Public Law 85–111

That section 508 of the Federal Crop Insurance Act, as amended (7 U. S. C. 1508), is amended by adding a new subsection (f) to read as follows:

“(f)“(f)

Notwithstanding any other provision of this title, the corporation is hereby authorized, under such terms and conditions as it deems consistent with sound reinsurance principles, to provide reinsurance on any crop or plantation insurance provided in Puerto Rico by a duly authorized agency of the Commonwealth of Puerto Rico: Provided, That, no application for reinsurance authorized herein shall be approved, unless the corporation shall have determined that the reinsurance deemed necessary is not available from recognized private sources at reasonable cost.”

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