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Title 15 — Commerce and TradeRelease 119-73not60

§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

Last updated Apr 3, 2026|Official source

Summary

The business of insurance and everyone who works in it must follow the laws of each State that control or tax that business. Federal laws do not cancel or override a State law about regulating insurance or charging fees or taxes, unless the federal law is specifically about insurance. After June 30, 1948, the Sherman Act (Act of July 2, 1890, as amended), the Clayton Act (Act of October 15, 1914, as amended), and the Federal Trade Commission Act (Act of September 26, 1914, as amended) apply to insurance only where State law does not already regulate the matter.

Full Legal Text

Title 15, §1012

Commerce and Trade — Source: USLM XML via OLRC

(a)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)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

Apr 3, 2026

Release point: 119-73not60