Page:United States Statutes at Large Volume 114 Part 1.djvu/411

 PUBLIC LAW 106-224 —JUNE 20, 2000 114 STAT. 375 "(3) OVERSIGHT OF AGENTS AND LOSS ADJUSTERS. —The Corporation shall develop procedures to require an annual review by an approved insurance provider of the performance of each agent and loss adjuster used by the approved insurance provider. The Corporation shall oversee the conduct of annual reviews and may consult with an approved insurance provider regarding any remedial action that is determined to be necessary as a result of the annual review of an agent or loss adjuster. " (g) SUBMISSION OF INFORMATION TO CORPORATION TO SUPPORT COMPLIANCE EFFORTS. — "(1) TYPES OF INFORMATION REQUIRED.— The Secretary shall establish procedures under which approved insurance providers shall submit to the Corporation the following information with respect to each policy or plan of insurance offered under this title: "(A) The name and identification number of the insured. "(B) The agricultural commodity to be insured. "(C) The elected coverage level, including the price election, of the insured. "(2) TIME FOR SUBMISSION.— The information required by Deadline. paragraph (1) with respect to a policy or plan of insurance shall be submitted so as to ensure receipt by the Corporation not later than the Saturday of the week containing the calendar day that is 30 days after the applicable sales closing date for the crop to be insured. "(h) SANCTIONS FOR PROGRAM NONCOMPLD^NCE AND FRAUD. — "(1) FALSE INFORMATION.—^A producer, agent, loss adjuster, approved insurance provider, or other person that willfully and intentionally provides any false or inaccurate information to the Corporation or to an approved insurance provider with respect to a policy or plan of insurance under this title may, after notice and an opportunity for a hearing on the record, be subject to one or more of the sanctions described in paragraph (3). "(2) COMPLIANCE.— A person may, after notice and an opportunity for a hearing on the record, be subject to one or more of the sanctions described in paragraph (3) if the person is a producer, agent, loss adjuster, approved insurance provider, or other person that willfully and intentionally fails to comply with a requirement of the Corporation. "(3) AUTHORIZED SANCTIONS. —I f the Secretary determines that a person covered by this subsection has committed a material violation under paragraph (1) or (2), the following sanctions may be imposed: "(A) CIVIL FINES.—A civil fine may be imposed for each violation in an amount not to exceed the greater of— "(i) the amount of the pecuniary gain obtained as a result of the false or inaccurate information provided or the noncompliance with a requirement of this title; or " (ii) $10,000. "(B) PRODUCER DISQUALIFICATION.— In the case of a violation committed by a producer, the producer may be disqualified for a period of up to 5 years from receiving

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