42-U.S.C.-4054
§4054 – Premium Equalization Payments; Basis; Aggregate Amount; Establishment of Designated Periods
Pathway
Title 42 > Chapter 50 > Subchapter II > Part A > Section 4054
Details
- Reference: Section 4054
- Legend: §4054 – Premium Equalization Payments; Basis; Aggregate Amount; Establishment of Designated Periods
- USCode Year: 2011
Provision Content
(a) The Director, on such terms and conditions as he may from time to time prescribe, shall make periodic payments to the pool formed or otherwise created under section 4051 of this title, in recognition of such reductions in chargeable premium rates under section 4015 of this title below estimated premium rates under section 4014(a)(1) of this title as are required in order to make flood insurance available on reasonable terms and conditions.
(b) Designated periods under this section and the methods for determining the sum of premiums paid or payable during such periods shall be established by the Director.
(Pub. L. 90–448, title XIII, §1334, Aug. 1, 1968, 82 Stat. 583; Pub. L. 93–234, title I, §111, Dec. 31, 1973, 87 Stat. 981; Pub. L. 98–181, title IV, §451(d)(1), Nov. 30, 1983, 97 Stat. 1229.)
Amendments
1983—Pub. L. 98–181 substituted “Director” for “Secretary” wherever appearing.
1973—Subsecs. (b), (c). Pub. L. 93–234 redesignated subsec. (c) as (b) and struck out former subsec. (b) prescribing formula for sharing losses between Government and industry and permit necessary flexibility in loss sharing to take into account longer-term loss experience trends and to compensate for lack of precision in actuarial computations.
Transfer of Functions
For transfer of all functions, personnel, assets, components, authorities, grant programs, and liabilities of the Federal Emergency Management Agency, including the functions of the Under Secretary for Federal Emergency Management relating thereto, to the Federal Emergency Management Agency, see section 315(a)(1) of Title 6, Domestic Security.
For transfer of functions, personnel, assets, and liabilities of the Federal Emergency Management Agency, including the functions of the Director of the Federal Emergency Management Agency relating thereto, to the Secretary of Homeland Security, and for treatment of related references, see former section 313(1) and sections 551(d), 552(d), and 557 of Title 6, Domestic Security, and the Department of Homeland Security Reorganization Plan of November 25, 2002, as modified, set out as a note under section 542 of Title 6.
U.S. Encyclopedia of Law Coverage
Subchapter II – Organization and Administration of Flood Insurance Program in the Legal Encyclopedia: Public Health
In this entry about Subchapter II – Organization and Administration of Flood Insurance Program, find legal reference material, bibliographies and premiere content related to public health in the American Encyclopedia of Law, presenting a comprehensive view of the United States public health-specific issues, written by authorities in the field.
Part A – Industry Program With Federal Financial Assistance in the Legal Encyclopedia: Insurance
In this entry about Part A – Industry Program With Federal Financial Assistance, find legal reference material, bibliographies and premiere content related to insurance in the American Encyclopedia of Law, presenting a comprehensive view of the United States insurance-specific issues, written by authorities in the field.
Subchapter II – Organization and Administration of Flood Insurance Program in the Legal Encyclopedia: Flood
In this entry about Subchapter II – Organization and Administration of Flood Insurance Program, find legal reference material, bibliographies and premiere content related to flood in the American Encyclopedia of Law, presenting a comprehensive view of the United States flood-specific issues, written by authorities in the field.
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