22 U.S. Code § 2200b. Prohibition on noncompetitive awarding of insurance contracts on OPIC supported exports

prev next
(a) Requirement for certification
(1) In general

Except as provided in paragraph (3), the investor on whose behalf insurance, reinsurance, guaranties, or other financing is provided under this subpart with respect to a project shall be required to certify to the Corporation that any contract for the export of goods as part of that project will include a clause requiring that United States insurance companies have a fair and open competitive opportunity to provide insurance against risk of loss of such export.

(2) When certification must be made

The investor shall be required, in every practicable case, to so certify before the insurance, reinsurance, guarantee, or other financing is provided. In any case in which such a certification is not made in advance, the investor shall include in the certification the reasons for the failure to make a certification in advance.

(3) Exception

Paragraph (1) does not apply with respect to an investor who does not, because of the nature of the investment, have a controlling interest in fact in the project in question.

(b) Reports by United States Trade Representative

The United States Trade Representative shall review the actions of the Corporation under subsection (a) and, after consultation with representatives of United States insurance companies, shall report to the Congress in the report required by section 2241(b) of title 19 with respect to such actions.

(c) DefinitionsFor purposes of this section—
(1) the term “United States insurance company” includes—
an individual, partnership, corporation, holding company, or other legal entity which is authorized, or in the case of a holding company, subsidiaries of which are authorized, by a State to engage in the business of issuing insurance contracts or reinsuring the risk underwritten by insurance companies; and
foreign operations, branches, agencies, subsidiaries, affiliates, or joint ventures of any entity described in subparagraph (A);
(2) United States insurance companies shall be considered to have had a “fair and open competitive opportunity to provide insurance” if they—
have received notice of the opportunity to provide insurance; and
have been evaluated on a nondiscriminatory basis; and
the term “State” includes the District of Columbia and any commonwealth, territory, or possession of the United States.
(Pub. L. 87–195, pt. I, § 240B, as added Pub. L. 102–549, title I, § 109, Oct. 28, 1992, 106 Stat. 3654.)
Repeal of Section

Pub. L. 115–254, div. F, title VI, § 1464(2), Oct. 5, 2018, 132 Stat. 3513, provided that, effective at the end of the transition period, as defined in section 9681 of this title, this section is repealed.

Prior Provisions

A prior section 2200b, Pub. L. 87–195, pt. I, § 240B, as added Pub. L. 97–65, § 10, Oct. 16, 1981, 95 Stat. 1024, related to return of appropriated funds, prior to repeal by Pub. L. 99–204, § 15, Dec. 23, 1985, 99 Stat. 1676.

Effective Date of Repeal

Repeal effective at the end of the transition period, as defined in section 9681 of this title, see section 9684 of this title.