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12 U.S.C. § 1883Insurance rates; report to Congress

submitted 58 years ago by Pub. L. 90-389 to r/title-12-BANKS-AND-BANKING · 97 words · no verdicts yet

in plain englishAI-generated · not legal advice

This section addresses Insurance rates; report to Congress. It states the requirements, authorities, procedures, and limits contained in the section.

The Federal supervisory agencies must consult with (1) insurers furnishing insurance protection against losses resulting from robberies, burglaries, and larcenies committed against financial institutions referred to in section 1881 of this title , and (2) State agencies having supervisory or regulatory responsibilities about that insurers to determine the feasibility and desirability of premium rate differentials based on the installation, maintenance, and operation of security devices and procedures. The Federal supervisory agencies must report to the Congress the results of their consultations under this section not later than two years after July 7, 1968 .
the actual law source: uscode.house.gov ↗public domain

The Federal supervisory agencies shall consult with

(1)

insurers furnishing insurance protection against losses resulting from robberies, burglaries, and larcenies committed against financial institutions referred to in section 1881 of this title, and

(2)

State agencies having supervisory or regulatory responsibilities with respect to such insurers

to determine the feasibility and desirability of premium rate differentials based on the installation, maintenance, and operation of security devices and procedures. The Federal supervisory agencies shall report to the Congress the results of their consultations pursuant to this section not later than two years after July 7, 1968.

Source credit: (Pub. L. 90–389, § 4, July 7, 1968, 82 Stat. 295.)

history & why it existsrecord from the source credit
  • 1968Enacted · Pub. L. 90-389 · 82 Stat. 295

A history note hasn’t been published yet. The record shows enactment by Pub. L. 90-389 on 1968-07-07.

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