Page:United States Statutes at Large Volume 114 Part 1.djvu/426

 114 STAT. 390 PUBLIC LAW 106-224 —JUNE 20, 2000 "(G) Four active producers who are policy holders, are from different geographic areas of the United States, and represent a cross-section of agricultural commodities grown in the United States, including at least one specialty crop producer. " (3) APPOINTMENT OF PRIVATE SECTOR MEMBERS. —The members of the Board described in subparagraphs (E), (F), and (G) of pgiragraph (2)— "(A) shall be appointed by, and hold office at the pleasure of, the Secretary; "(B) shall not be otherwise employed by the Federal Government; "(C) shall be appointed to staggered 4-year terms, as determined by the Secretary; and "(D) shall serve not more than two consecutive terms. "(4) CHAIRPERSON.—The Board shall select a member of the Board to serve as Chairperson.". 7 USC 1505 note. (2) IMPLEMENTATION.— The initial members of the Board of Directors of the Federal Crop Insurance Corporation required to be appointed under section 505(a)(3) of the Federal Crop Insurance Act (as amended by paragraph (1)) shall be appointed during the period beginning February 1, 2001, and ending April 1, 2001. 7 USC 1505 note. (3) EFFECT ON EXISTING BOARD.— A member of the Board of Directors of the Federal Crop Insurgince Corporation on the date of the enactment of this Act may continue to serve as a member of the Board until the members referred to in paragraph (2) are first appointed. (b) EXPERT REVIEW OF POLICIES, PLANS OF INSURANCE, AND RELATED MATERIAL. —Section 505 of the Federal Crop Insurance Act (7 U.S.C. 1505) is amended by adding at the end the following: " (e) EXPERT REVIEW OF POLICIES, PLANS OF INSURANCE, AND RELATED MATERIAL.— "(1) REVIEW BY EXPERTS.— The Board shall establish procedures under which any policy or plan of insureuice, as well as any related materiEd or modification of such a policy or plan of insur£ince, to be offered under this title shall be subject to independent reviews by persons experienced as actuaries and in underwriting, as determined by the Board. " (2) REVIEW OF CORPORATION POLICIES AND PLANS.— Except as provided in paragraph (3), the Board shall contract with at least five persons to each conduct a review of the policy or plan of insurance, of whom— "(A) not more than one person may be employed by the Federal Government; and "(B) at least one person must be designated by approved insurance providers pursuant to procedures determined by the Boeird. "(3) REVIEW OF PRIVATE SUBMISSIONS.— If the reviews under paragraph (1) cover a policy or plan of insurance, or any related material or modification of a policy or plan of insurance, submitted under section 508(h)— "(A) the Board shall contract with at least five persons to each conduct a review of the policy or pleui of insurance, of whom— "(i) not more than one person may be employed by the Federal Government; and

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