[USC02] 15 USC 38: Association of marine insurance companies; application of antitrust laws
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TEXT OF PART V OF SUBTITLE A (§3001 ET SEQ.), EFFECTIVE JANUARY 1, 2022, CURRENTLY SET OUT AS A PREVIEW

15 USC 38: Association of marine insurance companies; application of antitrust laws Text contains those laws in effect on May 6, 2021
From Title 15-COMMERCE AND TRADECHAPTER 1-MONOPOLIES AND COMBINATIONS IN RESTRAINT OF TRADE

§38. Association of marine insurance companies; application of antitrust laws

(a) Whenever used in this section-

(1) The term "association" means any association, exchange, pool, combination, or other arrangement for concerted action; and

(2) The term "marine insurance companies" means any persons, companies, or associations, 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 entered into by marine insurance companies for the following purposes: To transact a marine insurance 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 .)

Codification

Section was classified to section 885 of the former Appendix to Title 46, prior to the completion of the enactment of Title 46, Shipping, by Pub. L. 109–304, Oct. 6, 2006, 120 Stat. 1485 .