§ 4051. Industry flood insurance pool; requirements for participation
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(a)The Administrator is authorized to encourage and otherwise assist any insurance companies and other insurers which meet the requirements prescribed under subsection
(b)to form, associate, or otherwise join together in a pool—
(1)in order to provide the flood insurance coverage authorized under subchapter I; and
(2)for the purpose of assuming, including as reinsurance of coverage provided by the flood insurance program, on such terms and conditions as may be agreed upon, such financial responsibility as will enable such companies and other insurers, with the Federal financial and other assistance available under this chapter, to assume a reasonable proportion of responsibility for the adjustment and payment of claims for losses under the flood insurance program.
(b)In order to promote the effective administration of the flood insurance program under this part, and to assure that the objectives of this chapter are furthered, the Administrator is authorized to prescribe appropriate requirements for insurance companies and other insurers participating in such pool including, but not limited to, minimum requirements for capital or surplus or assets.
(Pub. L. 90–448, title XIII, § 1331, Aug. 1, 1968, 82 Stat. 582; 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, §§ 100232(d)(1), 100238(b)(1), July 6, 2012, 126 Stat. 954, 958.)
Connections12 cite this · traces to 3
Cited by 12 sections · top 11
U.S. Code
- § 4015Chargeable premium rates
- § 4013Nature and limitation of insurance coverage
- § 4055Reinsurance coverage
- § 4054Premium equalization payments; basis; aggregate amount; establishment of designated periods
- § 4082Use of insurance pool, companies, or other private organizations for certain payments
- § 4052Agreements with flood insurance pool
statutes-at-large
Traces to 3 documents
12 references not yet in our index
- Pub. L. 90–448, title XIII, § 1331
- 82 Stat. 582
- Pub. L. 98–181, title I
- 97 Stat. 1229
- Pub. L. 112–141, div. F, title II
- 126 Stat. 954
- Pub. L. 90–448
- 82 Stat. 572
- Pub. L. 112–141, § 100238(b)(1)
- Pub. L. 112–141, § 100232(d)(1)
- Pub. L. 98–181
- section 1377 of Pub. L. 90–448
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§ 4051
Industry flood insurance pool; requirements for participation
U.S.C.×6
Stat. Comp.×3
Stat.×3
Pub. L.Pub. L. 90–448, title XIII, § 1331
Stat.82 Stat. 582
Pub. L.Pub. L. 98–181, title I
Stat.97 Stat. 1229
Pub. L.Pub. L. 112–141, div. F, title II
Cites 15 · showing 8Cited by 12 across 3 sources