42 U.S. Code § 9673 - Risk retention groups
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.
(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:
(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
(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—