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16 U.S.C. § 6409 - U.S. Code - Unannotated Title 16. Conservation § 6409. Coral Reef Disaster Fund

Current as of January 01, 2024 | Updated by FindLaw Staff

(a)Agreements

The Administrator shall seek to enter into an agreement with the National Fish and Wildlife Foundation (in this section referred to as the “Foundation”), authorizing the Foundation to receive, hold, and administer funds received under this section.

(b)Fund

(1)In general

The Foundation shall establish an account, to be known as the “Coral Reef Disaster Fund” (in this section referred to as the “Fund”).

(2)Deposits

The Foundation shall deposit funds received under this section into the Fund.

(3)Purposes

The Fund shall be available solely to support the long-term recovery of coral reefs from exigent circumstances described in section 6408(b) of this title--

(A) in partnership with non-Federal stakeholders; and

(B) in a manner that is consistent with--

(i) the National Coral Reef Resilience Strategy; and

(ii) coral reef action plans in effect, if any, under section 6404 of this title.

(4)Investment of amounts

(A)Investment of amounts

The Foundation shall invest such portion of the Fund as is not required to meet current withdrawals in interest-bearing obligations of the United States or in obligations guaranteed as to both principal and interest by the United States.

(B)Interest and proceeds

The interest on, and the proceeds from, the sale or redemption of, any obligations held in the Fund shall be credited to and form a part of the Fund.

(5)Review of performance

The Administrator shall conduct continuing reviews of all deposits into, and disbursements from, the Fund. Each such review shall include a written assessment concerning the extent to which the Foundation has implemented the goals and requirements of this section.

(c)Authorization to solicit donations

(1)In general

Pursuant to an agreement entered into under subsection (a), the Foundation may accept, receive, solicit, hold, administer, and use any gift (including, notwithstanding section 1342 of Title 31, donations of services) to further the purposes of this chapter.

(2)Deposits in Fund

Notwithstanding section 3302 of Title 31, any funds received as a gift shall be deposited and maintained in the Fund.

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Cite this article: FindLaw.com - 16 U.S.C. § 6409 - U.S. Code - Unannotated Title 16. Conservation § 6409. Coral Reef Disaster Fund - last updated January 01, 2024 | https://codes.findlaw.com/us/title-16-conservation/16-usc-sect-6409/

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