{"identifier":"/us/usc/t42/s9673","title_num":"42","num":"§ 9673.","heading":"Risk retention groups","status":null,"guid":"id79d8b0da-4aa7-11eb-94f5-9ff2c44f6f3c","source_credit":"(Pub. L. 96–510, title IV, § 403, as added Pub. L. 99–499, title II, § 210(a), formerly § 210, Oct. 17, 1986, 100 Stat. 1717; renumbered § 210(a), Pub. L. 99–563, § 11(c)(1), Oct. 27, 1986, 100 Stat. 3177.)","seq_in_title":5890,"parent_identifier":"/us/usc/t42/ch103/schIV","ancestors":[{"identifier":"/us/usc/t42","level":"title","num":"Title 42—","heading":"THE PUBLIC HEALTH AND WELFARE","status":null,"is_section":false},{"identifier":"/us/usc/t42/ch103","level":"chapter","num":"CHAPTER 103—","heading":"COMPREHENSIVE ENVIRONMENTAL RESPONSE, COMPENSATION, AND LIABILITY","status":null,"is_section":false},{"identifier":"/us/usc/t42/ch103/schIV","level":"subchapter","num":"SUBCHAPTER IV—","heading":"POLLUTION INSURANCE","status":null,"is_section":false}],"xml":"<section xmlns=\"http://xml.house.gov/schemas/uslm/1.0\" xmlns:xsi=\"http://www.w3.org/2001/XMLSchema-instance\" xmlns:dc=\"http://purl.org/dc/elements/1.1/\" xmlns:dcterms=\"http://purl.org/dc/terms/\" style=\"-uslm-lc:I80\" id=\"idacbbd3e3-09a0-11eb-a85b-f5cef3d06f4d\" identifier=\"/us/usc/t42/s9673\"><num value=\"9673\">§ 9673.</num><heading> Risk retention groups</heading><subsection style=\"-uslm-lc:I19\" class=\"indent2 firstIndent-2\" id=\"idacbbd3e4-09a0-11eb-a85b-f5cef3d06f4d\" identifier=\"/us/usc/t42/s9673/a\"><num value=\"a\" class=\"bold\">(a)</num><heading class=\"bold\"> Exemption</heading><chapeau style=\"-uslm-lc:I11\" class=\"indent0\">Except as provided in this section, a risk retention group shall be exempt from the following:</chapeau><paragraph style=\"-uslm-lc:I12\" class=\"indent1\" id=\"idacbbd3e5-09a0-11eb-a85b-f5cef3d06f4d\" identifier=\"/us/usc/t42/s9673/a/1\"><num value=\"1\">(1)</num><content> A State law, rule, or order which makes unlawful, or regulates, directly or indirectly, the operation of a risk retention group.</content>\n</paragraph>\n<paragraph style=\"-uslm-lc:I12\" class=\"indent1\" id=\"idacbbd3e6-09a0-11eb-a85b-f5cef3d06f4d\" identifier=\"/us/usc/t42/s9673/a/2\"><num value=\"2\">(2)</num><content> A State law, rule, or order which requires or permits a risk retention group to participate in any insurance insolvency guaranty association to which an insurer licensed in the State is required to belong.</content>\n</paragraph>\n<paragraph style=\"-uslm-lc:I12\" class=\"indent1\" id=\"idacbbd3e7-09a0-11eb-a85b-f5cef3d06f4d\" identifier=\"/us/usc/t42/s9673/a/3\"><num value=\"3\">(3)</num><content> A State law, rule, or order which requires any insurance policy issued to a risk retention group or any member of the group to be countersigned by an insurance agent or broker residing in the State.</content>\n</paragraph>\n<paragraph style=\"-uslm-lc:I12\" class=\"indent1\" id=\"idacbbd3e8-09a0-11eb-a85b-f5cef3d06f4d\" identifier=\"/us/usc/t42/s9673/a/4\"><num value=\"4\">(4)</num><content> A State law, rule, or order which otherwise discriminates against a risk retention group or any of its members.</content>\n</paragraph>\n</subsection>\n<subsection style=\"-uslm-lc:I19\" class=\"indent2 firstIndent-2\" id=\"idacbbd3e9-09a0-11eb-a85b-f5cef3d06f4d\" identifier=\"/us/usc/t42/s9673/b\"><num value=\"b\" class=\"bold\">(b)</num><heading class=\"bold\"> Exceptions</heading><paragraph style=\"-uslm-lc:I79\" class=\"indent3 firstIndent-2\" id=\"idacbbd3ea-09a0-11eb-a85b-f5cef3d06f4d\" identifier=\"/us/usc/t42/s9673/b/1\"><num value=\"1\" class=\"bold\">(1)</num><heading class=\"bold\"> State laws generally applicable</heading><content><p style=\"-uslm-lc:I12\" class=\"indent1\">Nothing in subsection (a) shall be construed to affect the applicability of State laws generally applicable to persons or corporations. The State in which a risk retention group is chartered may regulate the formation and operation of the group.</p>\n</content>\n</paragraph>\n<paragraph style=\"-uslm-lc:I79\" class=\"indent3 firstIndent-2\" id=\"idacbbfafb-09a0-11eb-a85b-f5cef3d06f4d\" identifier=\"/us/usc/t42/s9673/b/2\"><num value=\"2\" class=\"bold\">(2)</num><heading class=\"bold\"> State regulations not subject to exemption</heading><chapeau style=\"-uslm-lc:I12\" class=\"indent1\">Subsection (a) shall not apply to any State law which requires a risk retention group to do any of the following:</chapeau><subparagraph style=\"-uslm-lc:I13\" class=\"indent2\" id=\"idacbbfafc-09a0-11eb-a85b-f5cef3d06f4d\" identifier=\"/us/usc/t42/s9673/b/2/A\"><num value=\"A\">(A)</num><content> Comply with the unfair claim settlement practices law of the State.</content>\n</subparagraph>\n<subparagraph style=\"-uslm-lc:I13\" class=\"indent2\" id=\"idacbbfafd-09a0-11eb-a85b-f5cef3d06f4d\" identifier=\"/us/usc/t42/s9673/b/2/B\"><num value=\"B\">(B)</num><content> Pay, on a nondiscriminatory basis, applicable premium and other taxes which are levied on admitted insurers and surplus line insurers, brokers, or policyholders under the laws of the State.</content>\n</subparagraph>\n<subparagraph style=\"-uslm-lc:I13\" class=\"indent2\" id=\"idacbbfafe-09a0-11eb-a85b-f5cef3d06f4d\" identifier=\"/us/usc/t42/s9673/b/2/C\"><num value=\"C\">(C)</num><content> Participate, on a nondiscriminatory basis, in any mechanism established or authorized under the law of the State for the equitable apportionment among insurers of pollution liability insurance losses and expenses incurred on policies written through such mechanism.</content>\n</subparagraph>\n<subparagraph style=\"-uslm-lc:I13\" class=\"indent2\" id=\"idacbbfaff-09a0-11eb-a85b-f5cef3d06f4d\" identifier=\"/us/usc/t42/s9673/b/2/D\"><num value=\"D\">(D)</num><content> Submit to the appropriate authority reports and other information required of licensed insurers under the laws of a State relating solely to pollution liability insurance losses and expenses.</content>\n</subparagraph>\n<subparagraph style=\"-uslm-lc:I13\" class=\"indent2\" id=\"idacbbfb00-09a0-11eb-a85b-f5cef3d06f4d\" identifier=\"/us/usc/t42/s9673/b/2/E\"><num value=\"E\">(E)</num><content> Register with and designate the State insurance commissioner as its agent solely for the purpose of receiving service of legal documents or process.</content>\n</subparagraph>\n<subparagraph style=\"-uslm-lc:I13\" class=\"indent2\" id=\"idacbbfb01-09a0-11eb-a85b-f5cef3d06f4d\" identifier=\"/us/usc/t42/s9673/b/2/F\"><num value=\"F\">(F)</num><content> Furnish, upon request, such commissioner a copy of any financial report submitted by the risk retention group to the commissioner of the chartering or licensing jurisdiction.</content>\n</subparagraph>\n<subparagraph style=\"-uslm-lc:I13\" class=\"indent2\" id=\"idacbbfb02-09a0-11eb-a85b-f5cef3d06f4d\" identifier=\"/us/usc/t42/s9673/b/2/G\"><num value=\"G\">(G)</num><chapeau> Submit to an examination by the State insurance commissioner in any State in which the group is doing business to determine the group’s financial condition, if—</chapeau><clause style=\"-uslm-lc:I14\" class=\"indent3\" id=\"idacbbfb03-09a0-11eb-a85b-f5cef3d06f4d\" identifier=\"/us/usc/t42/s9673/b/2/G/i\"><num value=\"i\">(i)</num><content> the commissioner has reason to believe the risk retention group is in a financially impaired condition; and</content>\n</clause>\n<clause style=\"-uslm-lc:I14\" class=\"indent3\" id=\"idacbbfb04-09a0-11eb-a85b-f5cef3d06f4d\" identifier=\"/us/usc/t42/s9673/b/2/G/ii\"><num value=\"ii\">(ii)</num><content> the commissioner of the jurisdiction in which the group is chartered has not begun or has refused to initiate an examination of the group.</content>\n</clause>\n</subparagraph>\n<subparagraph style=\"-uslm-lc:I13\" class=\"indent2\" id=\"idacbbfb05-09a0-11eb-a85b-f5cef3d06f4d\" identifier=\"/us/usc/t42/s9673/b/2/H\"><num value=\"H\">(H)</num><content> Comply with a lawful order issued in a delinquency proceeding commenced by the State insurance commissioner if the commissioner of the jurisdiction in which the group is chartered has failed to initiate such a proceeding after notice of a finding of financial impairment under subparagraph (G).</content>\n</subparagraph>\n</paragraph>\n</subsection>\n<subsection style=\"-uslm-lc:I19\" class=\"indent2 firstIndent-2\" id=\"idacbbfb06-09a0-11eb-a85b-f5cef3d06f4d\" identifier=\"/us/usc/t42/s9673/c\"><num value=\"c\" class=\"bold\">(c)</num><heading class=\"bold\"> Application of exemptions</heading><chapeau style=\"-uslm-lc:I11\" class=\"indent0\">The exemptions specified in subsection (a) apply to—</chapeau><paragraph style=\"-uslm-lc:I12\" class=\"indent1\" id=\"idacbbfb07-09a0-11eb-a85b-f5cef3d06f4d\" identifier=\"/us/usc/t42/s9673/c/1\"><num value=\"1\">(1)</num><chapeau> pollution liability insurance coverage provided by a risk retention group for—</chapeau><subparagraph style=\"-uslm-lc:I13\" class=\"indent2\" id=\"idacbbfb08-09a0-11eb-a85b-f5cef3d06f4d\" identifier=\"/us/usc/t42/s9673/c/1/A\"><num value=\"A\">(A)</num><content> such group; or</content>\n</subparagraph>\n<subparagraph style=\"-uslm-lc:I13\" class=\"indent2\" id=\"idacbbfb09-09a0-11eb-a85b-f5cef3d06f4d\" identifier=\"/us/usc/t42/s9673/c/1/B\"><num value=\"B\">(B)</num><content> any person who is a member of such group;</content>\n</subparagraph>\n</paragraph>\n<paragraph style=\"-uslm-lc:I12\" class=\"indent1\" id=\"idacbbfb0a-09a0-11eb-a85b-f5cef3d06f4d\" identifier=\"/us/usc/t42/s9673/c/2\"><num value=\"2\">(2)</num><content> the sale of pollution liability insurance coverage for a risk retention group; and</content>\n</paragraph>\n<paragraph style=\"-uslm-lc:I12\" class=\"indent1\" id=\"idacbbfb0b-09a0-11eb-a85b-f5cef3d06f4d\" identifier=\"/us/usc/t42/s9673/c/3\"><num value=\"3\">(3)</num><content> the provision of insurance related services or management services for a risk retention group or any member of such a group.</content>\n</paragraph>\n</subsection>\n<subsection style=\"-uslm-lc:I19\" class=\"indent2 firstIndent-2\" id=\"idacbbfb0c-09a0-11eb-a85b-f5cef3d06f4d\" identifier=\"/us/usc/t42/s9673/d\"><num value=\"d\" class=\"bold\">(d)</num><heading class=\"bold\"> Agents or brokers</heading><content><p style=\"-uslm-lc:I11\" class=\"indent0\">A State may require that a person acting, or offering to act, as an agent or broker for a risk retention group obtain a license from that State, except that a State may not impose any qualification or requirement which discriminates against a nonresident agent or broker.</p>\n</content>\n</subsection>\n<sourceCredit id=\"idacbbfb0d-09a0-11eb-a85b-f5cef3d06f4d\">(<ref href=\"/us/pl/96/510/tIV/s403\">Pub. L. 96–510, title IV, § 403</ref>, as added <ref href=\"/us/pl/99/499/tII/s210/a\">Pub. L. 99–499, title II, § 210(a)</ref>, formerly § 210, <date date=\"1986-10-17\">Oct. 17, 1986</date>, <ref href=\"/us/stat/100/1717\">100 Stat. 1717</ref>; renumbered § 210(a), <ref href=\"/us/pl/99/563/s11/c/1\">Pub. L. 99–563, § 11(c)(1)</ref>, <date date=\"1986-10-27\">Oct. 27, 1986</date>, <ref href=\"/us/stat/100/3177\">100 Stat. 3177</ref>.)</sourceCredit>\n</section>","provision":null,"duplicates":[],"release":{"label":"116-252","currency_date":"2020-12-22","congress":116,"law_num":252,"excluded_laws":[],"update_num":null,"seq":222,"is_partial":false,"caveat":null,"titles_affected":["18","20","31","34","40","42"],"ingested_titles":[]},"served_from":{"label":"116-252","currency_date":"2020-12-22","congress":116,"law_num":252,"excluded_laws":[],"update_num":null,"seq":222,"is_partial":false,"caveat":null,"titles_affected":["18","20","31","34","40","42"],"ingested_titles":[]},"content_first_seen":{"label":"116-163","currency_date":"2020-10-02","congress":116,"law_num":163,"excluded_laws":[],"update_num":null,"seq":214,"is_partial":false,"caveat":null,"titles_affected":["01","02","03","06","07","08","10","15","17","18","21","22","23","26","28","31","35","36","38","40","42","45","49","50"],"ingested_titles":[]},"is_exact":true,"note":null}