Sec. 5. Multiple agricultural structure policy pilot program
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The Administrator of the Federal Emergency Management Agency (in this section referred to as the Administrator ) shall carry out a pilot program under this section that provides for the sale of contracts for flood insurance coverage under the National Flood Insurance Act of 1968 that cover multiple non-residential agricultural structures, as such term is defined in section 1315(a)(2)(D) of such Act ( 42 U.S.C. 4022(a)(2)(D) ), under a single flood insurance policy. The Administrator may provide coverage under the pilot program only for properties located in communities for which a flood insurance rate map is in effect and in which the full limits of coverage under the National Flood Insurance Act of 1968 are available .
Coverage provided under the pilot program shall not exceed $500,000 aggregate liability per policy for coverage of structures and $500,000 aggregate liability per policy for coverage of contents. Coverage provided under the pilot program shall comply with subsection
(c)of section 1306 of the National Flood Insurance Act of 1968 ( 42 U.S.C. 4013(c) ). Coverage provided under the pilot program shall be consistent with, and as substantially identical as possible to, the terms, conditions, and exclusions found in the General Property Form of the Standard Flood Insurance Policy, as set forth in Appendix A(2) to Part 61 of title 44, Code of Federal Regulations. Notwithstanding any applicable rulemaking requirements, to the extent necessary to implement the pilot program under this section, the Administrator may issue endorsements to the General Policy Form of the Standard Flood Insurance Policy, as set forth in the Appendix referred to in paragraph (1), except that no such endorsement may be issued before the expiration of the 6-month period beginning upon publication of such endorsement in the Federal Register. Notwithstanding any other provision of law, or arrangements entered into under section 1340 of the National Flood Insurance Act of 1968 ( 42 U.S.C. 4071 ), the Administrator shall sell contracts for coverage under the pilot program under this section only through the facilities of the Administrator’s direct serving agent for the national flood insurance program. The Administrator may not sell a contract for coverage under the pilot program under this section for a structure that covers any period during which the structure is covered under another contract for insurance coverage made available under the National Flood Insurance Act of 1968. Nothing in this section may be construed to limit or restrict the Administrator’s authority to provide, by regulation, for general terms and conditions of flood insurance for multiple structures under one flood insurance policy pursuant to sections 1305 and 1306 of the National Flood Insurance Act of 1968 ( 42 U.S.C. 4012 , 4013). The Administrator may not sell any policy for flood insurance coverage under the pilot program under this section before the expiration of the 6-month period beginning upon publication in the Federal Register of notice describing the pilot program and setting forth the general terms and conditions of endorsements to be sold under the program. The pilot program under this section shall terminate upon, and the Administrator may not sell any policy for flood insurance coverage under the pilot program after, the expiration of the 6-year period beginning upon the date of the enactment of this Act. Not later than the expiration of the 5-year period beginning on the date of the enactment of this Act, the Administrator shall submit a report to the Congress describing and evaluating the pilot program under this section.
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Sec. 5
Multiple agricultural structure policy pilot program
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