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Current as of January 01, 2024 | Updated by Findlaw Staff
(a)In general
No officer or employee of the United States shall--
(1) delay the deposit of any amount into (or delay the credit of any amount to) any Federal fund or otherwise vary from the normal terms, procedures, or timing for making such deposits or credits,
(2) refrain from the investment in public debt obligations of amounts in any Federal fund, or
(3) redeem prior to maturity amounts in any Federal fund which are invested in public debt obligations for any purpose other than the payment of benefits or administrative expenses from such Federal fund.
(b)“Public debt obligation” defined
For purposes of this section, the term “public debt obligation” means any obligation subject to the public debt limit established under section 3101 of Title 31.
(c)“Federal fund” defined
For purposes of this section, the term “Federal fund” means--
(1) the Federal Old-Age and Survivors Insurance Trust Fund;
(2) the Federal Disability Insurance Trust Fund;
(3) the Federal Hospital Insurance Trust Fund; and
(4) the Federal Supplementary Medical Insurance Trust Fund.
Cite this article: FindLaw.com - 42 U.S.C. § 1320b-15 - U.S. Code - Unannotated Title 42. The Public Health and Welfare § 1320b-15. Protection of social security and medicare trust funds - last updated January 01, 2024 | https://codes.findlaw.com/us/title-42-the-public-health-and-welfare/42-usc-sect-1320b-15/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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