
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 23, 2000]
[Document not affected by Public Laws enacted between
  January 23, 2000 and December 4, 2001]
[CITE: 42USC4051]

 
                 TITLE 42--THE PUBLIC HEALTH AND WELFARE
 
                  CHAPTER 50--NATIONAL FLOOD INSURANCE
 
   SUBCHAPTER II--ORGANIZATION AND ADMINISTRATION OF FLOOD INSURANCE 
                                 PROGRAM
 
       Part A--Industry Program With Federal Financial Assistance
 
Sec. 4051. Industry flood insurance pool; requirements for 
        participation
        
    (a) The Director is authorized to encourage and otherwise assist any 
insurance companies and other insurers which meet the requirements 
prescribed under subsection (b) of this section to form, associate, or 
otherwise join together in a pool--
        (1) in order to provide the flood insurance coverage authorized 
    under subchapter I of this chapter; and
        (2) for the purpose of assuming, 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 Director 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, Sec. 1331, Aug. 1, 1968, 82 Stat. 582; Pub. 
L. 98-181, title IV, Sec. 451(d)(1), Nov. 30, 1983, 97 Stat. 1229.)

                       References in Text

    This chapter, referred to in subsec. (b), is title XIII of Pub. L. 
90-448, Aug. 1, 1968, 82 Stat. 572, as amended, known as the National 
Flood Insurance Act of 1968, which enacted this chapter, amended section 
2414 of this title, repealed sections 2401 to 2413 and 2415 to 2421 of 
this title, and enacted provisions set out as a note under section 4001 
of this title. For complete classification of this Act to the Code, see 
Short Title note set out under section 4001 of this title and Tables.


                               Amendments

    1983--Pub. L. 98-181 substituted ``Director'' for ``Secretary'' 
wherever appearing.

                  Section Referred to in Other Sections

    This section is referred to in sections 4013, 4015, 4052, 4054, 
4055, 4082 of this title.
