42 USC 9671 - Definitions

U.S Code last checked for updates: Nov 22, 2024

§ 9671.

Definitions

As used in this subchapter—

(1)

Insurance

(2)

Pollution liability

(3)

Risk retention group

The term “risk retention group” means any corporation or other limited liability association taxable as a corporation, or as an insurance company, formed under the laws of any State—

(A)

whose primary activity consists of assuming and spreading all, or any portion, of the pollution liability of its group members;

(B)

which is organized for the primary purpose of conducting the activity described under subparagraph (A);

(C)

which is chartered or licensed as an insurance company and authorized to engage in the business of insurance under the laws of any State; and

(D)

which does not exclude any person from membership in the group solely to provide for members of such a group a competitive advantage over such a person.

(4)

Purchasing group

(5)

State

(Pub. L. 96–510, title IV, § 401, as added Pub. L. 99–499, title II, § 210(a), formerly § 210, Oct. 17, 1986, 100 Stat. 1716; renumbered § 210(a), Pub. L. 99–563, § 11(c)(1), Oct. 27, 1986, 100 Stat. 3177.)

cite as: 42 USC 9671