Exemptions

§ 1502. Exemptions. (a) Notwithstanding any other provision of this\narticle the following shall not be deemed holding companies:\n (1) authorized insurers, including alien insurers transacting business\nin this state through United States branches, or their subsidiaries; or\n (2) the United States, a state or any political subdivision, agency or\ninstrumentality thereof, or any corporation wholly owned directly or\nindirectly by one or more of the foregoing.\n (b) The superintendent may conditionally or unconditionally exempt any\nspecified person or class of persons from any obligation or liability\nunder this article, if and to the extent he finds the exemption\nnecessary or appropriate in the public interest or not adverse to the\ninterests of policyholders or shareholders and consistent with the\npurposes of this article.\n