(a) An insurer will be deemed to be in compliance with the requirements of the Act to the extent the insurer reasonably relied on Interim Guidance prior to the effective date of applicable regulations.
(b) For purposes of this section, any Interim Guidance will be posted by Treasury at https://home.treasury.gov/policy-issues/financial-markets-financial-institutions-and-fiscal-service/federal-insurance-office/terrorism-risk-insurance-program.
[81 FR 93765, Dec. 21, 2016, as amended at 86 FR 30540, June 9, 2021]
authority: 5 U.S.C. 301;
31 U.S.C. 321; Title I, Pub. L. 107-297, 116 Stat. 2322, as amended by Pub. L. 109-144, 119 Stat. 2660, Pub. L. 110-160, 121 Stat. 1839, Pub. L. 114-1, 129 Stat. 3, and Pub. L. 116-94, 133 Stat. 2534 (
15 U.S.C. 6701 note); Pub. L. 114-74, 129 Stat. 601, Title VII (
28 U.S.C. 2461 note)
source: 81 FR 93765, Dec. 21, 2016, unless otherwise noted.
cite as: 31 CFR 50.6