US Code Chapter 20 (from Cornell Law Library)
Sec. 1011. Declaration of policy
Congress hereby declares that the continued regulation and taxation by
the several States of the business of insurance is in the public
interest, and that silence on the part of the Congress shall not be
construed to impose any barrier to the regulation or taxation of such
business by the several States.
Sec. 1012. Regulation by State law; Federal law relating specifically
to insurance; applicability of certain Federal laws after June 30,
* (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 of July 2, 1890, as amended, known as the Sherman Act, and the
Act of October 15, 1914, as amended, known as the Clayton Act, and
the Act of September 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.
Sec. 1013. Suspension until June 30, 1948, of application of certain
Federal laws; Sherman Act applicable to agreements to, or acts of,
boycott, coercion, or intimidation
* (a) Until June 30, 1948, the Act of July 2, 1890, as amended,
known as the Sherman Act, and the Act of October 15, 1914, as
amended, known as the Clayton Act, and the Act of September 26,
1914, known as the Federal Trade Commission Act (15 U.S.C. 41 et
seq.), and the Act of June 19, 1936, known as the Robinson-Patman
Anti-Discrimination Act, shall not apply to the business of
insurance or to acts in the conduct thereof.
* (b) Nothing contained in this chapter shall render the said
Sherman Act inapplicable to any agreement to boycott, coerce, or
intimidate, or act of boycott, coercion, or intimidation.
Sec. 1014. Effect on other laws
Nothing contained in this chapter shall be construed to affect in any
manner the application to the business of insurance of the Act of July
5, 1935, as amended, known as the National Labor Relations Act (29
U.S.C. 151 et seq.), or the Act of June 25, 1938, as amended, known as
the Fair Labor Standards Act of 1938 (29 U.S.C. 201 et seq.), or the
Act of June 5, 1920, known as the Merchant Marine Act, 1920 (46 App.
U.S.C. 861 et seq.).
Sec. 1015. ''State'' defined
As used in this chapter, the term ''State'' includes the several
States, Alaska, Hawaii, Puerto Rico, Guam, and the District of
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Uncivilization and its Discontents
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Created: February 1, 1999
Last Updated: May 28, 2000