Title 48, Territories and Insular PossessionsRelease 119-102
§1689 Plan for Use of Grant to Trust Territory of the Pacific Islands Economic Development Loan Fund; Loans; Terms
Title 48 › CHAPTER 14 — TRUST TERRITORY OF THE PACIFIC ISLANDS › § 1689
Summary
The section 1688 grant needs a plan from the Trust Territory that the Secretary of the Interior approves. The plan must create a revolving fund to make or guarantee private business loans, and any loan can last no more than 25 years.
Full Legal Text
Title 48, §1689
Territories and Insular Possessions, Source: USLM XML via OLRC
The grant authorized by section 1688 of this title shall be made only after the government of the Trust Territory of the Pacific Islands has submitted to the Secretary of the Interior a plan for the use of the grant, and the plan has been approved by the Secretary. The plan shall provide among other things for a revolving fund to make loans or to guarantee loans to private enterprise. The term of any loan made pursuant to the plan shall not exceed twenty-five years.
Reference
Citations & Metadata
Citation
48 U.S.C. § 1689
Title 48, Territories and Insular Possessions
Last Updated
Aug 21, 2026
Release point: 119-102