§ 4018. Operating costs and allowances; definitions
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(a)The Administrator shall from time to time negotiate with appropriate representatives of the insurance industry for the purpose of establishing—
(1)a current schedule of operating costs applicable both to risk-sharing insurance companies and other insurers and to insurance companies and other insurers, insurance agents and brokers, and insurance adjustment organizations participating on other than a risk-sharing basis, and
(2)a current schedule of operating allowances applicable to risk-sharing insurance companies and other insurers,
which may be payable in accordance with the provisions of subchapter II, and such schedules shall from time to time be prescribed in regulations.
(b)For purposes of subsection (a)—
(1)the term “operating costs” shall (without limiting such term) include—
(A)expense reimbursements covering the direct, actual, and necessary expenses incurred in connection with selling and servicing flood insurance coverage;
(B)reasonable compensation payable for selling and servicing flood insurance coverage, or commissions or service fees paid to producers;
(C)loss adjustment expenses; and
(D)other direct, actual, and necessary expenses which the Administrator finds are incurred in connection with selling or servicing flood insurance coverage; and
(2)the term “operating allowances” shall (without limiting such term) include amounts for profit and contingencies which the Administrator finds reasonable and necessary to carry out the purposes of this chapter.
(Pub. L. 90–448, title XIII, § 1311, Aug. 1, 1968, 82 Stat. 579; Pub. L. 98–181, title I [title IV, § 451(d)(1)], Nov. 30, 1983, 97 Stat. 1229; Pub. L. 112–141, div. F, title II, § 100238(b)(1), July 6, 2012, 126 Stat. 958.)
Connections34 cite this · traces to 3
Cited by 34 sections · top 24
U.S. Code
statute-compilations
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- Sec. 2Flood insurance transparency, accountability, and reform
- Sec. 2Flood insurance transparency, accountability, and reform
- Sec. 4Properties with preexisting conditions
- Sec. 115Pilot program for properties with preexisting conditions
- Sec. 115Pilot program for properties with preexisting conditions
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- Sec. 3Pilot program for properties with preexisting conditions
- Sec. 302Cap on Write Your Own company compensation
- Sec. 302Cap on Write Your Own company compensation
- Sec. 2Pilot program for properties with preexisting conditions
- Sec. 2Pilot program for properties with preexisting conditions
- Sec. 302Cap on Write Your Own company compensation
- Sec. 302Cap on Write Your Own company compensation
- Sec. 302Cap on Write Your Own company compensation
- Sec. 302Cap on Write Your Own company compensation
- Sec. 302Cap on Write Your Own company compensation
- Sec. 302Cap on Write Your Own company compensation
- Sec. 302Cap on Write Your Own company compensation
- Sec. 2Pilot program for properties with preexisting conditions
Traces to 3 documents
11 references not yet in our index
- Pub. L. 90–448, title XIII, § 1311
- 82 Stat. 579
- Pub. L. 98–181, title I
- 97 Stat. 1229
- Pub. L. 112–141, div. F, title II, § 100238(b)(1)
- 126 Stat. 958
- Pub. L. 90–448
- 82 Stat. 572
- Pub. L. 112–141
- Pub. L. 98–181
- section 1377 of Pub. L. 90–448
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§ 4018
Operating costs and allowances; definitions
Bills×28
U.S.C.×5
Stat. Comp.×1
Pub. L.Pub. L. 90–448, title XIII, § 1311
Stat.82 Stat. 579
Pub. L.Pub. L. 98–181, title I
Stat.97 Stat. 1229
Pub. L.Pub. L. 112–141, div. F, title II, § 100238(b)(1)
Cites 14 · showing 8Cited by 34 across 3 sources