the Act) and particularly by Section 101 thereof, and as President of the United States, it is ordered as follows:

SECTION 1. The provisions of Sections 2 to 8, inclusive, of this order shall be applicable to the community of Los Alamos, New Mexico, but shall not be applicable to the community of Oak Ridge, Tennessee, or to the community of Richland, Washington.

SEC. 2. There are hereby transferred to the Housing and Home Finance Administrator (hereinafter called the Administrator) all of the functions, duties, and responsibilities of the Atomic Energy Commission (hereinafter called the Commission) (i) under Sections 34 to 36, inclusive, Sections 51 to 55, inclusive, Section 57, Sections 61 to 66, inclusive, and Section 116 of the Act, (ii) under the last sentence of Section 56 of the Act and (iii) with respect to sales of apartment buildings to cooperatives under Section 58 of the Act, with the following exceptions and qualifications:

(a) The Commission shall retain the power and duty of, and the responsibility for, (i) determining the property to be offered for disposal pursuant to Section 52 of the Act, including the timing thereof, the improvements to be designated as eligible for a credit under subsections 36a and 36b, the extent to which a lessee has been previously compensated for improvements under subsection 36a, and the provisions and procedures to be adopted pursuant to subsections 55b to 55e, inclusive, and (ii) removing, transferring or designating property pursuant to subsections 52a (1), 52a (2), and 52a (3).

(b) The Commission shall retain all duties functions and responsibilities under subsection 57b of the Act, both as to existing lots and lots developed or to be developed under the Act or any other Act, except as the Commission and the Administrator may mutually agree should be transferred to the Administrator.

SEC. 3. There shall be transferred to the Administrator, who shall thereafter exercise full jurisdiction in connection therewith, all interests, rights, powers, duties, and responsibilities of the United States, including any interests, rights, powers, duties, and responsibilities of the Commission under the Act or any act (except such interests, rights, powers, duties, and responsibilities as the Commission and the Administrator may mutually agree shall be retained by the Commission), with respect to the property designated by the Commission for disposal by the Administrator, pursuant to Section 52 of the Act.

SEC. 4. The transfers specified in Section 3 hereof shall be effective as to each parcel of property offered for disposal pursuant to Section 52 of the Act on the date the Administrator executes a deed as provided in Section 55, or a contract to purchase as provided in Section 61, with respect to each such parcel of property.

SEC. 5. To the extent necessary or appropriate to enable him to perform or exercise the functions, duties, and responsibilities transferred to him by this order, the Administrator, and such officers or employees to whom he may delegate authority with respect to such functions, duties, and responsibilities, may perform or exercise any of the functions, duties, or responsibilities conferred upon the Commission by the Act, including, specifically, Chapter 11 thereof. Any funds derived by the Commission from the disposal of property under the Act including funds derived from the disposal of property under

subsection 57b of the Act, shall be transferred to the Administrator, but shall otherwise remain subject to the provisions of Section 117

of the Act.

SEC. 6. The Commission and the Administrator shall keep each other currently advised as to action taken pursuant to the Act, shall consult with each other on all matters arising under the Act or this order which either agency deems to be of mutual concern, and may jointly agree upon such further measures, not inconsistent with the Act or this order, as will promote the expeditious and effective accomplishment of the policy and purposes of the Act.

SEC. 7. Executive Order No. 9816 of December 31, 1946, is hereby amended to the extent that it may be inconsistent with this order.

SEC. 8. Nothing in this order shall invalidate any action taken by the Commission prior to the effective date of this order, or impair or affect any outstanding obligations or contracts of the Commission, or impair any power or authority of the Commission with respect to functions not transferred by or pursuant to this order. No person affected by any action taken by either the Commission or the Administrator, or by any person acting under authority delegated to him consonant with law, shall be entitled to challenge the validity thereof or otherwise excuse his action or failure to act on the grounds that pursuant to the provisions of this order such action was within the jurisdiction of the Commission rather than the Administrator, or vice versa.

SEC. 9. Executive Order No. 10657 of February 14, 1956, as amended, is hereby further amended by adding at the end thereof a new Section 8, reading as follows:

"SEC. 8. Nothing in this order shall be applicable to the community of Los Alamos, New Mexico."

THE WHITE HOUSE, April 18, 1963.

JOHN F. KENNEDY.

§1

PROPERTY AND CRIME INSURANCE

EXCERPT FROM NATIONAL INSURANCE DEVELOPMENT ACT OF 1975 [Public Law 94-13, 89 Stat. 68, 12 U.S.C. 1749bbb note]

AN ACT To continue the national insurance development program Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That this Act may be cited as the "National Insurance Development Act of 1975".

SECTION 1. (a) The Congress finds that (1) under the Housing and Urban Development Act of 1968 (Public Law 90-448, approved August 1, 1968), as amended, the powers of the Secretary of the Department of Housing and Urban Development to enter into new reinsurance contracts with respect to the Federal riot reinsurance program and into new direct insurance contracts with respect to the Federal crime insurance program will terminate on April 30, 1975, except to the extent necessary (a) to continue policies of direct insurance and reinsurance, until April 30, 1978, (b) to handle claims and those arising under the policies still in force on the termination date of the program, and (c) to complete the liquidation and termination of the reinsurance and direct insurance programs; (2) continuation of the Federal riot reinsurance program is essential both to the operation of the system of State FAIR plans, which provide access for many people to basic property insurance not otherwise available in urban areas, and to the continued existence of such FAIR plans inasmuch as many State laws condition the very existence of such FAIR plans upon the continued existence of the Federal riot reinsurance program; (3) continuation of the Federal crime insurance program, which provides access for many homeowners, tenants, and small businessmen to burglary, robbery, and similar coverages in States where an insurance coverage availability problem exists, is likewise essential; (4) withdrawal at this time of the Federal support which these programs give to the insurance buying public and the insurers would be particularly ill timed and inadvisable in view of the (a) threatening major shortage of voluntary insurance facilities to which the consumer can turn to fulfill his insurance purchase needs and (b) the potential for insurer insolvencies inherent in times of economic stress; and (5) the impending tightening of the availability of insurance coverage in the insurance market will only intensify due to the present economic conditions confronting insurers, which affect the capital adequacies of insurers due to severe declines in the values of insurers' securities portfolios, thus impacting on their ability to increase their underwritings in a growing insurance market.

(b) The purpose of this Act, therefore, is to extend the duration of the national insurance development program so as to maintain the

Federal riot reinsurance program which reinsures the general property insurance business against the catastrophic peril of riot and, thus, makes this insurance available, together with its review and compliance function which assures that the intent of the Housing and Urban Development Act of 1968 (Public Law 90-448, approved August 1, 1968) as amended is carried out, as well as the Federal crime insurance program which provides basic crime insurance coverages in the States where it is needed, both of which programs aid the insurance purchasing consumer when, from time to time and especially in times such as these, insurers engage in conscious policies of market constriction which lead to serious inner-city insurance availability problems of the kind the national insurance development program has been created to ameliorate.

EXCERPTS FROM THE HOUSING AND URBAN DEVELOPMENT
ACT OF 1968

[Public Law 90-448, 82 Stat. 476; 12 U.S.C. 1749bbb, 42 U.S.C. 4011]

TITLE XI-URBAN PROPERTY PROTECTION AND REINSURANCE

SHORT TITLE

SEC. 1101. This title may be cited as the "Urban Property Protection and Reinsurance Act of 1968."

FINDINGS AND DECLARATION OF PURPOSE

SEC. 1102. (a) The Congress finds that (1) the vitality of many American cities is being threatened by the deterioration of their inner city areas; responsible owners of well-maintained residential, business, and other properties in many of these areas are unable to obtain adequate property insurance coverage against fire, crime, and other perils; the lack of such insurance coverage accelerates the deterioration of these areas by discouraging private investment and restricting the availability of credit to repair and improve property therein; and this deterioration poses a serious threat to the national economy; (2) recent riots and other civil commotion in many American cities have brought about abnormally high losses to the private property insurance industry for which adequate reinsurance cannot be obtained at reasonable cost, and the risk of such losses will make most lines of property insurance even more difficult to obtain; (3) the capacity of the private property insurance industry to provide adequate insurance is threatened, and the continuity of such property insurance protection is essential to the extension of credit in these areas; and (4) the national interest demands urgent action by the Congress to assure that essential lines of property insurance, including lines providing protection against riot and civil commotion damage will be available to property owners at reasonable cost.

(b) The purposes of this title are, therefore, to (1) encourage and assist the various State insurance authorities and the property insurance industry to develop and carry out statewide programs which will make necessary property insurance coverage against the fire, crime, and other perils more readily available for residential, business, and other properties meeting reasonable underwriting standards; (2) provide a Federal program of reinsurance against abnormally high property insurance losses resulting from riots and other civil commotion, placing appropriate financial responsibility upon the States to share in such losses; and (3)1 provide direct insurance through the facilities of the Federal Government in the case of properties for which statewide programs and the Federal reinsurance program either do not make crime insurance available or offer such insurance to property owners only at prohibitive cost.

AMENDMENT OF THE NATIONAL HOUSING ACT

SEC. 1103. The National Housing Act is amended by adding at the end thereof the following new title:

TITLE XII 2-NATIONAL INSURANCE DEVELOPMENT

PROGRAM

PROGRAM AUTHORITY

SEC. 1201. (a) The Secretary is authorized to establish and carry out the programs provided for in parts A, B, C, and D of this title. (b) (1) The powers of the Secretary under this title shall terminate on April 30, 1977,3 except to the extent necessary—

1 Sec. 601. Housing and Urban Development Act of 1970, Public Law 91-609, approved December 31, 1970, 84 Stat. 1770, 1788, inserted clause (3).

2 Sec. 1103, Housing and Urban Development Act of 1968, Public Law 90-448, approved August 1, 1968, 82 Stat. 476, 556, added Title XII. Sec. 602(a), Housing and Urban Development Act of 1970, Public Law 91-609, approved December 31, 1970, 84 Stat. 1770, 1788, amended section 1201 of title XII to provide new program authority for the direct crime insurance program, and to extend title XII from April 30, 1973, to April 30, 1975, except to the extent necessary to continue reinsurance and direct crime insurance from April 30, 1976, to April 30, 1978. Sec. 602 (a), Housing and Urban Development Act of 1970, supra, also extended from April 30, 1976, to April 30, 1978, or as soon thereafter as possible, the date for the Secretary to submit to the Congress for its approval a plan for the liquidation and termination of the reinsurance and direct insurance programs. Sec. 1102 of the 1968 Act made the following findings and declaration of purpose with respect to Title XII: SEC. 1102. (a) The Congress finds that (1) the vitality of many American cities is being threatened by the deterioration of their inner city areas; responsible owners of well-maintained residential, business, and other properties in many of these areas are unable to obtain adequate property insurance coverage against fire, crime, and other perils; the lack of such insurance coverage accelerates the deterioration of these areas by discouraging private investment and restricting the availability of credit to repair and improve property therein; and this deterioration posses a serious threat to the national economy; (2) recent riots and other civil commotion in many American cities have brought about abnormally high losses to the private property insurance industry for which adequate reinsurance cannot be obtained at reasonable cost, and the risk of such losses will make most lines of property insurance even more difficult to obtain; (3) the capacity of the private property insurance industry to provide adequate insurance is threatened, and the continuity of such property insurance protection is essential to the extension of credit in these areas; and (4) the national interest demands urgent action by the Congress to assure that essential lines of property insurance, including lines providing protection against riot and civil commotion damage will be available to property owners at reasonable cost.

(b) The purposes of this title are, therefore, to (1) encourage and assist the various State insurance authorities and the property insurance industry to develop and carry out statewide programs which will make necessary property insurance coverage against the fire, crime, and other perils more readily available for residential, business, and other properties meeting reasonable underwriting standards; and (2) provide a Federal program of reinsurance against abnormally high property insurance losses resulting from riots and other civil commotion, placing appropriate financial responsibility upon the States to share in such losses.

3 Sec. 2 of Public Law 94-13, 89 Stat. 68, approved April 8, 1974, substituted "April 30, 1977" for "April 30, 1975".