Page:United States Statutes at Large Volume 100 Part 4.djvu/244

 100 STAT. 3172

PUBLIC LAW 99-563—OCT. 27, 1986

"(G) whose activities do not include the provision of insurance other than— "(i) habihty insurance for assuming and spreading all ^ or any portion of the similar or related liability exposure of its group members; and •^ '<^^ "(ii) reinsurance with respect to the similar or related liability exposure of any other risk retention group (or any member of such other group) which is engaged in businesses or activities so that such group (or member) meets the requirement described in subparagraph (F) for membership in the risk retention group which provides such reinsurance; and >...: "(jj) ^jjg name of which includes the phrase 'Risk Retention Group'.", (b) CHARACTERISTICS OF PURCHASING GROUPS.—Section 2(a)(5) (15 U.S.C. 3901(a)(5)) is amended to read as follows: "(5)'purchasing group'means any group which— "(A) has as one of its purposes the purchase of liability insurance on a group basis; "(B) purchases such insurance only for its group members and only to cover their similar or related liability exposure, as described in subparagraph (C); "(C) is composed of members whose businesses or activities are similar or related with respect to the liability to which members are exposed by virtue of any related, similar, or common business, trade, product, services, premises, or operations; and "(D) is domiciled in any State;". '^ - ^ SEC. 5. CONCERNING SCOPE OF EXEMPTIONS RELATING TO RISK RETENTION GROUPS.

Business and industry.

Securities.

(a) IN GENERAL.—Section 3(b) (15 U.S.C. 3902(b)) is amended to read as follows: "0>) The exemptions specified in subsection (a) apply to laws governing the insurance business pertaining to— "(1) liability insurance coverage provided by a risk retention group for— --•' "(A) such group; or "(B) any person who is a member of such group; "(2) the sale of liability insurance coverage for a risk retention group; and "(3) the provision of^^ "(A) insurance related services; "(B) mgmagement, operations, and investment activities;

Claims.

^ ' '

"(C) loss Control and claims administration (including loss control and claims administration services for uninsured risks regained by any member of such group); for a risk retention group or any member of such group with respect to liability for which the group provides insurance.".

(b) PLANS OF OPERATION, FEASIBILITY STUDIES, AND FINANCIAL

STATEMENTS.—Section 3 (15 U.S.C. 3902) is further amended— (1) in subsection (a)(D— (A) by striking subparagraph (D) and redesignating subparagraphs (E), (F), and (G) as subparagraphs (D), (E), and (F), accordingly; and

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