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 Islands, and American Samoa. (Pub. L. 111–203, title V, § 533, July 21, 2010, 124 Stat. 1595.) SUBCHAPTER III—RULE OF CONSTRUCTION § 8231. Rule of construction Nothing in this chapter or the amendments made by this subtitle 1 shall be construed to modify, impair, or supersede the application of the antitrust laws. Any implied or actual con- flict between this chapter and any amendments to this chapter and the antitrust laws shall be resolved in favor of the operation of the anti- trust laws. (Pub. L. 111–203, title V, § 541, July 21, 2010, 124 Stat. 1596.) Editorial Notes REFERENCES IN TEXT This subtitle, referred to in text, is subtitle B (§§ 511–542) of title V of Pub. L. 111–203, which enacted this chapter and provisions set out as notes under sec- tion 8201 of this title. Subtitle B did not make any amendments. § 8232. Severability If any section or subsection of this chapter, or any application of such provision to any person or circumstance, is held to be unconstitutional, the remainder of this chapter, and the applica- tion of the provision to any other person or cir- cumstance, shall not be affected. (Pub. L. 111–203, title V, § 542, July 21, 2010, 124 Stat. 1596.) CHAPTER 109—WALL STREET TRANSPARENCY AND ACCOUNTABILITY SUBCHAPTER I—REGULATION OF OVER-THE- COUNTER SWAPS MARKETS PART A—REGULATORY AUTHORITY Sec. 8301. Definitions. 8302. Review of regulatory authority. 8303. Abusive swaps. 8304. Authority to prohibit participation in swap activities. 8305. Prohibition against Federal Government bail- outs of swaps entities. 8306. Determining status of novel derivative prod- ucts. 8307. Studies. 8308. Memorandum. PART B—REGULATION OF SWAP MARKETS 8321. Authority to define terms. 8322. Authority of FERC. 8323. Rulemaking on conflict of interest. 8324. Savings clause. 8325. International harmonization. SUBCHAPTER II—REGULATION OF SECURITY- BASED SWAP MARKETS 8341. Authority to further define terms. 8342. Savings clause. 8343. Rulemaking on conflict of interest. 8344. Other authority. SUBCHAPTER I—REGULATION OF OVER- THE-COUNTER SWAPS MARKETS PART A—REGULATORY AUTHORITY § 8301. Definitions In this subtitle, the terms ‘‘prudential regu- lator’’, ‘‘swap’’, ‘‘swap dealer’’, ‘‘major swap par- ticipant’’, ‘‘swap data repository’’, ‘‘associated person of a swap dealer or major swap partici- pant’’, ‘‘eligible contract participant’’, ‘‘swap execution facility’’, ‘‘security-based swap’’, ‘‘se- curity-based swap dealer’’, ‘‘major security- based swap participant’’, and ‘‘associated person of a security-based swap dealer or major secu-