retaliatory law

Retaliatory law is a state law providing that another state will be treated in the same terms that the home state is treated by the foreign state in dealings with insurance.

On This Page

Additional Information


If, for example, another state requires that all nonresident agents writing insurance or risks in that state obtain a license from that state, a state with a retaliatory law will impose the same requirement on that other state's agents.

Summary


Related Terms


A resident agent is domiciled in the state in which he or she conducts his or her business...