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United States · Law · S

S. 1193 (105th)

Aviation Insurance Reauthorization Act of 1997

enactedUnited States· United States Congress· EN

Introduced

18 September 1997

Last action

Status

Became Public Law No: 105-137.

Sponsors

Subjects

Discovery layer

Source updated

7 April 2025

Summary

Aviation Insurance Reauthorization Act of 1997 - Amends Federal law governing aviation insurance programs to require the Secretary of Transportation to determine the values of aircraft insurance and maximum insured amounts in accordance with reasonable business practices in the commercial aviation insurance industry. Provides that if an indemnity agreement made between the Secretary and a designated agency head is countersigned by the President (or the President's designee), it shall constitute a determination that continuation of the pertinent aircraft operations is necessary to implement U.S. foreign policy. Grants the Administrator of the Federal Aviation Administration borrowing authority as necessary to implement the aviation insurance program. Stipulates that such authority does not remove Department of Defense responsibilities to provide prompt indemnification for initial payments made by the Secretary for any loss covered by the Department of Defense-related non-premium aviation insurance. Authorizes appropriations to a revolving fund in the Treasury in order to pay principal and interest accruing from the Administrator's borrowing authority. Authorizes binding arbitration of claims for insurance policies issued by the Secretary. Extends the Secretary's authority to provide aviation insurance and reinsurance through FY 2002. Treats as a public aircraft any aircraft owned by the U.S. Government and operated by any person for purposes related to crew training, equipment development, or demonstration.

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12 official files

Enrolled Bill (text)

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