400.708—Approved submission.
(a)
After a submission is approved by the Board, and prior to it being made available for sale to producers, the following items, as applicable, must be completed:
(i)
The responsibilities of each with respect to the implementation, delivery and oversight of the submission; and
(ii)
That the property rights to the submission automatically transfers to FCIC if the applicant elects not to maintain the submission and FCIC has paid any amounts under § 400.712.
(2)
A reinsurance agreement if terms and conditions differ from the available existing reinsurance agreements.
(b)
A submission approved by the Board under this subpart will be made available to all approved insurance providers under the same reinsurance and subsidy terms and conditions as received by the applicant.
(c)
Any solicitation, sales, marketing, or advertising of the approved submission by the applicant before FCIC has made the submission and related materials available to all interested parties through its official issuance system will result in the denial of reinsurance, risk subsidy, and A&O subsidy for those policies affected.