8 U.S.C. § 1363 : US Code - Section 1363: Deposit of and interest on cash received to secure immigration bonds

Search 8 U.S.C. § 1363 : US Code - Section 1363: Deposit of and interest on cash received to secure immigration bonds

(a) Cash received by the Attorney General as security on an
immigration bond shall be deposited in the Treasury of the United
States in trust for the obligor on the bond, and shall bear
interest payable at a rate determined by the Secretary of the
Treasury, except that in no case shall the interest rate exceed 3
per centum per annum. Such interest shall accrue from date of
deposit occurring after April 27, 1966, to and including date of
withdrawal or date of breach of the immigration bond, whichever
occurs first: Provided, That cash received by the Attorney General
as security on an immigration bond, and deposited by him in the
postal savings system prior to discontinuance of the system, shall
accrue interest as provided in this section from the date such cash
ceased to accrue interest under the system. Appropriations to the
Treasury Department for interest on uninvested funds shall be
available for payment of said interest.
(b) The interest accruing on cash received by the Attorney
General as security on an immigration bond shall be subject to the
same disposition as prescribed for the principal cash, except that
interest accruing to the date of breach of the immigration bond
shall be paid to the obligor on the bond.