Page:United States Statutes at Large Volume 108 Part 4.djvu/546

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108 STAT. 3180 PUBLIC LAW 103-354—OCT. 13, 1994 (b) REFERENCES TO FEDERAL CROP INSURANCE ACT.—Except as otherwise expressly provided, whenever in this title an amendment or repeal is expressed in terms of an amendment to, or repeal of, a section or other provision, the reference shall be considered to be made to a section or other provision of the Federal Crop Insurance Act (7 U.S.C. 1501 et seq.). SEC. 102. DEFINITIONS. (a) IN GENERAL.— Section 502 (7 U.S.C. 1502) is amended— (1) by striking the section heading and "SEC. 502." and inserting the following: "SEC. 502. PURPOSE AND DEFIMTIONS. "(a) PURPOSE. — "\ and (2) by adding at the end the following new subsection: "(b) DEFINITIONS.^AS used in this title: "(1) ADDITIONAL COVERAGE. —The term 'additional coverage' means a plan of crop insurance coverage providing a level of coverage greater than the level available under catastrophic risk protection. (2) APPROVED INSURANCE PROVIDER. — The term 'approved insurance provider' means a private insurance provider that has been approved by the Corporation to provide insurance coverage to producers participating in the Federal crop insurance program established under this title.

  • X3) BOARD. —The term 'Board' means the Board of Directors of the Corporation established under section 505(a).

"(4) CORPORATION. —The term 'Corporation' means the Federal Crop Insurance Corporation established under section 503. "(5) DEPARTMENT.—The term 'Department' means the United States Department of Agriculture. "(6) LOSS RATIO. —The term 'loss ratio' means the ratio of all sums paid by the Corporation as indemnities under any eligible crop insurance polic^ to that portion of the premiimi designated for sinticipated losses and a reasonable reserve, other than that portion of the premium designated for operating and administrative expenses. "(7) SECRETARY.- - The term 'Secretary* means the Secretary of Agriculture. ^(8) TRANSITIONAL YIELD. —The term transitional yield' means the maximum average production per acre or equivalent mesisure that is assigned to acreage for a crop year by the Corporation in accordance with the regulations of me Corporation whenever the producer fails— " (A) to certify that acceptable documentation of production and acreage for the crop year is in the possession of the producer; or "(B) to present the acceptable documentation on the demand of the Corporation or an insurance company reinsured by the Corporation.". (b) CONFORMING AMENDMENTS.— (1) The first sentence of section 503 (7 U.S.C. 1503) is amended by striking "(herein called the Corporation)". (2) Section 504 (7 U.S.C. 1504) is amended— (A) in subsection (a), by striking "Board of Directors of the Corporation" and inserting "Board"; and (B) in subsection (d), by striking "Federal Crop Insurance Corporation" and inserting "Corporation".