2021 US Code
Title 49 - Transportation
Subtitle VII - Aviation Programs
Part A - Air Commerce and Safety
Subpart iii - Safety
Chapter 443 - Insurance
Sec. 44304 - Reinsurance
| 49 U.S.C. § 44304 (2021) | |||||||||
| §44304. Reinsurance | |||||||||
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To the extent the Secretary of Transportation is authorized to provide insurance under this chapter, the Secretary may reinsure any part of the insurance provided by an insurance carrier. The Secretary may reinsure with, transfer to, or transfer back to, any insurance carrier any insurance or reinsurance provided by the Secretary under this chapter. |
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(Pub. L. 103–272, §1(e), July 5, 1994, 108 Stat. 1169; Pub. L. 107–42, title II, §201(c), Sept. 22, 2001, 115 Stat. 235; Pub. L. 112–95, title VII, §703, Feb. 14, 2012, 126 Stat. 118.) |
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In subsection (a), the words "may reinsure any part of the insurance provided by an insurance carrier" are substituted for "may reinsure, in whole or in part, any company authorized to do an insurance business" for clarity and consistency with source provisions restated in this subchapter and the definition of "insurance carrier" in section 44301 of the revised title. The words "transfer to, or transfer back to" are substituted for "cede or retrocede to" for clarity. In subsection (b), the word "same" is omitted as being included in "similar". The words "on account of the cost of" are omitted as surplus. The word "providing" is substituted for "rendered" and "furnished" because it is inclusive. The words "except for" are substituted for "but such allowance to the carrier shall not provide for" to eliminate unnecessary words. EDITORIAL NOTES AMENDMENTS 2012—Pub. L. 112–95 substituted "any insurance carrier" for "the carrier". 2001—Pub. L. 107–42 struck out subsec. (a) designation and heading "General Authority" and struck out subsec. (b) which read as follows: "(b) Premium Levels.—The Secretary may provide reinsurance at premiums not less than, or obtain reinsurance at premiums not higher than, the premiums the Secretary establishes on similar risks or the premiums the insurance carrier charges for the insurance to be reinsured by the Secretary, whichever is most advantageous to the Secretary. However, the Secretary may make allowances to the insurance carrier for expenses incurred in providing services and facilities that the Secretary considers good business practice, except for payments by the carrier for the stimulation or solicitation of insurance business." |
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| United States Code, 2018 Edition, Supplement 3, Title 49 - TRANSPORTATION | |||||||||
| Bills and Statutes | |||||||||
| United States Code | |||||||||
| Y 1.2/5: | |||||||||
| Title 49 - TRANSPORTATION SUBTITLE VII - AVIATION PROGRAMS PART A - AIR COMMERCE AND SAFETY subpart iii - safety CHAPTER 443 - INSURANCE Sec. 44304 - Reinsurance |
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| section 44304 | |||||||||
| 2021 | |||||||||
| January 3, 2022 | |||||||||
| Yes | |||||||||
| standard | |||||||||
| 72 Stat. 802 91 Stat. 1279 108 Stat. 1169 115 Stat. 235 126 Stat. 118 |
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| Public Law 85-726, Public Law 95-163, Public Law 103-272, Public Law 107-42, Public Law 112-95 |
