Public Law No. 13-48

CBL 13-128 THIRTEENTH CONGRESS OF THE FEDERATED STATES OF MICRONESIA THIRD REGULAR SESSION, 2004 CONGRESSIONAL BILL NO. 13-118 PUBLIC LAW NO. 13-48 AN ACT To further amend title 55 of the Code of the Federated States of Micronesia, as amended, by amending chapter 12 thereof, and for other purposes. BE IT ENACTED BY THE CONGRESS OF THE FEDERATED STATES OF MICRONESIA: Section 1. Chapter 12 of title 55 of the Code of the 1 Federated States of Micronesia, as amended, is hereby further 2 amended by enacting a new section 1222 to read as follows: 3 "Section 1222. Fund Transfer. 4 Notwithstanding any other provision of this chapter 12, 5 in the event that no Trust Fund Board has been appointed 6 as of the date that a trust fund for the FSM is 7 established pursuant to the Compact of Free Association, 8 as amended (referred to hereafter in this section as the 9 'Compact Trust Fund'), funds previously appropriated for 10 the FSM Trust Fund, including any sub-accounts thereof, 11 may, by action of the allottee of such funds, be allotted 12 for, and deposited into, the Compact Trust Fund." 13 14 15 16 17 18 19 20 21 CONGRESSIONAL BILL NO. 13-118 PUBLIC LAW NO. 13-48 2 of 2 Section 2. This act shall become law upon approval by the 1 President of the Federated States of Micronesia or upon its 2 becoming law without such approval. 3 4 5 6 September 23, 2004 7 8 9 10 11 /s/ Joseph J. Urusemal 12 Joseph J. Urusemal President 13 Federated States of Micronesia 14 15 16 17 18 19 20 21 22 23 24 25