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extraterritorial |
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The bill's proposal to preempt extraterritorial requirements for reinsurance may meet with resistance from some states, Palmer said, but he praised Baker and the bill's other cosponsors for seeking the NAIC's guidance in structuring the bill. Repeal of the foreign sales corporation and extraterritorial income exclusion binding contract transition rules, due to the risk of World Trade Organization sanctions (TIPRA Section 513); Extraterritorial Income and Controlled Foreign Corporations. |
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