Title 15 — Commerce and TradeRelease 119-73
§6715 Certain State affiliation laws preempted for insurance companies and affiliates
Title 15 › Chapter CHAPTER 93— - INSURANCE › Subchapter SUBCHAPTER I— - STATE REGULATION OF INSURANCE › § 6715
Summary
A State may not, except under section 6701(c)(2), stop or interfere with an insurer or its affiliate from becoming a financial holding company or buying a bank; limit an insurer’s voting-stock investment in a bank to less than 5% of admitted assets (unless the insurer’s home state allows it); or block or review a mutual-to-stock reorganization unless it is the insurer’s home state.
Full Legal Text
Title 15, §6715
Commerce and Trade — Source: USLM XML via OLRC
Except as provided in section 6701(c)(2) of this title, no State may, by law, regulation, order, interpretation, or otherwise—
(1)prevent or significantly interfere with the ability of any insurer, or any affiliate of an insurer (whether such affiliate is organized as a stock company, mutual holding company, or otherwise), to become a financial holding company or to acquire control of a depository institution;
(2)limit the amount of an insurer’s assets that may be invested in the voting securities of a depository institution (or any company which controls such institution), except that the laws of an insurer’s State of domicile may limit the amount of such investment to an amount that is not less than 5 percent of the insurer’s admitted assets; or
(3)prevent, significantly interfere with, or have the authority to review, approve, or disapprove a plan of reorganization by which an insurer proposes to reorganize from mutual form to become a stock insurer (whether as a direct or indirect subsidiary of a mutual holding company or otherwise) unless such State is the State of domicile of the insurer.
Reference
Citations & Metadata
Citation
15 U.S.C. § 6715
Title 15 — Commerce and Trade
Last Updated
Apr 6, 2026
Release point: 119-73