Page:United States Statutes at Large Volume 82.djvu/614

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PUBLIC LAW 90-448-AUG. 1, 1968 REIMBURSEMENT FOR REINSURANCE PROVIDED UNDER INSURANCE DEVELOPMENT PROGRAM

Ante, P. 560.

[82 STAT. NATIONAL

SEC. 1211. (a) In order to carry out the purposes of this title and to make available to insurers who particii^ate hereunder the reinsurance afforded under part B of title X II of the National Housing Act against losses to property resulting from riots or civil disorders, the Commissioner is authorized to assess each insurance company authorized to do business in the District of Columbia an amount, in the proportion that the premiums earned by each such company in the District of Columbia, on lines reinsured in the District of Columbia by the Secretary of Housing and Urban Development, during the preceding calendar year bear to the aggregate premiums earned on those lines iri the District of Columbia by all insurance companies, sufficient to l^rovide a fund to reimburse the Secretary of Housing and ITrban Development in the manner set forth in section 1223(a)(1) of such part B. Such fund may be added to or such fund may be created by moneys appropriated therefor by the Congress. (b) Insurers shall add to the premium rate an amount, to be approved by the Commissioner, sufficient to recover, within not more than three years, any amounts assessed under subsection (a) of this section durnig the preceding calendar year. Such amount shall be a separate charge to the insured in addition to the premium to be paid and shall be reflected as such in the policy of insurance. No commission shall be paid thereon to any agent or broker producing or selling the policy of insurance Avherein such amount is added. DELEGATION

SEC. 1212. The Commissioner is authorized to delegate any of the functions vested in him by this title. JUDICIAL REVIEW

77 Stat. 485; 78 Stat. 633.

SEC. 1213. Section 11-742(a) of the District of Columbia Code is amended (1) by striking out "and" immediately following paragraph (10); (2) by striking out the period following paragraph (11) and inserting in lieu thereof "; and"; and (3) by adding at the end thereof the following new paragraph: " (12) final orders and decisions of the Commissioner of the District of Columbia under the provisions of the District of Columbia Insurance Placement Act." TITLE X III — N A T I O N A L FIX)OD INSURANCE SHORT TITI.E

SEC. 1301. This title may be cited as the "National Flood Insurance Act of 1968". FINDINGS A N D DECLARATION OF PURPOSE

SEC. 1302. (a) The Congress finds that (1) from time to time flood disasters have created personal hardships and economic distress which have required unforeseen disaster relief measures and have placed ah increasing burden on the Nation's resources; (2) despite the installation of preventive and protective works and the adoption of other public programs designed to reduce losses caused by flood damage, these methods have not been sufficient to protect adequately against growing exposure to future flood losses; (3) as a matter of national policy, a reasonable method of sharing the risk of flood losses is

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