U.S Code last checked for updates: Jun 16, 2024
§ 1506.
General powers
(a)
Succession
(b)
Corporate seal
(c)
Property
(d)
Suit
(e)
Bylaws and regulations
(f)
Mails
(g)
Assistance
(h)
Collection and sharing of information
(1)
Surveys and investigations
(2)
Data collection
(A)
In general
(B)
National Agricultural Statistics Service
Data collected by the National Agricultural Statistics Service, whether published or unpublished, shall be—
(i)
provided in an aggregate form to the Corporation for the purpose of providing insurance under this subchapter; and
(ii)
kept confidential by the Corporation in the same manner and to the same extent as is required under—
(I)
(II)
the Confidential Information Protection and Statistical Efficiency Act of 2002 (44 U.S.C. 3501 note; Public Law 107–347).2
2
 See References in Text note below.
(C)
Noninsured crop disaster assistance program
In collecting data under this subsection, the Secretary shall ensure that—
(i)
appropriate data are collected through the noninsured crop disaster assistance program established by section 7333 of this title; and
(ii)
not less frequently than annually, the Farm Service Agency shares, and the Corporation considers, the data described in clause (i).
(3)
Sharing of records
(i)
Expenditures
(j)
Settling claims
(k)
Other powers
(l)
Contracts
(m)
Submission of certain information
(1)
Social security account and employer identification numbers
(2)
Notification by policyholders
(3)
Identification of holders of substantial interests
(4)
“Substantial beneficial interest” defined
(n)
Actuarial soundness
(1)
Projected loss ratio as of October 1, 1995
The Corporation shall take such actions as are necessary to improve the actuarial soundness of Federal multiperil crop insurance coverage made available under this subchapter to achieve, on and after October 1, 1995, an overall projected loss ratio of not greater than 1.1, including—
(A)
instituting appropriate requirements for documentation of the actual production history of insured producers to establish recorded or appraised yields for Federal crop insurance coverage that more accurately reflect the associated actuarial risk, except that the Corporation may not carry out this paragraph in a manner that would prevent beginning farmers (as defined by the Secretary) from obtaining Federal crop insurance;
(B)
establishing in counties, to the extent practicable, a crop insurance option based on area yields in a manner that allows an insured producer to qualify for an indemnity if a loss has occurred in a specified area in which the farm of the insured producer is located;
(C)
establishing a database that contains the social security account and employee identification numbers of participating producers, agents, and loss adjusters and using the numbers to identify insured producers, agents, and loss adjusters who are high risk for actuarial purposes and insured producers who have not documented at least 4 years of production history, to assess the performance of insurance providers, and for other purposes permitted by law; and
(D)
taking any other measures authorized by law to improve the actuarial soundness of the Federal crop insurance program while maintaining fairness and effective coverage for agricultural producers.
(2)
Projected loss ratio
(3)
Nonstandard classification system
(o)
Regulations
(p)
Purchase of American-made equipment and products
(1)
Sense of Congress
(2)
Notice requirement
(r)
3
3
 So in original. Probably should be “(q)”.
Procedures for responding to certain inquiries
(1)
Procedures required
(2)
Implementation
Not later than 180 days after June 23, 1998, the Corporation shall issue regulations to implement this subsection. At a minimum, the regulations shall establish—
(A)
the manner in which inquiries described in paragraph (1) are required to be submitted to the Corporation; and
(B)
a reasonable maximum number of days within which the Corporation will respond to all inquiries.
(3)
Effect of failure to timely respond
(Feb. 16, 1938, ch. 30, title V, § 506, 52 Stat. 73; June 21, 1941, ch. 214, § 2, 55 Stat. 255; Aug. 1, 1947, ch. 440, § 7, 61 Stat. 719; Aug. 25, 1949, ch. 512, § 8, 63 Stat. 665; Pub. L. 96–365, title I, §§ 103, 107(a), Sept. 26, 1980, 94 Stat. 1313, 1317; Pub. L. 101–624, title XXII, §§ 2201(a), 2202, Nov. 28, 1990, 104 Stat. 3951, 3954; Pub. L. 102–237, title VI, § 601(1), (2), Dec. 13, 1991, 105 Stat. 1878; Pub. L. 103–66, title I, § 1403(a), Aug. 10, 1993, 107 Stat. 333; Pub. L. 103–354, title I, §§ 104, 119(f)(1), Oct. 13, 1994, 108 Stat. 3181, 3208; Pub. L. 105–185, title V, § 533, June 23, 1998, 112 Stat. 583; Pub. L. 106–224, title I, §§ 121(b), 124(b), June 20, 2000, 114 Stat. 377, 378; Pub. L. 110–234, title XII, §§ 12002(a), (b)(1), 12003(a), 12033(c)(2)(B), May 22, 2008, 122 Stat. 1371, 1405; Pub. L. 110–246, § 4(a), title XII, §§ 12002(a), (b)(1), 12003(a), 12033(c)(2)(B), June 18, 2008, 122 Stat. 1664, 2133, 2167; Pub. L. 115–334, title XI, §§ 11102, 11103, Dec. 20, 2018, 132 Stat. 4919, 4920.)
cite as: 7 USC 1506