§ 6106. Misuse of benefits by fiduciaries
280 words·~1 min read·
/usc/title-38/section-6106A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)Fee Forfeiture in Case of Benefit Misuse by Fiduciaries.— A fiduciary may not collect a fee from a beneficiary for any month with respect to which the Secretary or a court of competent jurisdiction has determined that the fiduciary misused all or part of the individual’s benefit, and any amount so collected by the fiduciary as a fee for such month shall be treated as a misused part of the individual’s benefit.
(b)Misuse of Benefits Defined.— For purposes of this chapter, misuse of benefits by a fiduciary occurs in any case in which the fiduciary receives payment, under any of laws administered by the Secretary, for the use and benefit of a beneficiary and uses such payment, or any part thereof, for a use other than for the use and benefit of such beneficiary or that beneficiary’s dependents. Retention by a fiduciary of an amount of a benefit payment as a fiduciary fee or commission, or as attorney’s fees (including expenses) and court costs, if authorized by the Secretary or a court of competent jurisdiction, shall be considered to be for the use or benefit of such beneficiary.
(c)Regulations.— The Secretary may prescribe by regulation the meaning of the term “use and benefit” for purposes of this section.
(Added Pub. L. 108–454, title V, § 503(a)(1), Dec. 10, 2004, 118 Stat. 3619.)
Connections2 cite this · traces to 1
Cited by 2 sections · top 1
register
Traces to 1 document
3 references not yet in our index
- Pub. L. 108–454, title V, § 503(a)(1)
- 118 Stat. 3619
- section 507(b)(2) of Pub. L. 108–454
Citation graph
cites case law
§ 6106
Misuse of benefits by fiduciaries
Fed. Reg.×2
Pub. L.Pub. L. 108–454, title V, § 503(a)(1)
Stat.118 Stat. 3619
Pub. L.section 507(b)(2) of Pub. L. 108–454
Cites 4Cited by 2 across 1 source