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42 U.S.C. § 4054 — Premium equalization payments; basis; aggregate amount; establishment of designated periods

submitted 58 years ago by Pub. L. 90-448 to r/title-42-THE-PUBLIC-HEALTH-AND-WELFARE · 101 words · no verdicts yet

in plain englishAI-generated · not legal advice

The Administrator must make periodic payments to the flood-insurance pool to recognize required reductions in premium rates. The Administrator also sets the covered periods and the method for calculating premiums during them.

(a) The Administrator must periodically pay the pool formed under section 4051, on terms and conditions the Administrator sets, to recognize reductions in chargeable premium rates under section 4015 below the estimated rates under section 4014(a)(1), when those reductions are required to make flood insurance available on reasonable terms. (b) The Administrator must establish the designated periods under this section and the methods for determining the total premiums paid or payable during those periods.
the actual law source: uscode.house.gov ↗public domain
(a)

The Administrator, 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 Administrator.

Source credit: (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 I [title IV, § 451(d)(1)], Nov. 30, 1983, 97 Stat. 1229; Pub. L. 112–141, div. F, title II, § 100238(b)(1), July 6, 2012, 126 Stat. 958.)

history & why it existsrecord from the source credit
  • 1968Enacted · Pub. L. 90-448 · 82 Stat. 583
  • 1973Amended · Pub. L. 93-234 · 87 Stat. 981
  • 1983Amended · Pub. L. 98-181 · 97 Stat. 1229
  • 2012Amended · Pub. L. 112-141 · 126 Stat. 958

A history note hasn’t been published yet. The record shows enactment by Pub. L. 90-448 on 1968-08-01.

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