42 U.S. Code § 4018 - Operating costs and allowances; definitions

(a) The Administrator shall from time to time negotiate with appropriate representatives of the insurance industry for the purpose of establishing—
(1) a current schedule of operating costs applicable both to risk-sharing insurance companies and other insurers and to insurance companies and other insurers, insurance agents and brokers, and insurance adjustment organizations participating on other than a risk-sharing basis, and
(2) a current schedule of operating allowances applicable to risk-sharing insurance companies and other insurers,
which may be payable in accordance with the provisions of subchapter II of this chapter, and such schedules shall from time to time be prescribed in regulations.
(b) For purposes of subsection (a) of this section—
(1) the term “operating costs” shall (without limiting such term) include—
(A) expense reimbursements covering the direct, actual, and necessary expenses incurred in connection with selling and servicing flood insurance coverage;
(B) reasonable compensation payable for selling and servicing flood insurance coverage, or commissions or service fees paid to producers;
(C) loss adjustment expenses; and
(D) other direct, actual, and necessary expenses which the Administrator finds are incurred in connection with selling or servicing flood insurance coverage; and
(2) the term “operating allowances” shall (without limiting such term) include amounts for profit and contingencies which the Administrator finds reasonable and necessary to carry out the purposes of this chapter.

Source

(Pub. L. 90–448, title XIII, § 1311,Aug. 1, 1968, 82 Stat. 579; 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.)
References in Text

This chapter, referred to in subsec. (b)(2), was in the original a reference to “this title” meaning title XIII of Pub. L. 90–448, Aug. 1, 1968, 82 Stat. 572, known as the National Flood Insurance Act of 1968, which is classified principally to this chapter. For complete classification of this Act to the Code, see Short Title note set out under section 4001 of this title and Tables.
Amendments

2012—Subsecs. (a), (b)(1)(D), (2). Pub. L. 112–141substituted “Administrator” for “Director”.
1983—Subsecs. (a), (b)(1)(D), (2). Pub. L. 98–181substituted “Director” for “Secretary” wherever appearing.
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) andsections 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.

This is a list of parts within the Code of Federal Regulations for which this US Code section provides rulemaking authority.

This list is taken from the Parallel Table of Authorities and Rules provided by GPO [Government Printing Office].

It is not guaranteed to be accurate or up-to-date, though we do refresh the database weekly. More limitations on accuracy are described at the GPO site.


24 CFR - Housing and Urban Development

24 CFR Part 55 - FLOODPLAIN MANAGEMENT

 

LII has no control over and does not endorse any external Internet site that contains links to or references LII.