Public Law No. 19-67.
Country
Type of law
Legislation
Abstract
This Act amends Title 55 of the Code of the Federated States of Micronesia with respect to the Trust Fund of the FSM. It provides for restructuring of the Fund and divides the Fund into Account A and Account B. The purpose of the Account A and Account B portion of the Fund is to create a disciplined approach to ensure the protection of the Fund’s Real Value into perpetuity while providing a sustainable source to supplement the needs of the General Fund. All contributions to the Fund shall be deposited in Account A. Account B shall serve as a back-up account for Account A.
Attached files
Web site
Long title of text
An Act to amend sections 1202, 1204, 1211, 1213, 1214, 1215, 1216, 1217 and 1222 of title 55 of the Code of the Federated States of Micronesia (Annotated), as amended by Public Laws Nos. 18-74 and 18-119, to update and improve the functionality of the FSM Trust Fund, and for other purposes.
Date of text
Repealed
No
Source language
English
Legislation Amendment
No