§ 1405.6 - Crop insurance requirement.

Copy with citation

Copy as parenthetical citation

To be eligible for any benefits or payments under 7 CFR part 1410 the producer must obtain at least the catastrophic level of insurance for each crop of economic significance in which the producer has an interest or provide a written waiver to the Secretary that waives any eligibility for emergency crop loss assistance in connection with the crop, if insurance is available in the county for the crop. In meeting this requirement, the producer may:

Obtain at least the catastrophic level of crop insurance in all counties for each crop of economic significance in which the producer has an interest;

Obtain at least the catastrophic level of crop insurance for some, but not all, crops of economic significance for which the producer has an interest, and sign a waiver; or

Sign a waiver that waives any eligibility for crop loss assistance in connection with the producer's crop.

Crop of economic significance. The term “crop of economic significance” means a crop that has contributed in the previous year, or is expected to contribute in the current crop year, 10 percent or more of the total expected value of all crops grown by the producer. However, notwithstanding the preceding sentence, if the total expected liability under the catastrophic risk protection endorsement is equal to or less than the administrative fee required for the crop, such crop will not be considered a crop of economic significance.

Previous Section

§ 1405.5 - Notice and comment.

Next Section

§ 1405.7 - Uruguay Round Agreements Act.