Title 25 — IndiansRelease 119-73
§1545 Livestock loans; cash settlements
Title 25 › Chapter CHAPTER 17— - FINANCING ECONOMIC DEVELOPMENT OF INDIANS AND INDIAN ORGANIZATIONS › Subchapter SUBCHAPTER V— - MISCELLANEOUS PROVISIONS › § 1545
Summary
Approves cash payments and sales or relending for livestock the U.S. lent to any Indian or Indian group. Starting May 24, 1950, the value used for those payments must follow local market prices set by a three‑member committee: one chosen by the superintendent, one by the tribal chair, and the two pick the third.
Full Legal Text
Title 25, §1545
Indians — Source: USLM XML via OLRC
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 authorized and ratified: Provided, That on and after May 24, 1950, 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.
Legislative History
Notes & Related Subsidiaries
Editorial Notes
Codification Section was enacted as part of act May 24, 1950, ch. 197, and not as part of the Indian Financing Act of 1974 which comprises this chapter. Section was formerly classified to section 442 of this title prior to editorial reclassification and renumbering as this section.
Reference
Citations & Metadata
Citation
25 U.S.C. § 1545
Title 25 — Indians
Last Updated
Apr 6, 2026
Release point: 119-73