
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 22USC2194b]

 
               TITLE 22--FOREIGN RELATIONS AND INTERCOURSE
 
                     CHAPTER 32--FOREIGN ASSISTANCE
 
                 SUBCHAPTER I--INTERNATIONAL DEVELOPMENT
 
                         Part II--Other Programs
 
           subpart iv--overseas private investment corporation
 
Sec. 2194b. Enhancing private political risk insurance industry


(a) Cooperative programs

    In order to encourage greater availability of political risk 
insurance for eligible investors by enhancing the private political risk 
insurance industry in the United States, and to the extent consistent 
with this subpart, the Corporation shall undertake programs of 
cooperation with such industry, and in connection with such programs may 
engage in the following activities:
        (1) Utilizing its statutory authorities, encourage the 
    development of associations, pools, or consortia of United States 
    private political risk insurers.
        (2) Share insurance risks (through coinsurance, contingent 
    insurance, or other means) in a manner that is conducive to the 
    growth and development of the private political risk insurance 
    industry in the United States.
        (3) Notwithstanding section 2197(e) of this title, upon the 
    expiration of insurance provided by the Corporation for an 
    investment, enter into risk-sharing agreements with United States 
    private political risk insurers to insure any such investment; 
    except that, in cooperating in the offering of insurance under this 
    paragraph, the Corporation shall not assume responsibility for more 
    than 50 percent of the insurance being offered in each separate 
    transaction.

(b) Advisory group

                  (1) Establishment and membership

        The Corporation shall establish a group to advise the 
    Corporation on the development and implementation of the cooperative 
    programs under this section. The group shall be appointed by the 
    Board and shall be composed of up to 12 members, including the 
    following:
            (A) Up to seven persons from the private political risk 
        insurance industry, of whom no fewer than two shall represent 
        private political risk insurers, one shall represent private 
        political risk reinsurers, and one shall represent insurance or 
        reinsurance brokerage firms.
            (B) Up to four persons, other than persons described in 
        subparagraph (A), who are purchasers of political risk 
        insurance.

                            (2) Functions

        The Corporation shall call upon members of the advisory group, 
    either collectively or individually, to advise it regarding the 
    capability of the private political risk insurance industry to meet 
    the political risk insurance needs of United States investors, and 
    regarding the development of cooperative programs to enhance such 
    capability.

                            (3) Meetings

        The advisory group shall meet not later than September 30, 1989, 
    and at least annually thereafter. The Corporation may from time to 
    time convene meetings of selected members of the advisory group to 
    address particular questions requiring their specialized knowledge.

                 (4) Federal Advisory Committee Act

        The advisory group shall not be subject to the Federal Advisory 
    Committee Act (5 U.S.C. App.).

(Pub. L. 87-195, pt. I, Sec. 234A, as added Pub. L. 99-204, Sec. 9(a), 
Dec. 23, 1985, 99 Stat. 1672; amended Pub. L. 100-461, title V, 
Sec. 555, Oct. 1, 1988, 102 Stat. 2268-36.)

                       References in Text

    The Federal Advisory Committee Act, referred to in subsec. (b)(4), 
is Pub. L. 92-463, Oct. 6, 1972, 86 Stat. 770, as amended, which is set 
out in the Appendix to Title 5, Government Organization and Employees.

                          Codification

    Amendment by Pub. L. 100-461 is based on section 105(a) of title I 
of H.R. 5263, One Hundredth Congress, as passed by the House of 
Representatives on Sept. 20, 1988, and section 105(a) of title I of S. 
2757, One Hundredth Congress, as reported Sept. 7, 1988, and enacted 
into law by Pub. L. 100-461.


                               Amendments

    1988--Pub. L. 100-461 amended section generally, substituting 
provisions relating to enhancing private political risk insurance 
industry for provisions which related to facultative reinsurance 
program.

                  Section Referred to in Other Sections

    This section is referred to in sections 2195, 2197, 2200, 2200a of 
this title.
