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PUBLIC LAW 9M52-DEC. 24, 1969 U R B A N PROPERTY PROTECTION AND REINSURANCES- - E N T R Y R E INSURANCE CONTRACTS

82 Stat. 561. 12 USC 1749bbb-8.

12 USC

1749bbb-9.

INTO

SEC. 405. Section 1222(d) of the National Housing Act is amended by striking out all that follows "thereafter*' the first time it appears and inserting in lieu thereof a period. U R B A N PROPERTY PROTECTION AND R E INSURANCE — S T A T E o r R E I N S U R E !) LOSSES

82 Stat. 562.

[83 STAT.

SHARE

SEC. 406. Section 1223(a) of the National Housing Act is amended bj' striking out paragraph (1) and inserting in lieu thereof the following: '•(1) in any State which has not, after the close of the second full regular session of the appropriate State legislative body following the date of the enactment of this title, adopted appropriate legislation, retroactive to the date of the enactment of this title, under which the State, its political subdivisions, or a governmental corporation or fund established pursuant to State law, will reimburse the Secretary for any reinsured losses in that State in any reinsurance contract year, in an amount up to 5 per centum of the aggregate property insurance premiums earned in that State during the calendar year immediately preceding the end of the reinsurance contract year on those lines of insurance reinsured by the Secretary in that State during the contract year, to the extent that reinsured losses paid by the Secretary for such year exceed the total of (A) reinsurance premiums earned in that State during that reinsurance contract year plus (B) the excess of (i) the total premiums earned by the Secretary for reinsurance in that State during a preceding period measured from the end of the most recent reinsurance contract year with respect to which the Secretary was reimbursed for losses under this title over (ii) any amounts paid by the Secretary for reinsured losses that were incurred during such period;". STUDY OF R E INSURANCE AND OTHER PROGRAMS

82 Stat. 565. 12 USC 1749bbb-15.

SEC. 407. Section 1235(b) of the National Housing Act is amended by striking out "one year following the date of the enactment of this title" and inserting in lieu thereof "June 30, 1970". E M E R G E N C Y FLOOD INSURANCE

82 Stat. 582. 42 USC 40514055.

PROGRAM

SEC. 408. Part A of chapter II of title X III of the Housing and Urban Development Act of 1968 is amended by adding at the end thereof the following new section: a E M E R G E N C Y I M P L E M E N T A T I O N OF PROGRAM

42 USC 40114027.

"SEC. 1336. (a) Notwithstanding any other provisions of this title, for the purpose of providing flood insurance coverage at the earliest possible time, the Secretary shall carry out the flood insurance program authorized under chapter I during the period ending December 31, 1971, in accordance with the provisions of this part and the other provisions of this title insofar as they relate to this part but subject to the modifications made by or under subsection (b).

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