Page:United States Statutes at Large Volume 108 Part 4.djvu/555

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PUBLIC LAW 103-354—OCT. 13, 1994 108 STAT. 3189 "(B) EXCEPTION.— If a producer elects to purchase additional coverage for a crop equal to 65 percent or more of the recorded or appraised average yield indemnified at 100 percent of the expected market price, or an equivalent coverage, the producer shall not be subject to the administrative fee required by this paragraph or subsection (b)(5). If the producer has sdready paid the administrative fee for a lower level of coverage for the crop, the administrative fee shall be refunded to me producer unless the refund would reduce to less than $200 the total amount of the administrative fees paid by the producer for 2 or more crops in the same county for which a lower level of coverage is obtained. "(C) ADDITIONAL FEE. — If a producer elects to purchase additional coverage for a crop equal to or exceeding 65 percent of the recorded or appraised average jdeld and 100 percent of the expected market price or an equivalent coverage, the producer shall pay an administrative fee of $10 for the coverage. If a producer has already paid an administrative fee for lesser coverage for the crop, the fee for lesser coverage shall be refunded to the producer unless the producer has paid the maximum fee for lesser coverage and refund of the fee wili not reduce the amount to be paid below the maximum amount " (D) DEPOSIT OF FEES.—Notwithstsinding the authority o'anted to the Secretary under the Federal Crop Insurance Corporation account provisions of the Agricultural, Rural Development, Food and Drug Administration, and Related Agencies Appropriations Act, 1995, administrative fees collected under subparagraph (B) in excess of $100 per producer per county and under subparagraph (C) shall be deposited in the insurance fund established under section 516(c) to be available for the programs and activities of the Corporation. "(d) PREMIUMS. — "(1) PREMIUMS REQUIRED. —The Corporation shall fix adequate premiums for all the plans of insurance of the Corporation at such rates as the Board determines are actuarially sufficient to attain an expected loss ratio of not greater than 1.1 through September 30, 1998, and not greater than 1.075 afler October 1, 1998. "(2) PREMIUM AMOUNTS.— The premium amounts for catastropliic risk protection under subsection (b) and additional coverage under subsection (c) shall be fixed as follows: v "(A) In the case of catastrophic risk protection, the amount of the nremium shall be sufficient to cover anticipated losses and a reasonable reserve. "(B) In the case of additional coverage below 65 percent of the recorded or appraised average j^eld indemnified at 100 percent of the expected market price, or an equivalent coverage, but greater than 50 percent of the recorded or appraised average yield indemnified at 100 percent of the expected market price, or an. equivalent coverage, the amount of the premium shall— "(i) be sufficient to cover anticipated losses and a reasonable reserve; and