(a) No provisions of title 22 other than those specifically referenced in this subchapter apply to an SPFC, and those provisions apply only as modified by this subchapter. If a conflict occurs between a provision of title 22 and a provision of this subchapter, the latter controls.
(b) The SAM, by rule, regulation, or order, may exempt an SPFC or its protected cells, on a case by case basis, from provisions of this subchapter that the SAM determines to be inappropriate given the nature of the risks to be insured.