
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: 42USC4052]

 
                 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. 4052. Agreements with flood insurance pool


(a) Authorization

    The Director is authorized to enter into such agreements with the 
pool formed or otherwise created under this part as he deems necessary 
to carry out the purposes of this chapter.

(b) Terms and conditions

    Such agreements shall specify--
        (1) the terms and conditions under which risk capital will be 
    available for the adjustment and payment of claims,
        (2) the terms and conditions under which the pool (and the 
    companies and other insurers participating therein) shall 
    participate in premiums received and profits or losses realized or 
    sustained,
        (3) the maximum amount of profit, established by the Director 
    and set forth in the schedules prescribed under section 4018 of this 
    title, which may be realized by such pool (and the companies and 
    other insurers participating therein),
        (4) the terms and conditions under which operating costs and 
    allowances set forth in the schedules prescribed under section 4018 
    of this title may be paid, and
        (5) the terms and conditions under which premium equalization 
    payments under section 4054 of this title will be made and 
    reinsurance claims under section 4055 of this title will be paid.

(c) Additional provisions

    In addition, such agreements shall contain such provisions as the 
Director finds necessary to assure that--
        (1) no insurance company or other insurer which meets the 
    requirements prescribed under section 4051(b) of this title, and 
    which has indicated an intention to participate in the flood 
    insurance program on a risk-sharing basis, will be excluded from 
    participating in the pool,
        (2) the insurance companies and other insurers participating in 
    the pool will take whatever action may be necessary to provide 
    continuity of flood insurance coverage by the pool, and
        (3) any insurance companies and other insurers, insurance agents 
    and brokers, and insurance adjustment organizations will be 
    permitted to cooperate with the pool as fiscal agents or otherwise, 
    on other than a risk-sharing basis, to the maximum extent 
    practicable.

(Pub. L. 90-448, title XIII, Sec. 1332, Aug. 1, 1968, 82 Stat. 582; Pub. 
L. 98-181, title IV, Sec. 451(d)(1), Nov. 30, 1983, 97 Stat. 1229.)


                               Amendments

    1983--Subsecs. (a), (b)(3), (c). Pub. L. 98-181 substituted 
``Director'' for ``Secretary'' wherever appearing.
