Loans for Senate Restaurants

2 U.S.C. § 2049
in effect
Sign in to generate a plain English summaryAsk Belisarius Agent
(a) Borrowing authoritySubject to the approval of the Senate Committee on Rules and Administration, the Architect of the Capitol shall have authority to borrow (and be accountable for), from time to time, from the appropriation account, within the contingent fund of the Senate, for “Miscellaneous Items”, such amount as he may determine necessary to carry out the provisions of the joint resolution entitled “Joint Resolution transferring the management of the Senate Restaurants to the Architect of the Capitol, and for other purposes”, approved July 6, 1961, as amended (40 U.S.C. 174j–1 through 174j–8) [2 U.S.C. 2042 et seq.],11 See References in Text note below. and resolutions of the Senate amendatory thereof or supplementary thereto. (b) Amount and period of loan; voucherAny such loan authorized pursuant to subsection (a) of this section shall be for such amount and for such period as the Senate Committee on Rules and Administration shall prescribe, and shall be made by the Secretary of the Senate to the Architect of the Capitol upon a voucher approved by the Chairman of the Senate Committee on Rules and Administration. (c) Deposit, credit, and future availability of proceeds from repaymentAll proceeds from the repayment of any such loan shall be deposited in the appropriation account, within the contingent fund of the Senate, for “Miscellaneous Items”, shall be credited to the fiscal year during which such loan was made, and shall thereafter be available for the same purposes for which the amount loaned was initially appropriated.

Starting a business? Corpus forms LLCs in all 50 states and DC.