§ 44304. Reinsurance

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To the extent the Secretary of Transportation is authorized to provide insurance under this chapter, the Secretary may reinsure any part of the insurance provided by an insurance carrier. The Secretary may reinsure with, transfer to, or transfer back to, any insurance carrier any insurance or reinsurance provided by the Secretary under this chapter.

(Pub. L. 103–272, § 1(e), July 5, 1994, 108 Stat. 1169; Pub. L. 107–42, title II, § 201(c), Sept. 22, 2001, 115 Stat. 235; Pub. L. 112–95, title VII, § 703, Feb. 14, 2012, 126 Stat. 118.)

In subsection (a), the words “may reinsure any part of the insurance provided by an insurance carrier” are substituted for “may reinsure, in whole or in part, any company authorized to do an insurance business” for clarity and consistency with source provisions restated in this subchapter and the definition of “insurance carrier” in section 44301 of the revised title. The words “transfer to, or transfer back to” are substituted for “cede or retrocede to” for clarity.

In subsection (b), the word “same” is omitted as being included in “similar”. The words “on account of the cost of” are omitted as surplus. The word “providing” is substituted for “rendered” and “furnished” because it is inclusive. The words “except for” are substituted for “but such allowance to the carrier shall not provide for” to eliminate unnecessary words.

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Pub. L. 103–272, § 1(e)
108 Stat. 1169
Pub. L. 107–42, title II, § 201(c)
115 Stat. 235
Pub. L. 112–95, title VII, § 703
126 Stat. 118
Pub. L. 112–95
Pub. L. 107–42

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§ 44304

Reinsurance

Pub. L.Pub. L. 103–272, § 1(e)

Stat.108 Stat. 1169

Pub. L.Pub. L. 107–42, title II, § 201(c)

Stat.115 Stat. 235

Pub. L.Pub. L. 112–95, title VII, § 703

Cites 8 · showing 5Cited by 0 across 0 sources