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,
   1948 
   
     * (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
   Columbia.