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 of patient care, physician training, and medical research. In addition, such costs may lead to abandonment of the matching process, which has effectively served the interests of medical students, teaching hospitals, and patients for over half a century. (2) Purposes It is the purpose of this section to— (A) confirm that the antitrust laws do not prohibit sponsoring, conducting, or partici- pating in a graduate medical education resi- dency matching program, or agreeing to do so; and (B) ensure that those who sponsor, conduct or participate in such matching programs are not subjected to the burden and expense of defending against litigation that chal- lenges such matching programs under the antitrust laws. (b) Application of antitrust laws to graduate medical education residency matching pro- grams (1) Definitions In this subsection: (A) Antitrust laws The term ‘‘antitrust laws’’— (i) has the meaning given such term in subsection (a) of section 12 of this title, ex- cept that such term includes section 45 of this title to the extent such section 45 ap- plies to unfair methods of competition; and (ii) includes any State law similar to the laws referred to in clause (i). (B) Graduate medical education program The term ‘‘graduate medical education program’’ means— (i) a residency program for the medical education and training of individuals fol- lowing graduation from medical school; (ii) a program, known as a specialty or subspecialty fellowship program, that pro- vides more advanced training; and (iii) an institution or organization that operates, sponsors or participates in such a program. (C) Graduate medical education residency matching program The term ‘‘graduate medical education residency matching program’’ means a pro- gram (such as those conducted by the Na- tional Resident Matching Program) that, in connection with the admission of students to graduate medical education programs, uses an algorithm and matching rules to match students in accordance with the preferences of students and the preferences of graduate medical education programs. (D) Student The term ‘‘student’’ means any individual who seeks to be admitted to a graduate med- ical education program. (2) Confirmation of antitrust status It shall not be unlawful under the antitrust laws to sponsor, conduct, or participate in a graduate medical education residency match- ing program, or to agree to sponsor, conduct, or participate in such a program. Evidence of any of the conduct described in the preceding sentence shall not be admissible in Federal court to support any claim or action alleging a violation of the antitrust laws. (3) Applicability Nothing in this section shall be construed to exempt from the antitrust laws any agreement on the part of 2 or more graduate medical edu- cation programs to fix the amount of the sti- pend or other benefits received by students participating in such programs. (c) Effective date This section shall take effect on April 10, 2004, shall apply to conduct whether it occurs prior to, on, or after April 10, 2004, and shall apply to all judicial and administrative actions or other proceedings pending on April 10, 2004. (Pub. L. 108–218, title II, § 207, Apr. 10, 2004, 118 Stat. 611.) § 38. Association of marine insurance companies; application of antitrust laws (a) Whenever used in this section— (1) The term ‘‘association’’ means any asso- ciation, exchange, pool, combination, or other arrangement for concerted action; and Page 47 TITLE 15—COMMERCE AND TRADE § 38 (2) The term ‘‘marine insurance companies’’ means any persons, companies, or associa- tions, 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, shall be construed as declaring illegal an association en- tered into by marine insurance companies for the following purposes: To transact a marine in- surance 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. (June 5, 1920, ch. 250, § 29, 41 Stat. 1000.) Editorial Notes CODIFICATION Section was classified to section 885 of the former Ap- pendix to Title 46, prior to the completion of the enact- ment of Title 46, Shipping, by Pub. L. 109–304, Oct. 6, 2006, 120 Stat. 1485. CHAPTER 2—FEDERAL TRADE COMMISSION; PROMOTION OF EXPORT TRADE AND PRE- VENTION OF UNFAIR METHODS OF COM- PETITION SUBCHAPTER I—FEDERAL TRADE COMMISSION Sec. 41. Federal Trade Commission established; mem- bership; vacancies; seal. 42. Employees; expenses. 43. Office and place of meeting. 44. Definitions. 45. Unfair methods of competition unlawful; pre- vention by Commission. 45a. Labels on products. 45b. Consumer review protection. 45c. Unfair and deceptive acts and practices relat- ing to circumvention of ticket access con- trol measures. 45d. Unfair or deceptive acts or practices with re- spect to substance use disorder treatment service and products. 45e. Office for the prevention of fraud targeting seniors. 45f. Collection, verification, and disclosure of in- formation by online marketplaces to inform consumers. 46. Additional powers of Commission. 46a. Concurrent resolution essential to authorize investigations 47. Reference of suits under antitrust statutes to Commission. 48. Information and assistance from depart- ments. 49. Documentary evidence; depositions; wit- nesses. 50. Offenses and penalties. 51. Effect on other statutory provisions. 52. Dissemination of false advertisements. 53. False advertisements; injunctions and re- straining orders. 54. False advertisements; penalties. 55. Additional definitions. 56. Commencement, defense, intervention and su- pervision of litigation and appeal by Com- mission or Attorney General. 57. Separability clause. 57a. Unfair or deceptive acts or practices rule- making proceedings. 57a–1. Omitted. Sec. 57b. Civil actions for violations of rules and cease and desist orders respecting unfair or decep- tive acts or practices. 57b–1. Civil investigative demands. 57b–2. Confidentiality. 57b–2a. Confidentiality and delayed notice of compul- sory process for certain third parties. 57b–2b. Protection for voluntary provision of infor- mation. 57b–3. Rulemaking process. 57b–4. Good faith reliance on actions of Board of Governors. 57b–5. Agricultural cooperatives. 57c. Authorization of appropriations. 57c–1. Staff exchanges. 57c–2. Reimbursement of expenses. 58. Short title. SUBCHAPTER II—PROMOTION OF EXPORT TRADE 61. Export trade; definitions. 62. Export trade and antitrust legislation. 63. Acquisition of stock of export trade corpora- tion. 64. Unfair methods of competition in export trade. 65. Information required from export trade cor- poration; powers of Federal Trade Commis- sion. 66. Short title. SUBCHAPTER III—LABELING OF WOOL PRODUCTS 68. Definitions. 68a. Misbranding declared unlawful. 68b. Misbranded wool products. 68c. Stamp, tag, label, or other identification. 68d. Enforcement of subchapter. 68e. Condemnation and injunction proceedings. 68f. Exclusion of misbranded wool products. 68g. Guaranty. 68h. Criminal penalty. 68i. Application of other laws. 68j. Exceptions from subchapter. SUBCHAPTER IV—LABELING OF FUR PRODUCTS 69. Definitions. 69a. Violations of Federal Trade Commission Act. 69b. Misbranded fur products. 69c. False advertising and invoicing. 69d. Fur products imported into United States. 69e. Name guide for fur products. 69f. Enforcement of subchapter. 69g. Condemnation and injunction proceedings. 69h. Guaranty. 69i. Criminal penalty. 69j. Application of other laws. SUBCHAPTER V—TEXTILE FIBER PRODUCTS IDENTIFICATION 70. Definitions. 70a. Violations of Federal Trade Commission Act. 70b. Misbranded and falsely advertised textile fiber products. 70c. Removal of stamp, tag, label, or other identi- fication. 70d. Records. 70e. Enforcement. 70f. Injunction proceedings. 70g. Exclusion of misbranded textile fiber prod- ucts. 70h. Guaranty. 70i. Criminal penalty. 70j. Exemptions. 70k. Application of other laws. SUBCHAPTER VI—PREVENTION OF UNFAIR METHODS OF COMPETITION 71. ‘‘Person’’ defined. 72. Repealed. 73. Agreements involving restrictions in favor of imported goods.