Page:United States Statutes at Large Volume 82.djvu/606

 564

PUBLIC LAW 90-448-AUG. 1, 1968

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[82 STAT.

or other person, for the purpose of providing for the performance of any or all of the following functions: "(1) estimating or determining any amounts of payments for reinsurance claims; " (2) receiving and disbursing and accounting for funds in making payments for reinsurance claims; "(3) auditing the records of any insurer, pool, or other person to the extent necessary to assure that proper payments are made; "(4) establishing the basis of liability for reinsurance payments, including the total amount of proved and approved claims which may be payable to any insurer, and the total amount of premiums earned by any insurer in the respective States for reinsured lines of property insurance; and " (5) otherwise assisting in any manner provided in the contract to further the purposes of this title. "(b)(1) Any such contract may require the insurer, pool, or other person, or any of its officers or employees certifying payments or disbursing funds pursuant to the contract, or otherwise participating in carrying out the contract, to give surety bond to the United States in such amounts as the Secretary may deem appropriate. "(2) In the absence of gross negligence or intent to defraud the United States— " (A) no individual designated pursuant to a contract under this section to certify payments shall be liable with respect to any payment certified by him under this section; and " (B) no officer of the United States disbursing funds shall be liable with respect to any otherwise proper payment by him if it was based on a voucher signed by an individual designated pursuant to a contract under this section to certify payments. a NATIONAL INSURANCE DEVELOPMENT F U N D

79- Stat. 472. • — -"•

12 USC i735d.

"SEC. 1233. (a) To carry out the programs authorized under this title, the Secretary is authorized to establish a National Insurance l>evelopment F u n d (hereinafter called the 'fund') which shall be available, without fiscal year limitations— "(1) to make such payments as may, from time to time, be required under reinsurance contracts under this title; "(2) to pay such administrative expenses as may be necessary or appropriate to carry out the purposes of this title; and "(3) to repay to the Secretary of the Treasury such sums, including interest thereon, as may be borrowed from" him for purposes of such programs under section 520(b). „ ^^^ r^^^ ^^^^^^ ^j^ J j ^^ Credited with— "(1) reinsurance premiums, fees, and other charges which may be paid or collected m connection with reinsurance provided under part B; " (2) interest which may be earned on investments of the fund; " (3) such amounts as may be advanced to the fund from appropriations in order to maintain the fund in an operative condition adequate to meet its liabilities; "(4) receipts from any other source which may, from time to time, be credited to the fund; and "(5) funds borrowed by the Secretary under section 520(b) and deposited in the fund. "(c) If, after any amounts which may have been advanced to the fund from appropriations have been credited to the appropriation from which advanced (including interest thereon at the rate prescribed under section 520(b)), the Secretary determines that the moneys of the fund are in excess of current needs, he may request the investment of such amounts as he deems advisable by the Secretary of the Treasury in obligations issued or guaranteed by tfie United States.

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