It shall be the duty of the Secretary of the Treasury to invest in full the amounts appropriated to the Trust. Except as otherwise expressly provided in instruments concerning a gift, bequest, devise, or other donation and agreed to by the Corporation, such investments may be made only in interest-bearing obligations of the United States or in obligations guaranteed as to both principal and interest by the United States. For such purpose, such obligations may be acquired on original issue at the issue price or by purchase of outstanding obligations at the market price. Any obligation acquired by the Trust may be sold by the Secretary at the market price.
42 U.S. Code § 12601. Establishment of the National Service Trust
A prior section 12601, Pub. L. 101–610, title I, § 156, Nov. 16, 1990, 104 Stat. 3156, related to authority of Commission on National and Community Service to make grants to States or Indian tribes for creation of innovative volunteer and community service programs, prior to repeal by Pub. L. 103–82, § 104(a).
A prior section 145 of Pub. L. 101–610 was classified to section 12575 of this title prior to the general amendment of subtitle D of title I of Pub. L. 101–610 [former part D of this subchapter] by Pub. L. 103–82, § 102(a).
Subsec. (a)(2). Pub. L. 111–13, § 1401(b)(1)(B)(i), substituted “pursuant to section 12651g(a)(2) of this title, if the terms of such donations direct that the donated amounts be deposited in the National Service Trust” for “pursuant to section 12651g(a)(2) of this title”.
Subsec. (a)(3), (4). Pub. L. 111–13, § 1401(b)(1)(B)(ii)–(D), added par. (3) and redesignated former par. (3) as (4).
Subsec. (d)(4). Pub. L. 111–13, § 1401(b)(3)(C), (D), inserted “, additional approved summer of service positions, and additional approved silver scholar positions” after “additional approved national service positions”, struck out “under division C of this subchapter” after “make available”, and inserted “, summer of service educational awards, or silver scholar awards” after “national service educational awards”.
- Emergency Supplemental Appropriations Act for Defense, the Global War on Terror, and Hurricane Recovery, 2006