Sec. 201. Standard Reinsurance Agreement
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Section 508(k)(8) of the Federal Crop Insurance Act ( 7 U.S.C. 1508(k)(8) ) is amended— in subparagraph (A), in the matter preceding clause (i), by striking may renegotiate and all that follows through the end of clause
(ii)and inserting the following: “shall renegotiate the financial terms and conditions of each Standard Reinsurance Agreement— not later than December 31, 2016; and not less than once during each period of 5 reinsurance years thereafter. ; and by striking subparagraph
(E)and inserting the following: Notwithstanding subparagraph (F), the Board shall ensure that the Standard Reinsurance Agreement renegotiated under subparagraph (A)(i) establishes a target rate of return for the approved insurance providers, taken as a whole, that does not exceed 8.9 percent of retained premium for each of the 2017 through 2026 reinsurance years. .
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Sec. 201
Standard Reinsurance Agreement
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