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29 U.S.C. · Labor
29 U.S.C. § 1431

Assistance by corporation

Ch. 18 — EMPLOYEE RETIREMENT INCOME SECURITY PROGRAM
Title 29 U.S.C. ● ACTIVE Primary Source Ch. 18
Statutory Text

29 U.S.C. § 1431 — Assistance by corporation

U.S.C. Title 29 - LABOR 29 U.S.C. United States Code, 2023 Edition Title 29 - LABOR CHAPTER 18 - EMPLOYEE RETIREMENT INCOME SECURITY PROGRAM SUBCHAPTER III - PLAN TERMINATION INSURANCE Subtitle E - Special Provisions for Multiemployer Plans part 4 - financial assistance Sec. 1431 - Assistance by corporation From the U.S. Government Publishing Office, www.gpo.gov

§1431. Assistance by corporation

(a) Authority; procedure applicable; amount If, upon receipt of an application for financial assistance under section 1426(f) of this title or section 1441(d) of this title, the corporation verifies that the plan is or will be insolvent and unable to pay basic benefits when due, the corporation shall provide the plan financial assistance in an amount sufficient to enable the plan to pay basic benefits under the plan. (b) Conditions; repayment terms (1) Financial assistance shall be provided under such conditions as the corporation determines are equitable and are appropriate to prevent unreasonable loss to the corporation with respect to the plan. (2) A plan which has received financial assistance shall repay the amount of such assistance to the corporation on reasonable terms consistent with regulations prescribed by the corporation. (c) Assistance pending final determination of application Pending determination of the amount described in subsection (a), the corporation may provide financial assistance in such amounts as it considers appropriate in order to avoid undue hardship to plan participants and beneficiaries.

(Pub. L. 93–406, title IV, §4261, as added Pub. L. 96–364, title I, §104(2), Sept. 26, 1980, 94 Stat. 1261.)

Editorial Notes

Effective Date Part effective Sept. 26, 1980, except as specifically provided, see section 1461(e) of this title.

Source: uscode.house.gov — public domain Official Source ↗
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29 U.S.C. § 1431
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The statutory text of 29 U.S.C. § 1431 is reproduced from the official United States Code as published by the Office of the Law Revision Counsel of the U.S. House of Representatives (uscode.house.gov).
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Ch. 18 — EMPLOYEE RETIREMENT INCOME SECURITY PROGRAM
29 U.S.C. § 100129 U.S.C. § 1001a29 U.S.C. § 1001b29 U.S.C. § 100229 U.S.C. § 100329 U.S.C. § 102129 U.S.C. § 102229 U.S.C. § 102329 U.S.C. § 102429 U.S.C. § 102529 U.S.C. § 102629 U.S.C. § 102729 U.S.C. § 102829 U.S.C. § 102929 U.S.C. § 103029 U.S.C. § 1030a29 U.S.C. § 103129 U.S.C. § 103229 U.S.C. § 105129 U.S.C. § 105229 U.S.C. § 105329 U.S.C. § 105429 U.S.C. § 105529 U.S.C. § 105629 U.S.C. § 105729 U.S.C. § 105829 U.S.C. § 105929 U.S.C. § 106029 U.S.C. § 106129 U.S.C. § 1081
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