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15 U.S.C. § 38 — Association of marine insurance companies; application of antitrust laws

Federal law — U.S. Code and appendices · legal_authorities

15 U.S.C. § 38 — Association of marine insurance companies; application of antitrust laws

**(a)** Whenever used in this section— (1) The term “association” means any association, exchange, pool, combination, or other arrangement for concerted action; and (2) The term “marine insurance companies” means any persons, companies, or associations, authorized to write marine insurance or reinsurance under the laws of the United States or of a State, Territory, District, or possession thereof. **(b)** Nothing contained in the “antitrust laws” as designated in [section 12 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section12&num=0&edition=prelim), shall be construed as declaring illegal an association entered into by marine insurance companies for the following purposes: To transact a marine insurance and reinsurance business in the United States and in foreign countries and to reinsure or otherwise apportion among its membership the risks undertaken by such association or any of the component members.

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Source location: Title 15, Chapter 1, § 38; chapter-001-monopolies-and-combinations-in-restraint-of-trade.md

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Federal law — U.S. Code and appendices · legal_authorities

15 U.S.C. § 12 — Definitions; short title

**(a)** “Antitrust laws,” as used herein, includes the Act entitled “An Act to protect trade and commerce against unlawful restraints and monopolies,” approved July second, eighteen hundred and ninety; sections seventy-three to seventy-six, inclusive, of an Act entitled “An Act to reduce taxation, to provide revenue for the Government, and for other purposes,” of August twenty-seventh, eighteen hundred and ninety-four; an Act entitled “An Act to amend sections seventy-three and seventy-six of the Act of August twenty-seventh, eighteen hundred and ninety-four, entitled ‘An Act to reduce taxation, to provide revenue for the Government, and for other purposes,’ ” approved February twelfth, nineteen hundred and thirteen; and also this Act.“Commerce,” as used herein, means trade or commerce among the several States and with foreign nations, or between the District of Columbia or any Territory of the United States and any State, Territory, or foreign nation, or between any insular possessions or other places under the jurisdiction of the United States, or between any such possession or place and any State or Territory of the United States or the District of Columbia or any foreign nation, or within the District of Columbia or any Territory or any insular possession or other place under the jurisdiction of the United States: Provided, That nothing in this Act contained shall apply to the Philippine Islands. The word “person” or “persons” wherever used in this Act shall be deemed to include corporations and associations existing under or authorized by the laws of either the United States, the laws of any of the Territories, the laws of any State, or the laws of any foreign country. **(b)** This Act may be cited as the “Clayton Act”.

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Federal law — U.S. Code and appendices · legal_authorities

15 U.S.C. § 1014 — Effect on other laws

Nothing contained in this chapter shall be construed to affect in any manner the application to the business of insurance of the Act of July 5, 1935, as amended, known as the National Labor Relations Act [[29 U.S.C. 151](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section151&num=0&edition=prelim) et seq.], or the Act of June 25, 1938, as amended, known as the Fair Labor Standards Act of 1938 [[29 U.S.C. 201](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section201&num=0&edition=prelim) et seq.], or the Act of June 5, 1920, known as the Merchant Marine Act, 1920.

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Federal law — U.S. Code and appendices · legal_authorities

15 U.S.C. § 38 — Association of marine insurance companies;

Page 46 TITLE 15—COMMERCE AND TRADE § 38 to make an informed decision about a med- ical specialty or a residency program and be- fore residency programs could make an in- formed assessment of students’ qualifica- tions. This situation was inefficient, cha- otic, and unfair and it often led to place- ments that did not serve the interests of ei- ther medical students or residency pro- grams. (C) The original matching program, now operated by the independent non-profit Na- tional Resident Matching Program and pop- ularly known as ‘‘the Match’’, was developed and implemented more than 50 years ago in response to widespread student complaints about the prior process. This Program in- cludes on its board of directors individuals nominated by medical student organizations as well as by major medical education and hospital associations. (D) The Match uses a computerized mathe- matical algorithm, as students had rec- ommended, to analyze the preferences of students and residency programs and match students with their highest preferences from among the available positions in residency programs that listed them. Students thus obtain a residency position in the most high- ly ranked program on their list that has ranked them sufficiently high among its preferences. Each year, about 85 percent of participating United States medical stu- dents secure a place in one of their top 3 residency program choices. (E) Antitrust lawsuits challenging the matching process, regardless of their merit or lack thereof, have the potential to under- mine this highly efficient, pro-competitive, and long-standing process. The costs of de- fending such litigation would divert the scarce resources of our country’s teaching hospitals and medical schools from their crucial missions

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