42 U.S.C. § 9671 : US Code - Section 9671: Definitions

Search 42 U.S.C. § 9671 : US Code - Section 9671: Definitions

As used in this subchapter -
(1) Insurance
The term "insurance" means primary insurance, excess insurance,
reinsurance, surplus lines insurance, and any other arrangement
for shifting and distributing risk which is determined to be
insurance under applicable State or Federal law.
(2) Pollution liability
The term "pollution liability" means liability for injuries
arising from the release of hazardous substances or pollutants or
contaminants.
(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
The term "purchasing group" means any group of persons which
has as one of its purposes the purchase of pollution liability
insurance on a group basis.
(5) State
The term "State" means any State of the United States, the
District of Columbia, the Commonwealth of Puerto Rico, Guam,
American Samoa, the Virgin Islands, the Commonwealth of the
Northern Marianas, and any other territory or possession over
which the United States has jurisdiction.