(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.
2012—Pub. L. 112–141substituted “Administrator” for “Director” in subsecs. (a) and (b).
1983—Pub. L. 98–181substituted “Director” for “Secretary” in subsecs. (a) and (b).
1973—Subsecs. (b), (c). Pub. L. 93–234redesignated 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
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
The table below lists the classification updates, since Jan. 3, 2012, for this section. Updates to a broader range of sections may be found at the update page for containing chapter, title, etc.
The most recent Classification Table update that we have noticed was Tuesday, August 13, 2013
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