Title 15, Commerce and TradeRelease 119-110
§1012 Regulation by State Law; Federal Law Relating Specifically to Insurance; Applicability of Certain Federal Laws After June 30, 1948
Title 15 › CHAPTER 20 — REGULATION OF INSURANCE › § 1012
Summary
States must control the insurance business and anyone who works in it, including making rules and taxes about that business. Federal laws cannot cancel or weaken state insurance rules unless a federal law specifically deals with insurance. However, after June 30, 1948, the Sherman Act (July 2, 1890), the Clayton Act (October 15, 1914), and the Federal Trade Commission Act (September 26, 1914) apply to insurance when the activity is not already covered by state law.
Full Legal Text
Title 15, §1012
Commerce and Trade, Source: USLM XML via OLRC
(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.
Legislative History
Notes & Related Subsidiaries
Editorial Notes
References in Text
Act of
July 2, 1890, as amended, known as the Sherman Act, referred to in subsec. (b), is classified to sections 1 to 7 of this title. Act of
October 15, 1914, as amended, known as the Clayton Act, referred to in subsec. (b), is act Oct. 15, 1914, ch. 323, 38 Stat. 730, which is classified generally to section 12, 13, 14 to 19, 21, and 22 to 27 of this title and to section 52 and 53 of Title 29, Labor. For further details and complete classification of this Act to the Code, see
References in Text
note set out under section 12 of this title and Tables. Act of September 26, 1914, known as the Federal Trade Commission Act, as amended, referred to in subsec. (b), is classified generally to subchapter I (§ 41 et seq.) of chapter 2 of this title. For complete classification of this Act to the Code, see section 58 of this title and Tables.
Amendments
1947—Act
July 25, 1947, substituted “
June 30, 1948” for “
January 1, 1948”.
Reference
Citations & Metadata
Citation
15 U.S.C. § 1012
Title 15, Commerce and Trade
Last Updated
Sep 22, 2026
Release point: 119-110