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15 U.S.C. § 8231 — Rule of construction

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

15 U.S.C. § 8231 — Rule of construction

Nothing in this chapter or the amendments made by this subtitle 11 See References in Text note below. shall be construed to modify, impair, or supersede the application of the antitrust laws. Any implied or actual conflict between this chapter and any amendments to this chapter and the antitrust laws shall be resolved in favor of the operation of the antitrust laws.

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Source location: Title 15, Chapter 108, § 8231; chapter-108-state-based-insurance-reform.md

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

15 U.S.C. § 8201 — Reporting, payment, and allocation of premium taxes

**(a) Home State’s exclusive authority** No State other than the home State of an insured may require any premium tax payment for nonadmitted insurance. **(b) Allocation of nonadmitted premium taxes** (1) **In general** — The States may enter into a compact or otherwise establish procedures to allocate among the States the premium taxes paid to an insured’s home State described in subsection (a). (2) **Effective date** — Except as expressly otherwise provided in such compact or other procedures, any such compact or other procedures— (A) if adopted on or before the expiration of the 330-day period that begins on July 21, 2010, shall apply to any premium taxes that, on or after July 21, 2010, are required to be paid to any State that is subject to such compact or procedures; and (B) if adopted after the expiration of such 330-day period, shall apply to any premium taxes that, on or after January 1 of the first calendar year that begins after the expiration of such 330-day period, are required to be paid to any State that is subject to such compact or procedures. (3) **Report** — Upon the expiration of the 330-day period referred to in paragraph (2), the NAIC may submit a report to the Committee on Financial Services and the Committee on the Judiciary of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate identifying and describing any compact or other procedures for allocation among the States of premium taxes that have been adopted during such period by any States. (4) **Nationwide system** — The Congress intends that each State adopt nationwide uniform requirements, forms, and procedures, such as an interstate compact, that provide for the reporting, payment, collection, and allocation of premium taxes for nonad

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

15 U.S.C. § 8231 — Rule of construction

Page 2409 TITLE 15—COMMERCE AND TRADE § 8301 1 See References in Text note below. (2) Receipt of information No provision of this section shall be con- strued as preventing or prohibiting a State that is not the State of domicile of a reinsurer from receiving a copy of any financial state- ment filed with its domiciliary State. (Pub. L. 111–203, title V, § 532, July 21, 2010, 124 Stat. 1595.) § 8223. Definitions For purposes of this subchapter, the following definitions shall apply: (1) Ceding insurer The term ‘‘ceding insurer’’ means an insurer that purchases reinsurance. (2) Domiciliary State The terms ‘‘State of domicile’’ and ‘‘domi- ciliary State’’ mean, with respect to an in- surer or reinsurer, the State in which the in- surer or reinsurer is incorporated or entered through, and licensed. (3) NAIC The term ‘‘NAIC’’ means the National Asso- ciation of Insurance Commissioners or any successor entity. (4) Reinsurance The term ‘‘reinsurance’’ means the assump- tion by an insurer of all or part of a risk un- dertaken originally by another insurer. (5) Reinsurer (A) In general The term ‘‘reinsurer’’ means an insurer to the extent that the insurer— (i) is principally engaged in the business of reinsurance; (ii) does not conduct significant amounts of direct insurance as a percentage of its net premiums; and (iii) is not engaged in an ongoing basis in the business of soliciting direct insurance. (B) Determination A determination of whether an insurer is a reinsurer shall be made under the laws of the State of domicile in accordance with this paragraph. (6) State The term ‘‘State’’ includes any State of the United States, the District of Columbia, the Commonwealth of Puerto Rico, Guam, the Northern Mariana Islands, the Virgin Island

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