Title 15, Commerce and TradeRelease 119-102

§6715 Certain State Affiliation Laws Preempted for Insurance Companies and Affiliates

Title 15 › CHAPTER 93 — INSURANCE › SUBCHAPTER I — STATE REGULATION OF INSURANCE › § 6715

Last updated Aug 21, 2026|Official source

Summary

Except as provided in section 6701(c)(2), states may not, by law or other action, block or seriously interfere with an insurer or its affiliate from becoming a financial holding company or from taking control of a depository institution. A state where the insurer is domiciled can limit investments in voting stock to no less than 5 percent of the insurer’s admitted assets. States also may not review or stop a plan to change an insurer from mutual to stock unless that state is the insurer’s state of domicile.

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

Aug 21, 2026

Release point: 119-102