Title 15, Commerce and TradeRelease 119-102
§38 Association of Marine Insurance Companies; Application of Antitrust Laws
Title 15 › CHAPTER 1 — MONOPOLIES AND COMBINATIONS IN RESTRAINT OF TRADE › § 38
Summary
Allows marine insurers to join together to write marine insurance and reinsurance in the U.S. and abroad, and to share or reinsure risks among their members, without being treated as illegal under antitrust laws. Association = any group. Marine insurers = people or firms allowed to write marine insurance or reinsurance under U.S. or State/Territory/District/possession law.
Full Legal Text
Title 15, §38
Commerce and Trade, Source: USLM XML via OLRC
(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.
Legislative History
Notes & Related Subsidiaries
Editorial Notes
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.
Reference
Citations & Metadata
Citation
15 U.S.C. § 38
Title 15, Commerce and Trade
Last Updated
Aug 21, 2026
Release point: 119-102