Page:United States Statutes at Large Volume 121.djvu/1801

 121 STAT. 1780

PUBLIC LAW 110–140—DEC. 19, 2007 ‘‘(1) SUBROGATION.—If the Administrator pays a claim under a guarantee issued under this section, it shall be subrogated fully to the rights satisfied by such payment. ‘‘(2) OWNERSHIP RIGHTS.—No Federal, State, or local law shall preclude or limit the exercise by the Administrator of its ownership rights in the debentures residing in a trust or pool against which trust certificates are issued under this section. ‘‘(f) MANAGEMENT AND ADMINISTRATION.— ‘‘(1) REGISTRATION.—The Administrator may provide for a central registration of all trust certificates issued under this section. ‘‘(2) CONTRACTING OF FUNCTIONS.— ‘‘(A) IN GENERAL.—The Administrator may contract with an agent or agents to carry out on behalf of the Administrator the pooling and the central registration functions provided for in this section, including, not withstanding any other provision of law— ‘‘(i) maintenance, on behalf of and under the direction of the Administrator, of such commercial bank accounts or investments in obligations of the United States as may be necessary to facilitate the creation of trusts or pools backed by debentures guaranteed under this part; and ‘‘(ii) the issuance of trust certificates to facilitate the creation of such trusts or pools. ‘‘(B) FIDELITY BOND OR INSURANCE REQUIREMENT.—Any agent performing functions on behalf of the Administrator under this paragraph shall provide a fidelity bond or insurance in such amounts as the Administrator determines to be necessary to fully protect the interests of the United States. ‘‘(3) REGULATION OF BROKERS AND DEALERS.—The Administrator may regulate brokers and dealers in trust certificates issued under this section. ‘‘(4) ELECTRONIC REGISTRATION.—Nothing in this subsection may be construed to prohibit the use of a book-entry or other electronic form of registration for trust certificates issued under this section.

15 USC 690f.

‘‘SEC. 387. FEES.

‘‘(a) IN GENERAL.—Except as provided in section 386(d), the Administrator may charge such fees as it determines appropriate with respect to any guarantee or grant issued under this part, in an amount established annually by the Administrator, as necessary to reduce to zero the cost (as defined in section 502 of the Federal Credit Reform Act of 1990) to the Administration of purchasing and guaranteeing debentures under this part, which amounts shall be paid to and retained by the Administration. ‘‘(b) OFFSET.—The Administrator may, as provided by section 388, offset fees charged and collected under subsection (a). 15 USC 690g.

‘‘SEC. 388. FEE CONTRIBUTION.

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‘‘(a) IN GENERAL.—To the extent that amounts are made available to the Administrator for the purpose of fee contributions, the Administrator shall contribute to fees paid by the Renewable Fuel Capital Investment companies under section 387.

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