Sec. 1242. fiscal intermediaries and servicing agents

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## Sec. 1242 fiscal intermediaries and servicing agents **[**[12 U.S.C. 1749bbb–12](/us/usc/t12/s1749bbb–12)**]** ###

(a)In order to provide for maximum efficiency in the administration of the reinsurance and direct insurance programs under this title, 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 of 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 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 bonds 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.

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12 USC 1749bbb–12

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Sec. 1242

fiscal intermediaries and servicing agents

Cite12 USC 1749bbb–12

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