Page:United States Statutes at Large Volume 122.djvu/1396

 12 2 STA T . 1 37 3 PUBLIC LA W 11 0– 23 4—M A Y 22, 200 8forthesal eorser vic eofa p olic y or pla n of ins u rance offere d under this title if —‘ ‘ ( i ) the individual has a su b stantial beneficial interest , ora m ember of the individual ’ s immediate family has a substantial beneficial interest, in the policy or plan of insurance and ‘‘(ii) the total compensation to be paid to the indi - vidual w ith respect to the sale or service of the policies or plans of insurance that meet the condition described in clause (i) e x ceeds 30 percent or the percenta g e speci- fied in S tate law, whichever is less, of the total of all compensation received directly or indirectly by the individual for the sale or service of all policies and plans of insurance offered under this title for the reinsurance year . ‘‘( C ) REPORTING .— N ot later than 9 0 days after the annual settlement date of the reinsurance year, any indi- vidual that received directly or indirectly any compensation for the service or sale of any policy or plan of insurance offered under this title in the prior reinsurance year shall certify to applicable approved insurance providers that the compensation that the individual received was in compli- ance with this paragraph. ‘‘( D )S A N C TION S .— T he procedural re q uirements and sanctions prescribed in section 51 5(h) shall apply to the prosecution of a violation of this paragraph. ‘‘( E ) A PP L ICA B ILIT Y .— ‘‘(i) I N GENERAL.—Sanctions for violations under this paragraph shall only apply to the individuals or entities directly responsible for the certification required under subparagraph (C) or the failure to comply with the requirements of this paragraph. ‘‘(ii) P RO H IBITION.—No sanctions shall apply with respect to the policy or plans of insurance upon which compensation is received, including the reinsurance for those policies or plans.’’. SEC.120 0 6 . ADMIN IS TR ATI V E F EE. (a) IN G ENERAL.—Section 50 8 (b)(5) of the F ederal Crop Insur- ance Act ( 7U .S.C. 1508(b)(5)) is amended— (1) by stri k ing subparagraph (A) and inserting the fol- lowing

‘‘(A) B ASIC F EE.—Each producer shall pay an adminis- trative fee for catastrophic risk protection in the amount of $ 300 per crop per county.’’; and ( 2 ) in subparagraph (B)— (A) by striking ‘‘ PAYMENTO N B E H A LF OFP R O DUC ER S ’’ and inserting ‘‘PAYMENT OF CATASTROPH I C RIS K PROTEC - TION FEE ON BEHALF OF PRODUCERS’’; (B) in clause (i)— (i) by striking ‘‘or other payment’’; and (ii) by striking ‘‘with catastrophic risk protection or additional coverage’’ and inserting ‘‘through the pay- ment of catastrophic risk protection administrative fees’’; (C) by striking clauses (ii) and (vi);

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