Page:United States Statutes at Large Volume 92 Part 2.djvu/818

 92 STAT. 2098

12 USC 1749bbb-3.

PUBLIC LAW 95-557—OCT. 31, 1978 tion (b) shall be individuals who are not employed by, or otherwise affiliated with, insurers, insurance agents, brokers, producers, or other entities of the insurance industry.". (c) Section 1211(b) of such Act is amended by striking out "and" at the end of paragraph (9), by striking out the period at the end of paragraph (10) and inserting m lieu thereof "; and", and by adding the following, new paragraph at the end thereof: "(11) Notwithstanding any other provision of this section, on and after January 31, 1979, no risk within the plan shall be insured at a rate higher than the rates or advisory rates set by the principal State-licensed rating organization for essential property insurance in the voluntary market; except that this provision shall not be deemed to prohibit the application to any such risk, on a nondiscriminatory basis, of condition charges for substandard physical conditions within the control of the applicant for insurance as set by the principal State-licensed rating organization for the voluntary market.". EXTENSION OF NATIONAL FLOOD INSURANCE PROGRAM

42 USC 4026. 42 USC 4056.

SEC. 308. (a) Section 1319 of the National Flood Insurance Act of 1968 is amended by striking out "October 31, 1978" and inserting in lieu thereof "September 30, 1980". (b) Section 1336(a) of such Act is amended by striking out "October 31, 1978" and inserting in lieu thereof "September 30, 1980". FLOOD INSURANCE STUDIES

42 USC 4127.

SEC. 309. Section 1376(c) of the National Flood Insurance Act of 1968 is amended by striking out "and not to exceed $108,000,000 for the fiscal year 1978" and inserting in lieu thereof the following: ", not to exceed $108,000,000 for the fiscal year 1978, and not to exceed $114,000,000 for the fiscal year 1979.". FEDERAL HOUSING ADMINISTRATION GENERAL INSURANCE F U N D

12 USC 1735c.

SEC. 310. Section 519(f) of the National Housing Act is amended by inserting the following before the period: ", which amount shall be increased by $165,000,000 on October 1, 1978". M U L T I F A M I L Y MORTGAGE INSURANCE

SEC. 311. (a) The last sentence of section 207(c) of the National 12 USC 1713. Housing Act is amended by striking out "eight" and inserting in lieu thereof "five". 12 USC 1715z-6. (b) Section 241(d) of such Act is amended by adding at the end thereof the following: "At any sale under foreclosure of a mortgage on a project or facility which is not insured under this Act but which is senior to a loan assigned to the Secretary pursuant to subsection (c), the Secretary is authorized to bid, in addition to amounts authorized under section 207(k), any sum up to but not in excess of the total unpaid indebtedness secured by such senior mortgage, plus taxes, insurance, foreclosure costs, fees, and other expenses. In the event that, pursuant to subsection (c), the Secretary acquires title to, or is assigned, a loan covering a project or facility which is subject to a mortgage which is not insured under this Act, the Secretary is authorized to make payments from the General Insurance Fund on the debt secured by such mortgage, and to take such other steps as the Secretary may

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