12 U.S.C. § 1883 — Insurance rates; report to Congress

FEDERAL · 12 U.S.C. · Chapter 19

Insurance rates; report to Congress

Current through Pub. L. 119-102

Title 12 — Banks and Banking·Ch. 19 — SECURITY MEASURES FOR BANKS AND SAVINGS ASSOCIATIONS

The Federal supervisory agencies shall consult with

(1)insurers furnishing insurance protection against losses resulting from robberies, burglaries, and larcenies committed against financial institutions referred to in section 1881 of this title, and

(2)State agencies having supervisory or regulatory responsibilities with respect to such insurers to determine the feasibility and desirability of premium rate differentials based on the installation, maintenance, and operation of security devices and procedures. The Federal supervisory agencies shall report to the Congress the results of their consultations pursuant to this section not later than two years after July 7, 1968.

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The Federal supervisory agencies shall consult with
(1) insurers furnishing insurance protection against losses resulting from robberies, burglaries, and larcenies committed against financial institutions referred to in section 1881 of this title, and
(2) State agencies having supervisory or regulatory responsibilities with respect to such insurers
to determine the feasibility and desirability of premium rate differentials based on the installation, maintenance, and operation of security devices and procedures. The Federal supervisory agencies shall report to the Congress the results of their consultations pursuant to this section not later than two years after July 7, 1968.

12 U.S.C. § 1883 (Insurance rates; report to Congress) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Source Credit

History

(Pub. L. 90–389, §4, July 7, 1968, 82 Stat. 295.)

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Source Credit

History