The term “insurance” means primary insurance, excess insurance, reinsurance, surplus lines insurance, and any other arrangement for shifting and distributing risk which is determined to be insurance under applicable State or Federal law.
(2) Pollution liability
The term “pollution liability” means liability for injuries arising from the release of hazardous substances or pollutants or contaminants.
(3) Risk retention group
The term “risk retention group” means any corporation or other limited liability association taxable as a corporation, or as an insurance company, formed under the laws of any State—
(A)whose primary activity consists of assuming and spreading all, or any portion, of the pollution liability of its group members;
(B)which is organized for the primary purpose of conducting the activity described under subparagraph (A);
(C)which is chartered or licensed as an insurance company and authorized to engage in the business of insurance under the laws of any State; and
(D)which does not exclude any person from membership in the group solely to provide for members of such a group a competitive advantage over such a person.
(4) Purchasing group
The term “purchasing group” means any group of persons which has as one of its purposes the purchase of pollution liability insurance on a group basis.
The term “State” means any State of the United States, the District of Columbia, the Commonwealth of Puerto Rico, Guam, American Samoa, the Virgin Islands, the Commonwealth of the Northern Marianas, and any other territory or possession over which the United States has jurisdiction.
State Powers and Authorities Under Risk Retention Amendments of 1986
Pub. L. 99–499, title II, § 210(b), as added by Pub. L. 99–563, § 11(c)(1),Oct. 27, 1986, 100 Stat. 3177, provided that: “For purposes of subsection (a) of this section [enacting this subchapter], the powers and authorities of States addressed by the Risk Retention Amendments of 1986 [Pub. L. 99–563, see Short Title of 1986 Amendment note set out under section
3901 of Title
15, Commerce and Trade] are in addition to those of this Act [see Short Title of 1986 Amendment note set out under section
9601 of this title].”
The table below lists the classification updates, since Jan. 3, 2012, for this section. Updates to a broader range of sections may be found at the update page for containing chapter, title, etc.
The most recent Classification Table update that we have noticed was Tuesday, August 13, 2013
An empty table indicates that we see no relevant changes listed in the classification tables. If you suspect that our system may be missing something, please double-check with the Office of the Law Revision Counsel.