United States Code (Last Updated: May 24, 2014) |
Title 15. COMMERCE AND TRADE |
Chapter 20. REGULATION OF INSURANCE |
§ 1012. Regulation by State law; Federal law relating specifically to insurance; applicability of certain Federal laws after June 30, 1948
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(a) State regulation The business of insurance, and every person engaged therein, shall be subject to the laws of the several States which relate to the regulation or taxation of such business.
(b) Federal regulation No Act of Congress shall be construed to invalidate, impair, or supersede any law enacted by any State for the purpose of regulating the business of insurance, or which imposes a fee or tax upon such business, unless such Act specifically relates to the business of insurance: Provided, That after
June 30, 1948 , the Act ofJuly 2, 1890 , as amended, known as the Sherman Act, and the Act ofOctober 15, 1914 , as amended, known as the Clayton Act, and the Act ofSeptember 26, 1914 , known as the Federal Trade Commission Act, as amended [15 U.S.C. 41 et seq.], shall be applicable to the business of insurance to the extent that such business is not regulated by State Law.
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1947—Act