Any district court of the United States may issue an order enjoining a risk retention group from soliciting or selling insurance, or operating, in any State (or in all States) or in any territory or possession of the United States upon a finding of such court that such group is in hazardous financial condition. Such order shall be binding on such group, its officers, agents, and employees, and on any other person acting in active concert with any such officer, agent, or employee, if such other person has actual notice of such order.

Terms Used In 15 USC 3906

  • hazardous financial condition: means that, based on its present or reasonably anticipated financial condition, a risk retention group is unlikely to be able&mdash. See 15 USC 3901
  • 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. See 15 USC 3901
  • officer: includes any person authorized by law to perform the duties of the office. See 1 USC 1
  • risk retention group: means any corporation or other limited liability association&mdash. See 15 USC 3901
  • State: means any State of the United States or the District of Columbia. See 15 USC 3901
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