Imports—character.

An import, as a proper subject of marine or transportation insurance, shall be deemed to maintain its character as such so long as the property remains segregated in such a way that it may be identified and has not become incorporated and mixed with the general mass of property in the United States, and shall be deemed to have been completed if any of the following occurs:

(1) The property is sold and delivered by the importer, factor, or consignee.

(2) The property is removed from the place of storage and placed on sale as part of the importer’s stock in trade at a point of sale distribution.

(3) The property is delivered for manufacture, processing, or change in form to the premises of the importer or of another used for any such purposes.