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Public Law 15 Mccarran Act

Public Law 15 (McCarran Act)

Definition

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).

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