Page:United States Statutes at Large Volume 108 Part 4.djvu/559

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PUBLIC LAW 103-354—OCT. 13, 1994 108 STAT. 3193 "(B) YIELD CALCULATION. —The Corporation shall— "(i) for the first year of participation of a producer, provide the assigned yield under this paragraph to the producer of feed or forage; and

    • (ii) for the second year of participation of the

producer, apply the actual production history or assigned yield requirement, as provided in this subsection. "(C) TERMINATION OF AUTHORITY.— The authority provided by this paragraph shall terminate on the date that is 3 years after the effective date of this paragraph.


"(1) IN GENERAL.— In addition to any standard forms or policies that the Board may require be made available to producers under subsection (c), a person may prepare for submission or propose to the Board— "(A) other crop insurance policies and provisions of poHcies; and "(B) rates of premiums for multiple peril crop insurance pertaining to wheat, soybeans, field com, and any other crops determined by the Secretary. "(2) SUBMISSION OF POUCIES. —A poUcy or other material submitted to the Board under this subsection may be prepared without regard to the limitations contained in this title, including the requirements concerning the levels of coverage and rates and the requirement that a price level for each commodity insured must equal the expected market price for the commodity as established by the Board. In the case of such a poUcy, the payment by the Corporation of a portion of the premium of the poHcy may not exceed the amount that would otherwise be authorized under subsection (e). "(3) REVIEW AND APPROVAL BY THE BOARD.—A pohcy or other material submitted to the Board under this subsection shall be reviewed by the Board and, if the Board finds that the interests of producers are adequately protected and that any premiums charged to the producers are actuarially appropriate, shall be approved by the Board for reinsurance and for sale to producers as an additional choice at actuarially appropriate rates and under appropriate terms and conditions, llie Corporation may enter into more than 1 reinsurance agreement with the approved insurance provider simultaneously to facihtate the offering of the new poUcies. "(4) GUIDEUNES FOR SUBMISSION AND REVIEW.—The Cor- Regulations. poration shall issue regulations to establish guidelines for the submission, and Board review, of poUcies or other material submitted to the Board under this subsection. At a minimum, the guidelines shall ensure the following: "(A) A proposal submitted to the Board under this subsection shall be considered as confidential commercial or financial information for purposes of section 552(b)(4) of title 5, United States Code, until approved by the Board. A proposal disapproved by the Board shall remain confidential commercial or financial information. "(B) The Board shall provide an applicant with the opportunity to present the proposal to the Board in person if the applicant so desires.