Page:United States Statutes at Large Volume 100 Part 1.djvu/299

 PUBLIC LAW 99-272—APR. 7, 1986

100 STAT. 263

(1) ACTIONS AGAINST THE CORPORATION.—Section 4003(f) (29

U.S.C. 1303(f)) is amended to read as follows: "(f)(1) Except with respect to withdrawal liability disputes under part 1 of subtitle E, any person who is a fiduciary, employer, contributing sponsor, member of a contributing sponsor's controlled group, participant, or beneficiary, and is adversely affected by any action of the corporation with respect to a plan in which such person has an interest, or who is an employee organization representing such a participant or beneficiary so adversely affected for purposes of collective bargaining with respect to such plan, may bring an action against the corporation for appropriate equitable relief in the appropriate court. "(2) For purposes of this subsection, the term 'appropriate court' means— "(A) the United States district court before which proceedings under section 4041 or 4042 are being conducted. "(B) if no such proceedings are being conducted, the United States district court for the judicial district in which the plan has its principal office, or "(C) the United States District Court for the District of Columbia. "(3) In any action brought under this subsection, the court may award all or a portion of the costs and expenses incurred in connection with such action to any party who prevails or substantially prevails in such action. "(4) This subsection shall be the exclusive means for bringing actions against the corporation under this title, including actions against the corporation in its capacity as a trustee under section 4042 or 4049. "(5)(A) Except as provided in subparagraph (C), an action under this subsection may not be brought after the later of— "(i) 6 years after the date on which the cause of action arose, or "(ii) 3 years after the applicable date specified in subparagraph (B). "(B)(i) Except as provided in clause (ii), the applicable date specified in this subparagraph is the earliest date on which the plaintiff acquired or should have acquired actual knowledge of the existence of such cause of action. "(ii) In the case of a plaintiff who is a fiduciary bringing the action m the exercise of fiduciary duties, the applicable date specified in this subparagraph is the date on which the plaintiff became a fiduciary with respect to the plan if such date is later than the date specified in clause (i). "(C) In the case of fraud or concealment, the period described in subparagraph (A)(ii) shall be extended to 6 years after the applicable date specified in subparagraph (B). "(6) The district courts of the United States have jurisdiction of actions brought under this subsection without regard to the amount in controversy. "(7) In any suit, action, or proceeding in which the corporation is a party, or intervenes under section 4301, in any State court, the corporation may, without bond or security, remove such suit, action, or proceeding from the State court to the United States district court for the district or division in which such suit, action, or proceeding is pending by following any procedure for removal now or hereafter in effect.'.

Ante, pp. 244, 253.

Ante, p. 258.

29 USC 1451.

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