12 U.S.C. § 1749bbb-12
Section 1749bbb-12 · Fiscal intermediaries and servicing agents
Amended 4 times on record
(a) In order to provide for maximum efficiency in the administration of the reinsurance and direct insurance programs under this subchapter, and in order to facilitate the expeditious payment of any funds under such program, the Director may enter into contracts with any insurer, pool, 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 or direct insurance claims;
(2) receiving and disbursing and accounting for funds in making payments for reinsurance or direct insurance 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 or direct insurance payments, including the total amount of proved and approved claims which may be payable to any insurer or property owner, and the total amount of premiums earned by any insurer in the respective States for reinsured or directly insured lines of property insurance; and
(5) otherwise assisting in any manner provided in the contract to further the purposes of this subchapter.
(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 Director 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.
Editorial notes U.S. Code · Office of the Law Revision Counsel
Amendments
1983—Subsecs. (a), (b)(1). Pub. L. 98–181 substituted “Director” for “Secretary”.
1970—Subsec. (a). Pub. L. 91–609, §602(i), provided for: administration of direct insurance in introductory text, payments for direct insurance claims in pars. (1) and (2), and liability for direct insurance payments, payment of claims to any property owner, and premium for directly insured lines of property insurance in par. (4).