(a) Establishment.—The Secretary shall establish for members of the Ready Reserve (including the Coast Guard Reserve) an insurance program to be known as the “Ready Reserve Mobilization Income Insurance Program”.
(b) Administration.—The insurance program shall be administered by the Secretary. The Secretary may prescribe in regulations such rules, procedures, and policies as the Secretary considers necessary or appropriate to carry out the insurance program.
(c) Agreement With Secretary of Homeland Security.—The Secretary and the Secretary of Homeland Security shall enter into an agreement with respect to the administration of the insurance program for the Coast Guard Reserve.
(Added Pub. L. 104–106, div. A, title V, § 512(a)(1), Feb. 10, 1996, 110 Stat. 299; amended Pub. L. 107–296, title XVII, § 1704(b)(1), (7), Nov. 25, 2002, 116 Stat. 2314.)
Editorial Notes
Amendments2002—Subsec. (c). Pub. L. 107–296 substituted “Homeland Security” for “Transportation” in heading and text.
Statutory Notes and Related Subsidiaries
Effective Date of 2002 AmendmentAmendment by Pub. L. 107–296 effective on the date of transfer of the Coast Guard to the Department of Homeland Security, see section 1704(g) of Pub. L. 107–296, set out as a note under section 101 of this title.
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