FEDERAL · 31 U.S.C. · Chapter SUBCHAPTER II—CLAIMS OF THE UNITED STATES GOVERNMENT
Keeping money due States in default
31 U.S.C. § 3714
Title31 — Money and Finance
ChapterSUBCHAPTER II—CLAIMS OF THE UNITED STATES GOVERNMENT
This text of 31 U.S.C. § 3714 (Keeping money due States in default) is published on Counsel Stack Legal Research, covering United States primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
31 U.S.C. § 3714.
Text
The Secretary of the Treasury shall keep the necessary amount of money the United States Government owes a State when the State defaults in paying principal or interest on investments in stocks or bonds the State issues or guarantees and that the Government holds in trust. The money shall be used to pay the principal or interest or reimburse, with interest, money the Government advanced for interest due on the stocks or bonds.
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Source Credit
History
(Pub. L. 97–258, Sept. 13, 1982, 96 Stat. 972.)
Editorial Notes
The word "amount" is substituted for "whole, or so much thereof" for clarity. The word "owes" is substituted for "due on any account from the . . . to" to eliminate unnecessary words. The words "or either" and "thereon" are omitted as surplus.
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Bluebook (online)
31 U.S.C. § 3714, Counsel Stack Legal Research, https://law.counselstack.com/usc/31/3714.