
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 23, 2000]
[Document not affected by Public Laws enacted between
  January 23, 2000 and December 4, 2001]
[CITE: 42USC9673]

 
                 TITLE 42--THE PUBLIC HEALTH AND WELFARE
 
  CHAPTER 103--COMPREHENSIVE ENVIRONMENTAL RESPONSE, COMPENSATION, AND 
                                LIABILITY
 
                   SUBCHAPTER IV--POLLUTION INSURANCE
 
Sec. 9673. Risk retention groups


(a) Exemption

    Except as provided in this section, a risk retention group shall be 
exempt from the following:
        (1) A State law, rule, or order which makes unlawful, or 
    regulates, directly or indirectly, the operation of a risk retention 
    group.
        (2) 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.
        (3) 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.
        (4) A State law, rule, or order which otherwise discriminates 
    against a risk retention group or any of its members.

(b) Exceptions

                 (1) State laws generally applicable

        Nothing in subsection (a) of this section 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.

           (2) State regulations not subject to exemption

        Subsection (a) of this section shall not apply to any State law 
    which requires a risk retention group to do any of the following:
            (A) Comply with the unfair claim settlement practices law of 
        the State.
            (B) 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.
            (C) 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.
            (D) 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.
            (E) Register with and designate the State insurance 
        commissioner as its agent solely for the purpose of receiving 
        service of legal documents or process.
            (F) 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.
            (G) 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--
                (i) the commissioner has reason to believe the risk 
            retention group is in a financially impaired condition; and
                (ii) the commissioner of the jurisdiction in which the 
            group is chartered has not begun or has refused to initiate 
            an examination of the group.

            (H) 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).

(c) Application of exemptions

    The exemptions specified in subsection (a) of this section apply 
to--
        (1) pollution liability insurance coverage provided by a risk 
    retention group for--
            (A) such group; or
            (B) any person who is a member of such group;

        (2) the sale of pollution liability insurance coverage for a 
    risk retention group; and
        (3) the provision of insurance related services or management 
    services for a risk retention group or any member of such a group.

(d) Agents or brokers

    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.

(Pub. L. 96-510, title IV, Sec. 403, as added Pub. L. 99-499, title II, 
Sec. 210(a), formerly Sec. 210, Oct. 17, 1986, 100 Stat. 1717; 
renumbered Sec. 210(a), Pub. L. 99-563, Sec. 11(c)(1), Oct. 27, 1986, 
100 Stat. 3177.)
