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

Legislative history

Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.

1. 1920

   Pub. L. 66–250 § 29 · 41 Stat. 988

   Enacted · 15 U.S.C. § 38

   (June 5, 1920, ch. 250, § 29, 41 Stat. 1000.)

   Source evidence

   Code source credit
   (June 5, 1920, ch. 250, § 29, 41 Stat. 1000.)

   Enacted provision · exact public law section
   Sec. 29. (a) That whenever used in this section— “Association.” (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, “Marine insurance companies.” 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 Marine insurance associations. Not illegal under antitrust laws. Vol. 38, p. 730. in section 1 of the Act entitled “An Act to supplement existing laws against unlawful restraints and monopolies, and for other purposes,” approved October 15, 1914, shall be construed as declaring illegal an association entered into by marine insurance companies for the following Apportionment of risks, etc. 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.

1 of 1 references resolved to an enrolled provision