15 U.S.C. § 3905 : US Code - Section 3905: Clarification concerning permissible State authority

Search 15 U.S.C. § 3905 : US Code - Section 3905: Clarification concerning permissible State authority

    (a) No exemption from State motor vehicle no-fault and motor
      vehicle financial responsibility laws
      Nothing in this chapter shall be construed to exempt a risk
    retention group or purchasing group authorized under this chapter
    from the policy form or coverage requirements of any State motor
    vehicle no-fault or motor vehicle financial responsibility
    insurance law.
    (b) Applicability of exemptions
      The exemptions provided under this chapter shall apply only to
    the provision of liability insurance by a risk retention group or
    the purchase of liability insurance by a purchasing group, and
    nothing in this chapter shall be construed to permit the provision
    or purchase of any other line of insurance by any such group.
    (c) Prohibited insurance policy coverage
      The terms of any insurance policy provided by a risk retention
    group or purchased by a purchasing group shall not provide or be
    construed to provide insurance policy coverage prohibited generally
    by State statute or declared unlawful by the highest court of the
    State whose law applies to such policy.
    (d) State authority to specify acceptable means of demonstrating
      financial responsibility
      Subject to the provisions of section 3902(a)(4) of this title
    relating to discrimination, nothing in this chapter shall be
    construed to preempt the authority of a State to specify acceptable
    means of demonstrating financial responsibility where the State has
    required a demonstration of financial responsibility as a condition
    for obtaining a license or permit to undertake specified
    activities. Such means may include or exclude insurance coverage
    obtained from an admitted insurance company, an excess lines
    company, a risk retention group, or any other source regardless of
    whether coverage is obtained directly from an insurance company or
    through a broker, agent, purchasing group, or any other person.