46 U.S.C. § 53905: Agency insurance

Summary

A U.S. agency can get insurance from the Secretary of Transportation under this chapter, but only if the President agrees and except where sections 17302 and 17303 of title 40 apply. If the President agrees, the Secretary of Transportation can offer the insurance without charging a premium when the Secretary of Defense or another agency the President names asks and agrees to cover any losses. The President’s (or a person the President names) signature on the agreement counts as the approval required by section 53902(a).

Title 46, §53905

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(a)In General.—

With the approval of the President, an agency of the United States Government may obtain insurance provided for by this chapter from the Secretary of Transportation, except as provided in section 17302 and 17303 of title 40.

(b)Premium Waivers.—

With the approval of the President, the Secretary of Transportation may provide insurance under this chapter at the request of the Secretary of Defense and other agencies the President may prescribe, without payment of an insurance premium if the Secretary of Defense or agency agrees to indemnify the Secretary of Transportation against loss covered by the insurance. The Secretary of Defense and agencies may make such an indemnity agreement.

(c)Presidential Approval.—

The signature of the President (or an official designated by the President) on the agreement shall be treated as the approval required by section 53902(a) of this title.

Historical and Revision Notes

Revised SectionSource (U.S. Code)Source (Statutes at Large) 5390546 App.:1285.June 29, 1936, ch. 858, title XII, § 1205, as added Sept. 7, 1950, ch. 906, 64 Stat. 774; Pub. L. 105–261, div. A, title X, § 1071(a), Oct. 17, 1998, 112 Stat. 2137.

§53905 Agency Insurance

Summary

Title 46, §53905

Notes & Related Subsidiaries

Historical and Revision Notes

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