20 U.S.C. § 974 — Indemnity limits
submitted 51 years ago by Pub. L. 94-158 to r/title-20-EDUCATION · 432 words · no verdicts yet
A translation hasn’t been published for this section yet. The official text below is complete and authoritative.
Upon receipt of an application meeting the requirements of subsections (a) and (b) of section 973 of this title, the Council shall review the estimated value of the items for which coverage by an indemnity agreement is sought. If the Council agrees with such estimated value, for the purposes of this chapter, the Council shall, after approval of the application as provided in subsection (c) of section 973 of this title, make an indemnity agreement.
The aggregate of loss or damage covered by indemnity agreements made under this chapter shall not exceed $15,000,000,000 at any one time for international exhibitions, and $7,500,000,000 at any one time for domestic exhibitions.
No indemnity agreement for a single exhibition shall cover loss or damage in excess of $1,800,000,000 for international exhibitions, or $1,000,000,000 for domestic exhibitions.
If the estimated value of the items covered by an indemnity agreement for a single exhibition is—
$2,000,000 or less, then coverage under this chapter shall extend only to loss or damage in excess of the first $15,000 of loss or damage to items covered;
more than $2,000,000 but less than $10,000,000 then coverage under this chapter shall extend only to loss or damage in excess of the first $25,000 of loss or damage to items covered;
not less than $10,000,000 but less than $125,000,000, then coverage under this chapter shall extend to loss or damage in excess of the first $50,000 of loss or damage to items covered;
not less than $125,000,000 but less than $200,000,1 then coverage under this chapter shall extend to loss or damage in excess of the first $100,000 of loss or damage to items covered;
not less than $200,000,000 but less than $300,000,000, then coverage under the 2 chapter shall extend only to loss or damage in excess of the first $200,000, of loss or damage to items covered;
not less than $300,000,000 but less than $400,000,000, then coverage under this chapter shall extend only to loss or damage in excess of the first $300,000 of loss or damage to items covered;
not less than $400,000,000 but less than $500,000,000, then coverage under this chapter shall extend only to loss or damage in excess of the first $400,000 of loss or damage to items covered; or
$500,000,000 or more, then coverage under this chapter shall extend only to loss or damage in excess of the first $500,000 of loss or damage to items covered.
Source credit: (Pub. L. 94–158, § 5, Dec. 20, 1975, 89 Stat. 845; Pub. L. 96–496, title III, §§ 301, 302, Dec. 4, 1980, 94 Stat. 2593; Pub. L. 99–194, title III, § 303, Dec. 20, 1985, 99 Stat. 1345; Pub. L. 100–202, § 101(g) [title II, § 201], Dec. 22, 1987, 101 Stat. 1329–213, 1329–249; Pub. L. 101–512, title III, § 318 [title III, § 301], Nov. 5, 1990, 104 Stat. 1960, 1976; Pub. L. 105–277, div. A, § 101(e) [title III, § 333], Oct. 21, 1998, 112 Stat. 2681–231, 2681–294; Pub. L. 108–81, title V, § 501, Sept. 25, 2003, 117 Stat. 1003; Pub. L. 109–54, title IV, § 427, Aug. 2, 2005, 119 Stat. 555; Pub. L. 110–161, div. F, title IV, § 426(2), (3), Dec. 26, 2007, 121 Stat. 2151; Pub. L. 113–235, div. F, title IV, § 416, Dec. 16, 2014, 128 Stat. 2448.)
- 1975Enacted · Pub. L. 94-158 · 89 Stat. 845
- 1980Amended · Pub. L. 96-496 · 94 Stat. 2593
- 1985Amended · Pub. L. 99-194 · 99 Stat. 1345
- 1987Amended · Pub. L. 100-202 · 101 Stat. 1329
- 1990Amended · Pub. L. 101-512 · 104 Stat. 1960, 1976
- 1998Amended · Pub. L. 105-277 · 112 Stat. 2681
- 2003Amended · Pub. L. 108-81 · 117 Stat. 1003
- 2005Amended · Pub. L. 109-54 · 119 Stat. 555
- 2007Amended · Pub. L. 110-161 · 121 Stat. 2151
- 2014Amended · Pub. L. 113-235 · 128 Stat. 2448
A history note hasn’t been published yet. The record shows enactment by Pub. L. 94-158 on 1975-12-20.
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