Review.

CFR · 2024-01-01 · US · Title 7

(a) Prior to providing a 508(h) submission, concept proposal, or index-based weather plan of insurance to the Board, RMA will: (1) Review the 508(h) submission, concept proposal, or index-based weather plan of insurance to determine if all required documentation is included in accordance with § 400.705; (2) Review the 508(h) submission, concept proposal, or index-based weather plan of insurance to determine whether it is of sufficient quality to conduct a meaningful review such that the Board will be able to make an informed decision regarding approval or disapproval; (3) In accordance with section 508(h)(1)(B) of the Act, at its sole discretion, determine if the policy or plan of insurance: (i) Will likely result in a viable and marketable policy; (ii) Will provide crop insurance coverage in a significantly improved form; and (iii) Adequately protect the interests of producers. (4) RMA may reject and return any 508(h) submission, concept proposal, or index based weather plan of insurance that: (i) Is not complete; (ii) Is unlikely to result in a viable and marketable policy; (iii) Will not provide crop insurance coverage in a significantly improved form; and (iv) Will not adequately protect the interests of producers. (5) Except as provided in paragraph (a)(4) of this section, forward the 508(h) submission, concept proposal, or index- (b) Upon the Board's receipt of a 508(h) submission, the Board will: (1) Determine if the 508(h) submission is complete (the date the Board vo

official document · source cfr-2024 · id 7:§ 400.706