)
31:473.
June 19, 1922, ch. 228, 42 Stat. 662.

Subsection (a) is added to inform the reader that there are numerous other laws providing for the designation of depositaries. These other laws are scattered throughout the titles of the United States Code.

In subsection (b), the words "carry out" are substituted for "transaction" for consistency. The words "terms and . . . as to security and otherwise" and "of public moneys" are omitted as surplus. The words "territories and possessions of the United States" are substituted for "Territories and insular possessions of the United States" for consistency. The words "to receive deposits of public money" are added for clarity.

Official source