Page:United States Statutes at Large Volume 118.djvu/3648

 118 STAT. 3618 PUBLIC LAW 108–454—DEC. 10, 2004 (2) in subsection (b), by striking ‘‘guardian, curator, conser- vator, or other person’’ each place it appears and inserting ‘‘fiduciary’’; and (3) in subsection (d), by striking ‘‘guardian, curator, or conservator’’ and inserting ‘‘fiduciary’’. (c) CONFORMING AMENDMENT TO SECTION 6101.—Section 6101(a) is amended by striking ‘‘guardian, curator,’’ and all that follows through ‘‘beneficiary,’’ and inserting ‘‘fiduciary (as defined in section 5506 of this title) for the benefit of a minor, incompetent, or other beneficiary under laws administered by the Secretary,’’. SEC. 502. INQUIRY, INVESTIGATIONS, AND QUALIFICATION OF FIDU- CIARIES. (a) IN GENERAL.—Chapter 55, as amended by section 501(a)(1), is further amended by adding at the end the following new section: ‘‘§ 5507. Inquiry, investigations, and qualification of fidu- ciaries ‘‘(a) Any certification of a person for payment of benefits of a beneficiary to that person as such beneficiary’s fiduciary under section 5502 of this title shall be made on the basis of— ‘‘(1) an inquiry or investigation by the Secretary of the fitness of that person to serve as fiduciary for that beneficiary, such inquiry or investigation— ‘‘(A) to be conducted in advance of such certification; ‘‘(B) to the extent practicable, to include a face-to- face interview with such person; and ‘‘(C) to the extent practicable, to include a copy of a credit report for such person issued within one year of the date of the proposed appointment; ‘‘(2) adequate evidence that certification of that person as fiduciary for that beneficiary is in the interest of such beneficiary (as determined by the Secretary under regulations); and ‘‘(3) the furnishing of any bond that may be required by the Secretary. ‘‘(b) As part of any inquiry or investigation of any person under subsection (a), the Secretary shall request information con- cerning whether that person has been convicted of any offense under Federal or State law which resulted in imprisonment for more than one year. If that person has been convicted of such an offense, the Secretary may certify the person as a fiduciary only if the Secretary finds that the person is an appropriate person to act as fiduciary for the beneficiary concerned under the cir- cumstances. ‘‘(c)(1) In the case of a proposed fiduciary described in paragraph (2), the Secretary, in conducting an inquiry or investigation under subsection (a)(1), may carry out such inquiry or investigation on an expedited basis that may include waiver of any specific require- ment relating to such inquiry or investigation, including the other- wise applicable provisions of subparagraphs (A), (B), and (C) of such subsection. Any such inquiry or investigation carried out on such an expedited basis shall be carried out under regulations prescribed for purposes of this section. ‘‘(2) Paragraph (1) applies with respect to a proposed fiduciary who is— Applicability. VerDate 11-MAY-2000 13:54 Nov 10, 2005 Jkt 029194 PO 00000 Frm 00152 Fmt 6580 Sfmt 6581 C:\STATUTES\2004\29194PT4.001 APPS10 PsN: 29194PT4

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