Sec. 302. Cap on Write Your Own company compensation
193 words·~1 min read·
/bill/116/hr/3872/ih/section-302A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 1311 of the National Flood Insurance Act of 1968 ( 42 U.S.C. 4018 ) is amended— by redesignating subsection
(b)as subsection (c); and by inserting after subsection
(a)the following: In negotiating with appropriate representatives of the insurance industry under subsection (a), the Administrator shall ensure that— any reimbursement paid to a property and casualty insurance company for selling, writing, and servicing flood insurance policies is not more than 22.46 percent of the aggregate amount of premiums charged by the insurance company; and an insurance company pays a portion of the reimbursement described in paragraph
(1)to agents of the company as a commission, in an amount that is not less than 15 percent of the aggregate amount of the premiums sold by the agent. . Section 1311 of the National Flood Insurance Act of 1968 ( 42 U.S.C. 4018 ), as amended by subsection (a), is amended— in subsection (a), by striking The Administrator and inserting ; and In general .—The Administrator in subsection (c), as so redesignated by subsection
(a)of this section, by striking For purposes of subsection
(a)and inserting . Definitions .—For purposes of this section
Connectionstraces to 1
Traces to 1 document
Citation graph
cites case law
Sec. 302
Cap on Write Your Own company compensation
Cites 1Cited by 0 across 0 sources