republic-os/legal/us/code/title-42/chapter-50/section-4051.md

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LegalText	42 U.S.C. § 4051	Industry flood insurance pool; requirements for participation	us	united_states_code	code_section	42	THE PUBLIC HEALTH AND WELFARE	50	NATIONAL FLOOD INSURANCE	4051	42 U.S.C. § 4051	current	119-100	2026-06-26	official	https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc42@119-100.zip	/us/usc/t42/s4051	data/legal/raw/us/code/title-42/usc42.xml	6b569c15b4ad42af4a570c33fa6963b9117045b7707aa2273cd3b8a77f3f116e	644321055a08eb1f260a6a3e31ac157fa024756abf612a9fd6857e7e400cf24e	9f869237dc3ee94b65cad7b48f0c0331c4f192aab8fab3fef946091c9fd7f0a9	2026-07-04	official	legal us-code

42 U.S.C. § 4051 - Industry flood insurance pool; requirements for participation

Text

(a) The Administrator is authorized to encourage and otherwise assist any insurance companies and other insurers which meet the requirements prescribed under subsection (b) to form, associate, or otherwise join together in a pool—

(1) in order to provide the flood insurance coverage authorized under subchapter I; and

(2) for the purpose of assuming, including as reinsurance of coverage provided by the flood insurance program, on such terms and conditions as may be agreed upon, such financial responsibility as will enable such companies and other insurers, with the Federal financial and other assistance available under this chapter, to assume a reasonable proportion of responsibility for the adjustment and payment of claims for losses under the flood insurance program.

(b) In order to promote the effective administration of the flood insurance program under this part, and to assure that the objectives of this chapter are furthered, the Administrator is authorized to prescribe appropriate requirements for insurance companies and other insurers participating in such pool including, but not limited to, minimum requirements for capital or surplus or assets.

(Pub. L. 90–448, title XIII, § 1331, Aug. 1, 1968, 82 Stat. 582; Pub. L. 98–181, title I [title IV, § 451(d)(1)], Nov. 30, 1983, 97 Stat. 1229; Pub. L. 112–141, div. F, title II, §§ 100232(d)(1), 100238(b)(1), July 6, 2012, 126 Stat. 954, 958.)

Notes

Editorial Notes

References in TextThis chapter, referred to in subsecs. (a)(2) and (b), was in the original a reference to “this title” meaning title XIII of Pub. L. 90–448, Aug. 1, 1968, 82 Stat. 572, known as the National Flood Insurance Act of 1968, which is classified principally to this chapter. For complete classification of this Act to the Code, see Short Title note set out under section 4001 of this title and Tables.

Amendments2012—Subsec. (a). Pub. L. 112–141, § 100238(b)(1), substituted “Administrator” for “Director” in introductory provisions. Subsec. (a)(2). Pub. L. 112–141, § 100232(d)(1), inserted “, including as reinsurance of coverage provided by the flood insurance program” before “, on such terms”. Subsec. (b). Pub. L. 112–141, § 100238(b)(1), substituted “Administrator” for “Director”. 1983—Pub. L. 98–181 substituted “Director” for “Secretary” wherever appearing.

Statutory Notes and Related Subsidiaries

Effective DateSection effective 120 days following Aug. 1, 1968, or such later date prescribed by the Secretary but in no event more than 180 days following Aug. 1, 1968, see section 1377 of Pub. L. 90–448, set out as a note under section 4001 of this title.

Transfer of Functions For transfer of all functions, personnel, assets, components, authorities, grant programs, and liabilities of the Federal Emergency Management Agency, including the functions of the Under Secretary for Federal Emergency Management relating thereto, to the Federal Emergency Management Agency, see section 315(a)(1) of Title 6, Domestic Security. For transfer of functions, personnel, assets, and liabilities of the Federal Emergency Management Agency, including the functions of the Director of the Federal Emergency Management Agency relating thereto, to the Secretary of Homeland Security, and for treatment of related references, see former section 313(1) and sections 551(d), 552(d), and 557 of Title 6, Domestic Security, and the Department of Homeland Security Reorganization Plan of November 25, 2002, as modified, set out as a note under section 542 of Title 6.