Section 798 - Exemption from insurance laws within limitations1.Titles consistent. A special purpose reinsurance vehicle is subject to chapters 1, 3 and 5 to the extent consistent with this subchapter. [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. [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. [2007, c. 386, §22(NEW).]
2003, c. 249, § 2 (NEW) . 2007, c. 386, § 22 (AMD) .