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U.S. Code as of:
01/19/04
Section 9602. Management of Trust Funds
(a) Report
It shall be the duty of the Secretary of the Treasury to hold
each Trust Fund established by subchapter A, and (after
consultation with any other trustees of the Trust Fund) to report
to the Congress each year on the financial condition and the
results of the operations of each such Trust Fund during the
preceding fiscal year and on its expected condition and operations
during the next 5 fiscal years. Such report shall be printed as a
House document of the session of the Congress to which the report
is made.
(b) Investment
(1) In general
It shall be the duty of the Secretary of the Treasury to invest
such portion of any Trust Fund established by subchapter A as is
not, in his judgment, required to meet current withdrawals. Such
investments may be made only in interest-bearing obligations of
the United States. For such purpose, such obligations may be
acquired -
(A) on original issue at the issue price, or
(B) by purchase of outstanding obligations at the market
price.
(2) Sale of obligations
Any obligation acquired by a Trust Fund established by
subchapter A may be sold by the Secretary of the Treasury at the
market price.
(3) Interest on certain proceeds
The interest on, and the proceeds from the sale or redemption
of, any obligations held in a Trust Fund established by
subchapter A shall be credited to and form a part of the Trust
Fund.
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