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Page:United States Statutes at Large Volume 61 Part 1.djvu/742

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PUBLIC LAWS-CHS. 439, 440-AUG. 1, 1947 [CHAPTER 439] August 1, 1947 [S. 1215] [Public Law 319] August 1, 1947 IS. 1326] [Public Law 320] 62 Stat. 74 . 7U.S. C. 1508(a). Reinsurance for pri- vate insurance com- panies. Insurance against loss in yield. Reduction of maxi- mum percentage. Losses due to neg- lect, etc. Insurance in 1948. AN ACT To authorize conversions of certain naval vessels. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,That, for the purpose of improving the military characteristics of combatant and auxiliary vessels of the United States Navy, the President of the United States is hereby authorized to convert such vessels as he may consider best suited for the purposes of national defense without limitation on expenditures for any one vessel within the total sum appropriated for the purpose. Approved August 1, 1947. [CHAPTER 440] AN ACT To amend the Federal Crop Insurance Act. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That subsection (a) of section 508 of the Federal Crop Insurance Act, as amended, is amended to read as follows: "(a) Commencing with crops planted for harvest in 1948, for the purpose of determining the most practical plan, terms, and conditions of insurance for agricultural commodities, if sufficient actuarial data are available, as determined by the Board, to insure, or to reinsure insurers of, producers of such agricultural commodities under any plan or plans of insurance determined by the Board to be adapted to any such commodity: Provided, That reinsurance for private insurance companies shall be limited to contracts covering farms in not to exceed twenty counties selected by the Board. Such insurance shall be against loss of the insured commodity while in the field due to unavoidable causes, including drought, flood, hail, wind, frost, winter-kill, lightning, fire, excessive rain, snow, wildlife, hurricane, tornado, insect infesta- tion, plant disease, and such other unavoidable causes as may be deter- mined by the Board. Any insurance offered against loss in yield shall not cover in excess of 75 per centum of the recorded or appraised average yield of the commodity on the insured farm for a represen- tative period subject to such adjustments as the Board may prescribe to the end that the average yields fixed for farms in the same area, which are subject to the same conditions, may be fair and just: Pro- vided, That, if 75 per centum of the average yield represents generally more protection than the investment in the crop in any area, taking into consideration recognized farming practices, the Board shall reduce such maximum percentage so as more nearly to reflect the investment in the crop in such area. Insurance provided under this subsection shall not cover losses due to the neglect or malfeasance of the pro- ducer, or to the failure of the producer to reseed to the same crop in areas and under circumstances where it is customary to so reseed, or to the failure of the producer to follow established good farming practices. In 1948 insurance shall be limited to not more than seven crops (including wheat, cotton, flax, corn, and tobacco) and to not more than three additional crops in each year thereafter. Insurance provided for any agricultural commodity, except wheat, cotton, flax, corn, and tobacco shall be limited to producers in not to exceed twenty counties. Insurance for wheat, cotton, corn, flax, and tobacco shall be limited to producers in not to exceed two hundred counties in the case of wheat, fifty-six counties in the case of cotton, fifty counties each in the case of corn and flax, and thirty-five counties in the case of 718 [61 STAT.