Title 15 — Commerce and TradeRelease 119-73not60

§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 Apr 3, 2026|Official source

Summary

Unless another part of the law says otherwise, states must not stop or seriously block an insurer or any of its affiliates from becoming a financial holding company or from taking control of a bank or other deposit-taking institution. States also must not cap how much of an insurer’s money can be invested in voting stock of a bank or a company that controls a bank, except the insurer’s home state can set a limit and that limit must be at least 5 percent of the insurer’s admitted assets. States must not block, seriously interfere with, or have the power to review, approve, or disapprove a plan for an insurer to change from a mutual company to a stock company, unless that state is the one where the insurer is based.

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 3, 2026

Release point: 119-73not60