Public Law 15 (McCarran Act)
A congressional act of 1945 exempting insurance from federal antitrust laws
to the extent that the individual states regulate the industry. The legislation
was made necessary by the U.S. Supreme Court decision in
United States v. South-Eastern
Underwriters Ass'n, 322 U.S. 533, 64 S. Ct. 1162, 88 L. Ed. 1440 (1944).