SEC. 2. AUTHORITY TO CONTRACT FOR COLLECTION OF 
DELINQUENT JUDGMENTS AND ORDERS. 
Subsection (b) of section 4 of the Securities Exchange 
Act of 1934 (15 U.S.C. 78d(b)) is amended— 
(1) in the heading of such subsection, by strik-
ing ‘‘AND LEASING AUTHORITY’’ and inserting ‘‘, 
LEASING AUTHORITY, AND CONTRACTING AUTHOR-
ITY’’; and 
(2) by adding at the end the following new 
paragraph: 
‘‘(4) CONTRACTING AUTHORITY.— 
‘‘(A) IN GENERAL.—Notwithstanding any 
other provision of law, the Commission is au-
thorized to enter into contracts to assist in the 
collection of any claim of indebtedness resulting 
from any judgment or order (either by litigation 
or settlement) obtained by the Commission in 
any judicial action or administrative proceeding 
brought by or on behalf of the Commission. 
This authority includes, but is not limited to, 
the retention of private legal counsel to furnish 
legal services, including representation in litiga-
tion, negotiation, compromise, and settlement. 
Private counsel retained under this paragraph 
may represent the Commission in such debt col-
VerDate Nov 24 2008 
01:00 Oct 09, 2009
Jkt 089200
PO 00000
Frm 00002
Fmt 6652
Sfmt 6201
E:\BILLS\H3783.IH
H3783
jbell on DSKDVH8Z91PROD with BILLS
lection matters to the same extent as the Com-
mission may represent itself. 
‘‘(B) TERMS
AND
CONDITIONS
OF
CON-
TRACT.—Each such contract shall include such 
terms and conditions as the Commission con-
siders necessary and appropriate, and shall in-
clude provisions specifying— 
‘‘(i) the amount of the fee to be paid 
under such contract or the method for cal-
culating that fee; 
‘‘(ii) that the Commission retains the 
authority to represent itself, resolve a dis-
pute, compromise a claim, end collection 
efforts, and refer a matter to other counsel 
or to the Attorney General; and 
‘‘(iii) that the Commission may termi-
nate either the contract or the private 
counsel’s representation of the Commission 
in particular cases for any reason, includ-
ing for the convenience of the Commission. 
‘‘(C) 
PAYMENT
OF
FEES.—Notwith-
standing section 3302(b) of title 31, United 
States Code, a contract under this paragraph 
may provide that fees and costs incurred by pri-
VerDate Nov 24 2008 
01:00 Oct 09, 2009
Jkt 089200
PO 00000
Frm 00003
Fmt 6652
Sfmt 6201
E:\BILLS\H3783.IH
H3783
jbell on DSKDVH8Z91PROD with BILLS
vate counsel under such contracts are payable 
from the amounts recovered. 
‘‘(D) COMPETITION
REQUIRED.—Nothing 
in this paragraph shall relieve the Commission 
of the competition requirements set forth in 
title III of the Federal Property and Adminis-
trative Services Act of 1949 (41 U.S.C. 251 et 
seq.). 
‘‘(E) COUNTERCLAIMS.—In any action to 
recover indebtedness which is brought on behalf 
of the Commission by private counsel retained 
under this paragraph, no counterclaim may be 
asserted against the Commission unless the 
counterclaim is served directly on the Commis-
sion. Such service shall be made in accordance 
with the rules of procedure of the court in 
which the action is brought.’’. 
Æ 
VerDate Nov 24 2008 
01:00 Oct 09, 2009
Jkt 089200
PO 00000
Frm 00004
Fmt 6652
Sfmt 6301
E:\BILLS\H3783.IH
H3783
jbell on DSKDVH8Z91PROD with BILLS