§798. Exemption from insurance laws within limitations
1.
Titles consistent.
A special purpose reinsurance vehicle is subject to chapters 1, 3 and 5 to the extent consistent with this subchapter.
[PL 2003, c. 249, §2 (NEW).]
2.
Provisions not applicable.
No other provisions of this Title are applicable to a special purpose reinsurance vehicle organized under this subchapter, except as expressly provided in this subchapter or in rules adopted by the superintendent pursuant to section 797.
[PL 2003, c. 249, §2 (NEW).]
3.
Variance.
The superintendent may issue an order exempting a special purpose reinsurance vehicle or a protected cell from provisions of this subchapter upon a finding that the variance is necessary for conformance to the laws or regulatory requirements of a ceding insurer's state of domicile and that the variance is consistent with the purposes of this subchapter given the nature of the risks to be insured.
[PL 2007, c. 386, §22 (NEW).]
SECTION HISTORY
PL 2003, c. 249, §2 (NEW). PL 2007, c. 386, §22 (AMD).