31 U.S.C. § 3302 — Custodians of money

Page 234 TITLE 31—MONEY AND FINANCE § 3302 1 See References in Text note below. 3332, 3515, and 3521 of this title and enacting provisions set out as notes under section 501 of this title] may be cited as the ‘Federal Financial Management Act of 1994’.’’ § 3302. Custodians of money (a) Except as provided by another law, an offi- cial or agent of the United States Government having custody or possession of public money shall keep the money safe without— (1) lending the money; (2) using the money; (3) depositing the money in a bank; and (4) exchanging the money for other amounts. (b) Except as provided in section 3718(b) 1 of this title, an official or agent of the Government receiving money for the Government from any source shall deposit the money in the Treasury as soon as practicable without deduction for any charge or claim. (c)(1) A person having custody or possession of public money, including a disbursing official having public money not for current expendi- ture, shall deposit the money without delay in the Treasury or with a depositary designated by the Secretary of the Treasury under law. Except as provided in paragraph (2), money required to be deposited pursuant to this subsection shall be deposited not later than the third day after the custodian receives the money. The Secretary or a depositary receiving a deposit shall issue du- plicate receipts for the money deposited. The original receipt is for the Secretary and the du- plicate is for the custodian. (2) The Secretary of the Treasury may by reg- ulation prescribe that a person having custody or possession of money required by this sub- section to be deposited shall deposit such money during a period of time that is greater or lesser than the period of time specified by the second sentence of paragraph (1). (d) An official or agent not complying with subsection (b) of this section may be removed from office. The official or agent may be re- quired to forfeit to the Government any part of the money held by the official or agent and to which the official or agent may be entitled. (e) An official or agent of the Government having custody or possession of public money shall keep an accurate entry of each amount of public money received, transferred, and paid. (f) When authorized by the Secretary, an offi- cial or agent of the Government having custody or possession of public money, or performing other fiscal agent services, may be allowed nec- essary expenses to collect, keep, transfer, and pay out public money and to perform those serv- ices. However, money appropriated for those ex- penses may not be used to employ or pay offi- cers and employees of the Government. (Pub. L. 97–258, Sept. 13, 1982, 96 Stat. 948; Pub. L. 97–452, § 1(10), Jan. 12, 1983, 96 Stat. 2468; Pub. L. 98–369, div. B, title VI, § 2652(b)(1), July 18, 1984, 98 Stat. 1152; Pub. L. 103–272, § 4(f)(1)(H), July 5, 1994, 108 Stat. 1362; Pub. L. 103–429, § 7(a)(3)(A), Oct. 31, 1994, 108 Stat. 4388.) HISTORICAL AND REVISION NOTES 1982 ACT Revised Section Source (U.S. Code) Source (Statutes at Large) 3302(a) ..... 31:521. R.S. § 3639; June 6, 1972, Pub. L. 92–310, § 231(r), 86 Stat. 210. 3302(b) ..... 31:484. R.S. § 3617. 3302(c) ..... 31:495. R.S. § 3621; restated May 28, 1896, ch. 252, § 5, 29 Stat. 179. 3302(d) ..... 31:490. R.S. § 3619. 3302(e) ..... 31:525. R.S. § 3643. 3302(f) ..... 31:545. R.S. § 3653; Aug. 7, 1882, ch. 433, § 1(2d complete par. on p. 312), 22 Stat. 312; Jan. 22, 1925, ch. 87(2d par. under heading ‘‘Division of Book- keeping and Warrants’’), 43 Stat. 767. 31:1023(b). June 1, 1955, ch. 119, § 1(b), 69 Stat. 82. In subsection (a), before clause (1), the words ‘‘Except as provided by another law’’ are substituted for ‘‘than as specially allowed by law’’ in 31:521 for clarity and consistency. The words ‘‘an official or agent of the United States Government having custody or posses- sion of public money’’ are substituted for ‘‘The Treas- urer of the United States, all assistant treasurers [sub- sequently changed to ‘all depositaries designated in ac- cordance with section 476 of this title’ because of 31:476], and those performing the duties of assistant treasurer, all collectors of the customs, all surveyors of the customs, acting also as collectors, all receivers of public moneys at the several land offices, all post- masters, and all public officers of whatsoever character . . . all the public money collected by them, or other- wise at any time placed in their possession and cus- tody’’ to eliminate unnecessary words and for consist- ency in the revised title. The words ‘‘till the same is or- dered, by the proper department or officer of the Gov- ernment, to be transferred or paid out’’ are omitted as superseded by source provisions restated in the chap- ter. The text of 31:521(words after semicolon) is omitted as unnecessary because of the restatement. In subsection (b), the words ‘‘any abatement or’’ are omitted as surplus. The words ‘‘for any charge or claim’’ are substituted for ‘‘on account of salary, fees, costs, charges, expenses, or claim of any description whatever’’, and the words ‘‘shall deposit the money in the Treasury’’ are substituted for ‘‘The gross amount of all moneys received from whatever source for the use of the United States, . . . shall be paid . . . into the Treas- ury’’, to eliminate unnecessary words. The words ‘‘ex- cept as otherwise provided in section 487 of this title’’ are omitted because 31:487 is obsolete. The text of 31:484(last sentence) is omitted as superseded by title 39. In subsection (c), the word ‘‘Secretary’’ is substituted for ‘‘Treasurer’’ because of the source provisions re- stated in section 321(c) of the revised title. The balance of subsection (c) is substituted for 31:495(words before proviso) for clarity and consistency. The text of 31:495(proviso) is omitted as superseded by title 39. Subsection (d) is substituted for 31:490 for clarity and consistency. In subsection (e), the words ‘‘official or agent having custody or possession of public money’’ are substituted for ‘‘persons charged by law with the safekeeping, transfer, and disbursements of the public moneys’’ for consistency and to eliminate unnecessary words. The words ‘‘other than those connected with the United States Postal Service’’ are omitted as superseded by title 39. In subsection (f), the word ‘‘expressly’’ is omitted as surplus. The words ‘‘official or agent having custody or possession’’ are substituted for 31:545(words before 21st comma) for consistency and to eliminate unnecessary words. The words ‘‘additional . . . fireproof of chests or vaults or other necessary expenses of’’ are omitted as surplus. The words ‘‘employ or pay officers and employ- ees of the Government’’ are substituted for ‘‘clerical services or payment of employees of any nature or Page 235 TITLE 31—MONEY AND FINANCE § 3305 grade’’ for consistency in the revised title and with other titles of the United States Code. 1983 ACT Revised Section Source (U.S. Code) Source (Statutes at Large) 3302(b) ..... 31 App.:484. Oct. 25, 1982, Pub. L. 97–365, § 13(a), 96 Stat. 1757. The reference to ‘‘952(g)(2)’’ in 31 App.:484 is incorrect and should be ‘‘952(f)(2)’’. 1984 ACT (PUB. L. 98–216) Section 3618 (1st sentence related to non-military de- posits) of the Revised Statutes inadvertently was omit- ted as a source credit for 31:3302. Table 2A of H. Rep. 97–651 (p. 298) states that the sentence was omitted as superseded by various sections of title 10. Title 10 su- persedes the sentence only as it applies to military de- posits. However, the language of section 3618 (1st sen- tence related to non-military deposits) is subsumed in the broader language of section 3617 of the Revised Statutes, the source credit for 31:3302(b). Therefore, while section 3618 (1st sentence related to non-military deposits) should be a source credit for 31:3302(b), it is not necessary that the language of the sentence be re- stated. Editorial Notes REFERENCES IN TEXT Section 3718(b) of this title, referred to in subsec. (b), was redesignated section 3718(d) of this title by Pub. L. 99–578, § 1(1), Oct. 28, 1986, 100 Stat. 3305. AMENDMENTS 1994—Subsec. (c)(1). Pub. L. 103–272, as amended by Pub. L. 103–429, substituted a period for a comma at end of second sentence. 1984—Subsec. (c). Pub. L. 98–369 designated existing provisions as par. (1), struck out ‘‘, but not later than the 30th day after the custodian receives the money,’’ after ‘‘without delay’’ in first sentence, inserted after first sentence ‘‘Except as provided in paragraph (2), money required to be deposited pursuant to this sub- section shall be deposited not later than the third day after the custodian receives the money,’’, and added par. (2). 1983—Subsec. (b). Pub. L. 97–452 inserted exception re- lating to section 3718(b) of this title. Statutory Notes and Related Subsidiaries EFFECTIVE DATE OF 1994 AMENDMENT Pub. L. 103–429, § 7(a), Oct. 31, 1994, 108 Stat. 4388, pro- vided that the amendment made by that section is ef- fective July 5, 1994. EFFECTIVE DATE OF 1984 AMENDMENT Pub. L. 98–369, div. B, title VI, § 2652(b)(2), July 18, 1984, 98 Stat. 1153, provided that: ‘‘The amendments made by this subsection [amending this section] shall become effective January 1, 1985.’’ § 3303. Designation of depositaries (a) The Secretary of the Treasury designates depositaries of money as provided in this section and under other law. (b) When necessary to carry out the business of the United States Government and under con- ditions the Secretary decides are necessary, the Secretary may designate depositaries in foreign countries and in territories and possessions of the United States to receive deposits of public money. The Secretary shall give preference to United States financial institutions the Sec- retary decides are safe and able to give the serv- ice required. (Pub. L. 97–258, Sept. 13, 1982, 96 Stat. 949.) HISTORICAL AND REVISION NOTES Revised Section Source (U.S. Code) Source (Statutes at Large) 3303(a) ..... (no source). 3303(b) ..... 31:473. June 19, 1922, ch. 228, 42 Stat. 662. Subsection (a) is added to inform the reader that there are numerous other laws providing for the des- ignation of depositaries. These other laws are scattered throughout the titles of the United States Code. In subsection (b), the words ‘‘carry out’’ are sub- stituted for ‘‘transaction’’ for consistency. The words ‘‘terms and . . . as to security and otherwise’’ and ‘‘of public moneys’’ are omitted as surplus. The words ‘‘ter- ritories and possessions of the United States’’ are sub- stituted for ‘‘Territories and insular possessions of the United States’’ for consistency. The words ‘‘to receive deposits of public money’’ are added for clarity. § 3304. Transfers of public money from deposi- taries The Secretary of the Treasury may transfer public money in the possession of a depositary— (1) to the Treasury; and (2) if the Secretary believes the safety of the public money and convenience require it, to another depositary. (Pub. L. 97–258, Sept. 13, 1982, 96 Stat. 949.) HISTORICAL AND REVISION NOTES Revised Section Source (U.S. Code) Source (Statutes at Large) 3304 ......... 31:522. R.S. § 3640. In the section, before clause (1), the words ‘‘except as provided in section 523 of this title’’ are omitted as su- perseded by title 39. The words ‘‘of the United States, to the credit of the Treasurer’’ are omitted as unneces- sary. In clause (2), the words ‘‘if the Secretary believes the safety of the public money and convenience require it’’ are substituted for ‘‘as the safety of the public mon- eys and the convenience of the public service shall seem to him to require’’ for clarity and to eliminate unnecessary words. § 3305. Audits of depositaries The Secretary of the Treasury, or an officer, employee, or agent designated by the Secretary, may audit a depositary of public money. For uniformity and accuracy in accounts and safety of public money, an individual conducting an audit shall audit a depositary’s— (1) books; (2) accounts; (3) returns; and (4) public money on hand and the way the money is kept. (Pub. L. 97–258, Sept. 13, 1982, 96 Stat. 949.) HISTORICAL AND REVISION NOTES Revised Section Source (U.S. Code) Source (Statutes at Large) 3305 ......... 31:548. R.S. § 3649. In the section, before clause (1), the words ‘‘or an offi- cer, employee, or agent designated by the Secretary’’ are substituted for ‘‘and for that purpose to appoint