- § 4011. Responsibility of Secretary to account for daily and annual balances of Indian trust funds
- § 4012. Authority for payment of claims for interest owed
§ 4011. Responsibility of Secretary to account for daily and annual balances of Indian trust funds
(a) Requirement to account
(b) Periodic statement of performance
Not later than 20 business days after the close of a calendar quarter, the Secretary shall provide a statement of performance to each Indian tribe and individual with respect to whom funds are deposited or invested pursuant to section 162a of this title. The statement, for the period concerned, shall identify—
(1) the source, type, and status of the funds;
(2) the beginning balance;
(3) the gains and losses;
(4) receipts and disbursements; and
(5) the ending balance.
(c) Annual audit
(Pub. L. 103–412, title I, § 102, Oct. 25, 1994, 108 Stat. 4240.)
§ 4012. Authority for payment of claims for interest owed
The Secretary shall make payments to an individual Indian in full satisfaction of any claim of such individual for interest on amounts deposited or invested on behalf of such individual before October 25, 1994, retroactive to the date that the Secretary began investing individual Indian monies on a regular basis, to the extent that the claim is identified—
(1) by a reconciliation process of individual Indian money accounts, or
(2) by the individual and presented to the Secretary with supporting documentation, and is verified by the Secretary pursuant to the Department’s policy for addressing accountholder losses.
(Pub. L. 103–412, title I, § 104, Oct. 25, 1994, 108 Stat. 4241.)