Page:United States Statutes at Large Volume 108 Part 2.djvu/455

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PUBLIC LAW 103-272—JULY 5, 1994 108 STAT. 1171 received in carrying out this chapter shall be deposited in the fund. (b) I^^VESTMENT. —On request of the Secretary of Transportation, the Secretary of the Treasury may invest any part of the amounts in the revolving fund in interest-bearing securities of the United States Government. The interest on, and the proceeds from the sale or redemption of, the securities shall be deposited in the fund. (c) EXCESS AMOUNTS.— The balance in the revolving fund in excess of an amount the Secretary of Transportation determines is necessary for the requirements of the fund and for reasonable reserves to maintain the solvency of the fund shall be deposited at least annually in the Treasury as miscellaneous receipts. (d) EXPENSES.— The Secretary of Transportation shall deposit annually an amount in the Treasury as miscellaneous receipts to cover the expenses the Government incurs when the Secretary of Transportation uses appropriated amounts in carrying out this chapter. The deposited amount shall equal an amount determined by multiplying the average monthly balance of appropriated amounts retained in the revolving fund by a percentage that is at least the current average rate payable on marketable obligations of the Government. The Secretary of the Treasury shall determine annually in advance the percentage applied. §44308. Administrative (a) COMMERCIAL Pit\CTiCES. —The Secretary of Transportation may carry out this chapter consistent with commercial practices of the aviation insurance business. (b) ISSUANCE OF POLICIES AND DISPOSITION OF CLAIMS.—(1) The Secretary may issue insurance policies to carry out this chapter. The Secretary may prescribe the forms, amounts insured under the policies, and premiums charged. The Secretary may change an amount of insurance or a premium for an existing policy only with the consent of the insured. (2) For a claim under insurance authorized by this chapter, " the Secretary may— (A) settle and pay the claim made for or against the United States Government; and (B) pay the amount of a judgment entered against the Government. (c) UNDERWRITING AGENT.—(1) The Secretary may, and when practical shall, employ an insurance carrier or group of insurance . - carriers to act as an underwriting agent. The Secretary may use the agent to adjust claims under this chapter, but claims may be paid only when approved by the Secretary. (2) The Secretary may pay reasonable compensation to an - underwriting agent for servicing insurance the agent writes for the Secretary. Compensation may include payment for reasonable • " expenses incurred by the agent but may not include a payment by the agent for stimulation or solicitation of insurance business. (3) Except as provided by this subsection, the Secretary may - • not pay an insurance broker or other person acting in a similar.; capacity any consideration for arranging insurance when the Sec- - ^* retary directly insures any part of the risk. (d) BUDGET.— The Secretary shall submit annually a budget program for carrying out this chapter as provided for wholly owned

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Government corporations under chapter 91 of title 31.