Product Liability Risk Retention Act of 1981

enactedUnited States· United States Congress· EN

Introduced

25 February 1981

Last action

25 September 1981 · President

Status

Became Public Law No: 97-45.

Summary

Product Liability Risk Retention Act of 1981 - Defines "risk retention group" to mean any corporation or insurance company formed under State law which: (1) is organized for the primary purpose of assuming and spreading product liability or completed operations liability risk exposure; (2) is chartered as an insurance company under State law; (3) does not exclude members for competitive advantage; and (4) consists of members whose principal activity is the manufacture, design, distribution, packaging, or sale of a product. Defines " purchasing group" to mean any group of persons which has as one of its purposes the purchase of product liability or completed operations insurance on a group basis. Exempts risk retention groups and purchasing groups from State laws which prohibit, regulate, or otherwise discriminate against such groups. Enumerates requirements which a State may impose on a risk retention group, including compliance with unfair claims settlement practices, payment of taxes, and reporting requirements. Authorizes a State to license an agent or broker for a purchasing group. States that the ownership interests of members in a risk retention group shall not be considered securities or an investment company for purposes of the Federal securities laws or State blue sky laws.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

25 February 1981
Introduced
Referred to House Committee on Energy and Commerce.
Source: IntroReferral
25 February 1981
Introduced
Introduced in House
Source: IntroReferral
25 February 1981
Introduced
Introduced in House
Source: IntroReferral
27 February 1981
Referred
Referred to Subcommittee on Commerce, Transportation and Tourism.
Source: Committee
9 April 1981
Committee
Subcommittee Hearings Held.
Source: Committee
24 June 1981
Committee
Forwarded by Subcommittee to Full Committee (Amended).
Source: Committee
24 June 1981
Committee
Subcommittee Consideration and Mark-up Session Held.
Source: Committee
15 July 1981
Reported
Ordered to be Reported (Amended).
Source: Committee
15 July 1981
Committee
Committee Consideration and Mark-up Session Held.
Source: Committee
21 July 1981
Calendars
Placed on Union Calendar No: 130.
Source: Calendars
21 July 1981
Reported
Reported to House (Amended) by House Committee on Energy and Commerce. Report No: 97-190.
Source: Committee
21 July 1981
Reported
Reported to House (Amended) by House Committee on Energy and Commerce. Report No: 97-190.
Source: Committee
28 July 1981
Passed
Passed House (Amended) by Voice Vote.
Source: Floor
28 July 1981
Passed
Passed/agreed to in House: Passed House (Amended) by Voice Vote.
Source: Floor
28 July 1981
Floor
Called up by House by Unanimous Consent.
Source: Floor
30 July 1981
Floor
Received in the Senate held at the desk by unanimous consent.
Source: Floor
11 September 1981
Passed
Passed Senate in lieu of S. 1096 without amendment by Voice Vote.
Source: Floor
11 September 1981
Passed
Passed/agreed to in Senate: Passed Senate in lieu of S. 1096 without amendment by Voice Vote.
Source: Floor
14 September 1981
President
Presented to President.
Source: President
14 September 1981
Floor
Measure Signed in Senate.
Source: Floor
14 September 1981
Floor
Presented to President.
Source: Floor
25 September 1981
Became law
Became Public Law No: 97-45.
Source: President
25 September 1981
Became law
Signed by President.
Source: BecameLaw
25 September 1981
President
Signed by President.
Source: President

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

4 official files

Public Law (PDF)

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Public Law (PDF)
Public Law · EN · 26 September 1981
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Passed House amended
summary · EN · 28 July 1981
Open at official source
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Reported to House with amendment(s)
summary · EN · 21 July 1981
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Introduced in House
summary · EN · 25 February 1981
Open at official source
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Related records

related to ← Product Liability Risk Retention Act of 1981
related to ← Product Liability Risk Retention Act of 1981

Related across the Repo ecosystem

Direct relationships are identifier-backed. Topic context means shared TopicMembership — not a citation and not causation.

Direct relationships

Legal framework · Product Liability Risk Retention Act of 1981 · H.R. 2120 (97th) · US

Identifier matchPROJECTS_FROM
Same us record 97-hr-2120 projected from PoliticalRepo US row.
Product Liability Risk Retention Act of 1981

Sources

PoliticalRepo is an index and interpretation layer, not the authoritative legal source.

Official source: https://www.congress.gov/bill/97th-congress/house-bill/2120
Open data entity: https://api.congress.gov/v3/bill/97/hr/2120
us · 97-hr-2120 · source updated 5 February 2024