
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 23, 2000]
[Document not affected by Public Laws enacted between
  January 23, 2000 and December 4, 2001]
[CITE: 42USC292i]

 
                 TITLE 42--THE PUBLIC HEALTH AND WELFARE
 
                    CHAPTER 6A--PUBLIC HEALTH SERVICE
 
               SUBCHAPTER V--HEALTH PROFESSIONS EDUCATION
 
                          Part A--Student Loans
 
    subpart i--insured health education assistance loans to graduate 
                                students
 
Sec. 292i. Insurance account


(a) In general

                          (1) Establishment

        There is hereby established a student loan insurance account (in 
    this section referred to as the ``Account'') which shall be 
    available without fiscal year limitation to the Secretary for making 
    payments in connection with the collection and default of loans 
    insured under this subpart by the Secretary.

                             (2) Funding

        (A) Except as provided in subparagraph (B), all amounts received 
    by the Secretary as premium charges for insurance and as receipts, 
    earnings, or proceeds derived from any claim or other assets 
    acquired by the Secretary in connection with his operations under 
    this subpart, and any other moneys, property, or assets derived by 
    the Secretary from the operations of the Secretary in connection 
    with this section, shall be deposited in the Account.
        (B) With respect to amounts described in subparagraph (A) that 
    are received by the Secretary for fiscal year 1993 and subsequent 
    fiscal years, the Secretary may, before depositing such amounts in 
    the Account, reserve from the amounts each such fiscal year not more 
    than $1,000,000 for obligation under section 292h(d) of this title.

                          (3) Expenditures

        All payments in connection with the default of loans insured by 
    the Secretary under this subpart shall be paid from the Account.

(b) Contingent authority for issuance of notes or other obligations

    If at any time the moneys in the Account are insufficient to make 
payments in connection with the collection or default of any loan 
insured by the Secretary under this subpart, the Secretary of the 
Treasury may lend the Account such amounts as may be necessary to make 
the payments involved, subject to the Federal Credit Reform Act of 1990 
[2 U.S.C. 661 et seq.].

(July 1, 1944, ch. 373, title VII, Sec. 710, as added Pub. L. 102-408, 
title I, Sec. 102, Oct. 13, 1992, 106 Stat. 2007; amended Pub. L. 105-
392, title I, Sec. 143, Nov. 13, 1998, 112 Stat. 3581.)

                       References in Text

    The Federal Credit Reform Act of 1990, referred to in subsec. (b), 
is title V of Pub. L. 93-344, as added by Pub. L. 101-508, title XIII, 
Sec. 13201(a), Nov. 5, 1990, 104 Stat. 1388-609, which is classified 
generally to subchapter III (Sec. 661 et seq.) of chapter 17A of Title 
2, The Congress. For complete classification of this Act to the Code, 
see Short Title of 1990 Amendment note set out under section 621 of 
Title 2 and Tables.


                            Prior Provisions

    A prior section 292i, act July 1, 1944, ch. 373, title VII, 
Sec. 709, as added Oct. 12, 1976, Pub. L. 94-484, title II, Sec. 207, 90 
Stat. 2252; amended Nov. 9, 1978, Pub. L. 95-623, Sec. 12(b), 92 Stat. 
3457, related to shared schedule residency training positions, prior to 
repeal by Pub. L. 97-35, title XXVII, Sec. 2720(a), Aug. 13, 1981, 95 
Stat. 915.
    Another prior section 292i, act July 1, 1944, ch. 373, title VII, 
Sec. 710, as added July 30, 1956, ch. 779, Sec. 2, 70 Stat. 720; amended 
Sept. 24, 1963, Pub. L. 88-129, Sec. 2(a), 77 Stat. 164; Nov. 18, 1971, 
Pub. L. 92-157, title I, Sec. 102(k)(2)(A), 85 Stat. 437, related to 
preparation and submission of annual reports to the Congress through the 
President, including its contents, as to grants for construction of 
health research facilities, prior to repeal by Pub. L. 94-484, title II, 
Sec. 201(a), Oct. 12, 1976, 90 Stat. 2246.
    A prior section 710 of act July 1, 1944, was classified to section 
292k of this title prior to the general revision of this subchapter by 
Pub. L. 102-408.
    Another prior section 710 of act July 1, 1944, was renumbered 
section 709 by Pub. L. 97-35 and was classified to section 292j of this 
title prior to the general revision of this subchapter by Pub. L. 102-
408.


                               Amendments

    1998--Subsec. (a)(2)(B). Pub. L. 105-392 substituted ``fiscal year 
1993 and subsequent fiscal years'' for ``any of the fiscal years 1993 
through 1996''.

                  Section Referred to in Other Sections

    This section is referred to in sections 292f, 292h, 292m of this 
title; title 20 section 1078-3.
