2010 US Code
Title 5 - GOVERNMENT ORGANIZATION AND EMPLOYEES
PART III - EMPLOYEES
Subpart G - Insurance and Annuities
CHAPTER 84 - FEDERAL EMPLOYEES’ RETIREMENT SYSTEM
SUBCHAPTER VII - FEDERAL RETIREMENT THRIFT INVESTMENT MANAGEMENT SYSTEM
Sec. 8479 - Exculpatory provisions; insurance
View Metadata| Publication Title | United States Code, 2006 Edition, Supplement 4, Title 5 - GOVERNMENT ORGANIZATION AND EMPLOYEES |
| Category | Bills and Statutes |
| Collection | United States Code |
| SuDoc Class Number | Y 1.2/5: |
| Contained Within | Title 5 - GOVERNMENT ORGANIZATION AND EMPLOYEES PART III - EMPLOYEES Subpart G - Insurance and Annuities CHAPTER 84 - FEDERAL EMPLOYEES’ RETIREMENT SYSTEM SUBCHAPTER VII - FEDERAL RETIREMENT THRIFT INVESTMENT MANAGEMENT SYSTEM Sec. 8479 - Exculpatory provisions; insurance |
| Contains | section 8479 |
| Date | 2010 |
| Laws in Effect as of Date | January 7, 2011 |
| Positive Law | Yes |
| Disposition | standard |
| Source Credit | Added Pub. L. 99-335, title I, §101(a), June 6, 1986, 100 Stat. 588. |
| Statutes at Large Reference | 100 Stat. 588 |
| Public Law Reference | Public Law 99-335 |
§8479. Exculpatory provisions; insurance
(a) Any provision in an agreement or instrument which purports to relieve a fiduciary from responsibility or liability for any responsibility, obligation, or duty under this subchapter shall be void.
(b)(1) The Executive Director may require employing agencies to contribute an amount not to exceed 1 percent of the amount such agencies are required to contribute in accordance with section 8432(c) of this title to the Thrift Savings Fund.
(2) The sums credited to the Thrift Savings Fund under paragraph (1) shall be available and may be used at the discretion of the Executive Director to purchase insurance to cover potential liability of persons who serve in a fiduciary capacity with respect to the Thrift Savings Fund, without regard to whether a policy of insurance permits recourse by the insurer against the fiduciary in the case of a breach of a fiduciary obligation.
(Added Pub. L. 99–335, title I, §101(a), June 6, 1986, 100 Stat. 588.)
Disclaimer: These codes may not be the most recent version. The United States Government Printing Office may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the US site. Please check official sources.
