A bill to amend the American Indian Trust Fund Management Reform Act to direct the Secretary of the Interior to contract with qualified financial institutions for the investment of certain trust funds, and for other purposes.

Summary

Amends the American Indian Trust Fund Management Reform Act to direct the Secretary of the Interior to contract with qualified financial institutions that are regulated by a federal bank regulatory agency for the investment of all funds presently managed in trust status for Indian tribes and individual Indians, unless: (1) a tribe whose money is held in trust requests in writing that its funds continue to be invested by the Interior Department; or (2) contracting of a particular fund would be inconsistent with the U.S.'s trust responsibility or would contravene any provision of law specifically related to that fund. Requires the Secretary to afford a tribe an opportunity to designate in writing a qualified financial institution to manage its funds.

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Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 25 March 1999

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• Introduced in Senate (PDF)

  Introduced in Senate · EN · 25 March 1999

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 25 March 1999

  Open at official source

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