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TITLE
15. COMMERCE AND TRADE
CHAPTER
20. REGULATION OF INSURANCE
Act
Mar. 9, 1945, ch 20, 59 Stat. 33, is popularly known as the
McCarran-Ferguson Act.
15
USCS 1011 Declaration of policy
The Congress
hereby declares that the continued regulation and taxation by The several States
of the business of insurance is in the public interest, and that silence on the
part of the Congress shall not be construed to impose any barrier to the
regulation or taxation of such business by the several States.
15
USCS 1012 Regulation by State law
Federal law relating specifically to insurance;
applicability of certain Federal laws after June 30, 1948
(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 [15 USCS 15 USCS 15
USCS 1 et seq.], 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 USCS 15 USCS
15 USCS 41 et seq.], shall be
applicable to the business of insurance to the extent that such business is not
regulated by State law.
15
USCS 1013.
Suspension until June 30, 1948, of application of certain Federal laws;
Sherman Act [15 USCS 15 USCS 1
et seq.] applicable to agreements to, or acts of, boycott, coercion, or
intimidation
(a) Until
June 30, 1948, the Act of July 2, 1890, as amended, known as the Sherman Act [15
USCS 15 USCS 15 USCS 1 et seq.],
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 USCS 15 USCS 15 USCS 41 et
seq.], and the Act of June 19, 1936, known as the Robinson-Patman
Antidiscrimination Act, shall not apply to the business of insurance or to acts
in the conduct thereof.
(b) Nothing
contained in this Act [15 USCS 15 USCS 15 USCS
1011 et seq.] shall render the said Sherman Act [15 USCS 15 USCS 15 USCS
1 et seq.] inapplicable to any agreement to boycott, coerce, or
intimidate, or act of boycott, coercion, or intimidation.
15
USCS 1014.
Applicability of National Labor Relations Act [29 USCS 15 USCS 15
USCS 151 et seq.] and the Fair
Labor Standards Act of l938
Nothing
contained in this Act [15 USCS 15 USCS 15 USCS
1011 et seq.] shall be construed to affect in any manner the application
to the business of insurance of the Act of
July 5, 1935, as amended, known as the National Labor Relations Act [29
USCS 15 USCS 15 USCS 151 et seq.],
or the Act of June 25, 1938, as amended, known as the Fair Labor Standards Act
of 1938, or the Act of June 5, 1920, known as the Merchant Marine Act, 1920.
As used in
this Act [15 USCS 15 USCS 15 USCS 1011
et seq.], the term "State" includes the several States, Alaska,
Hawaii, Puerto Rico, Guam, and the District of Columbia.
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