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Co-Authored-By: Claude Opus 4.8 <noreply@anthropic.com>
2026-07-06 10:51:44 -04:00

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LegalText 31 U.S.C. § 3714 Keeping money due States in default us united_states_code code_section 31 MONEY AND FINANCE 37 CLAIMS 3714 31 U.S.C. § 3714 current 119-100 2026-06-26 official https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc31@119-100.zip /us/usc/t31/s3714 data/legal/raw/us/code/title-31/usc31.xml 41a9cc6d9b052163c987044b5b71192aff5949f3ff2ed25565d89fb16dd5a0b1 94d3fba324cbbc12277242f872f8f47cff5250dbcdc0057fe857212764e4b704 d9af9eca9f9443f823b9c8d4072f0be45b30a912a21eed8b4ac0eec29c454bd0 2026-07-04 official
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31 U.S.C. § 3714 - Keeping money due States in default

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.

(Pub. L. 97258, Sept. 13, 1982, 96 Stat. 972.)

Notes

Historical and Revision Notes Revised SectionSource (U.S. Code)Source (Statutes at Large) 371431:207.R.S. § 3481. 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.