Page:United States Statutes at Large Volume 104 Part 5.djvu/633

 PUBLIC LAW 101-624—NOV. 28, 1990 104 STAT. 3955 (11) by inserting "OTHER POWERS.— The Corporation" in subsection 0') after "(j)"; (12) by inserting "CONTRACTS. —The Corporation" in subsection (k) after "(k)"; (13) by striking the semicolon at the end of subsections (a), (b), (c), (e), (f), (g), (h) and inserting a period at the end of each of those subsections; and (14) by striking "; and" at the end of subsections (i) and (j) and inserting a period at the end of each of those subsections. SEC. 2203. UNIFORM CLAIMS ADJUSTMENT AND REINSURANCE AGREE- MENTS. (a) CLAIMS ADJUSTMENT. —Section 508(c) of the Federal Crop Insurance Act (7 U.S.C. 1508(c)) is amended— (1) by striking "To adjust and pay claims for losses" in the first sentence and inserting "CLAIMS FOR LOSSES. —The Corporation may adjust and pay claims for losses as provided under subsection (a)"; and (2) by inserting after the first sentence the following new sentence: "The rules prescribed by the Board shall establish standards to ensure that all claims for losses are adiusted to the extent practicable in a uniform and timely manner.'. (b) REINSURANCE AGREEMENTS.—Section 508(e) of the Federal Crop Insurance Act (7 U.S.C. 1508(e)) is amended— (1) by striking "And" and inserting "REINSURANCE.—The Corporation is"; and (2) by adding at the end the following new sentence: "Beginning with the 1992 reinsurance year (July 1, 1991 through June 30, 1992), the Corporation shall revise its reinsurance agreements with the reinsured companies so as to require the reinsured companies to bear an increased share of any potential loss under such agreement, taking into consideration the financial conditions of the reinsured companies and the availability of private reinsurance.". SEC. 2204. REVIEW OF POLICIES, ENSURING ACTUARIAL SOUNDNESS, AND INFORMATION COLLECTION. (a) IN GENERAL.— Section 508 of the Federal Crop Insurance Act (7 U.S.C. 1508) is amended— (1) by redesignating subsections (b) through (j) as subsections (e) through (m), respectively; (2) by inserting after subsection (a) the following new subsections: " (b) SUBMISSION OF POUCIES AND MATERIALS TO BOARD. — "(1) IN GENERAL. — In addition to any standard forms or policies that the Board may require be made available to producers under subsection (a) persons may prepare for submission to the Board— "(A) other crop insurance policies and provisions of policies; and "(B) rates of premiums for multiple peril crop insurance pertaining to wheat, soybeans, field corn and any other crops determined by the Secretary. "(2) PREPARATION OF POLICIES.— A policy or other material submitted to the Board under this subsection may be prepared without regard to the limitations contained in this title, including the requirements concerning the levels of coverage and

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