Page:United States Statutes at Large Volume 106 Part 3.djvu/213

 PUBLIC LAW 102-408—OCT. 13, 1992 106 STAT. 2007 amounts made available under the preceding sentence are in addition to amounts made available to the Health Resources and Services Administration for program management for the fiscal year involved. With respect to such employment positions, the positions are in addition to the number of mil-time equivalent employment positions that otherwise is authorized for the Department of Health and Human Services for the fiscal year involved. "SEC. 710. INSURANCE ACCOUNT. 42 USC 292i. "(a) IN GENERAL. — " (1) ESTABLISHMENT. —There is hereby established a student loan insurance account (in this section referred to as the 'Account') which shall be available without fiscal year limitation to the Secretary for making payments in connection with the collection and default of loans insured under this subpart by the Secretary. "(2) FUNDING. — "(A) Except as provided in subparagraph (B), all amounts received by the Secretary as premium charges for insurance and as receipts, earnings, or proceeds derived from any claim or other assets acquired by the Secretary in connection with his operations under this subpart, and any other moneys, property, or assets derived by the Secretary from the operations of the Secretary in connection with this section, snail be deposited in the Account. "(B) With respect to amounts described in subparagraph (A) that are received by the Secretary for any of the fiscal years 1993 through 1996, the Secretary may, before depositing such amounts in the Account, reserve from the amounts each such fiscal year not more than $1,000,000 for obligation under section 709(d). " (3) EXPENDITURES.—All pa3anents in connection with the default of loans insured by the Secretary under this subpart shall be paid from the Account. "(b) CONTINGENT AUTHORITY FOR ISSUANCE OF NOTES OR OTHER OBLIGATIONS. —If at any time the moneys in the Account are insufficient to make payments in connection with the collection or default of any loan insured by the Secretary under this subpart, the Secretary of the Treasury may lend the Account such amounts as may be necessary to make the payments involved, subject to the Federal Credit Reform Act of 1990. "SEC. 711. POWERS AND RESPONSmiLITIES OF SECRETARY. 42 USC 292j. "(a) IN GENERAL. —In the performance of, and with respect Regulations. to, the functions, powers, and duties vested in the Secretary by this subpart, the Secretary is authorized as follows: "(1) To prescribe such regulations as may be necessary to carry out the purposes of this subpart. "(2) To sue and be sued in any (tistrict court of the United States. Such district courts shall have jurisdiction of civil actions arising under this subpart without regard to the amount in controversy, and any action instituted under this subsection by or against the Secretary shall survive notwithstanding any change in the person occupying the office of Secretary or any vacancy in that office. No attachment, injunction, garnishment, or other similar process, mesne or final, shall be issued against the Secretary or property under the control of the Secretary. Nothing herein shall be constructed to except litigation arising

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