42 U.S.C. § 4027b - U.S. Code - Unannotated Title 42. The Public Health and Welfare § 4027b. Assessment of claims-paying ability

(i)In general

Not later than September 30 of each year, the Administrator shall conduct an assessment of the ability of the National Flood Insurance Program to pay claims.

(ii)Private market reinsurance

The assessment under this paragraph for any year in which the Administrator exercises the authority under section 4055(a)(2) of this title, as added by this section, to secure reinsurance of coverage provided by the National Flood Insurance Program from the private market shall include information relating the use of private sector reinsurance and reinsurance equivalents by the Administrator, whether or not the Administrator used the borrowing authority under section 4016 of this title.

(iii)First assessment

The Administrator shall conduct the first assessment required under this paragraph not later than September 30, 2012.