38 U.S.C. § 5508 — Periodic onsite reviews of institutional fiduciaries
submitted 22 years ago by Pub. L. 108-454 to r/title-38-VETERANS-BENEFITS · 104 words · no verdicts yet
The Secretary must periodically review onsite any person or agency in the United States serving as a fiduciary for another individual. This applies when the fiduciary serves more than 20 beneficiaries and the total annual benefits exceed $50,000, adjusted under section 5312.
Besides other reviews, the Secretary* must provide for periodic onsite reviews of a United States person or agency that receives benefits for another person as a section 5502(a)(1) fiduciary*, when that fiduciary serves more than 20 beneficiaries and the benefits total more than $50,000 per year, adjusted under section 5312.
In addition to such other reviews of fiduciaries as the Secretary* may otherwise conduct, the Secretary shall provide for the periodic onsite review of any person or agency located in the United States that receives the benefits payable under laws administered by the Secretary to another individual pursuant to the appointment of such person or agency as a fiduciary* under section 5502(a)(1) of this title in any case in which the fiduciary is serving in that capacity with respect to more than 20 beneficiaries and the total annual amount of such benefits exceeds $50,000, as adjusted pursuant to section 5312 of this title.
Source credit: (Added Pub. L. 108–454, title V, § 504(a)(1), Dec. 10, 2004, 118 Stat. 3620.)
- 2004Enacted · Pub. L. 108-454 · 118 Stat. 3620
A history note hasn’t been published yet. The record shows enactment by Pub. L. 108-454 on 2004-12-10.
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