Washington : Government Printing Office
|Chap. 197||Livestock loaned to Indians.|
|Chap. 197||Value of livestock.|
|Sec. 2||Deposit of receipts.|
|Sec. 2||25 U.S.C. §§ 461-479, 501-509; Sup. III, §§ 502, 505.|
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled, That all acceptances of cash settlements by the Commissioner of Indian Affairs for livestock lent by the United States to any individual Indian, or to any tribe, association, corporation, or other group of Indians, and all sales and relending of livestock repaid in kind to the United States on account of such loans are hereby authorized and ratified: Provided, That hereafter the value of such livestock for the purposes of any such cash settlement shall be based on prevailing market prices in the area and shall be ascertained by a committee composed of three members, one of whom shall be selected by the superintendent of the particular agency, one of whom shall be selected by the chairman of the tribal council, and one of whom shall be selected by the other two members.
Any moneys hereafter received in settlement of such debts or from the sale of livestock so repaid to the United States shall be depositied in the revolving fund established pursuant to the Acts of June 18, 1934 (48 Stat. 984), and June 26, 1936 (49 Stat. 1967), as amended and supplemented.
Approved, May 24, 1950.