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| Reply To: | Academy of Legal Studies in Business (ALSB) Talk |
| Date: | Tue, 15 Nov 2011 14:49:43 -0500 |
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Remember no one has to buy ins. They just have to pay extra tax if they don't. Connie
Sent from my Verizon Wireless 4GLTE Phone
-----Original message-----
From: Henry Lowenstein <[log in to unmask]>
To: "[log in to unmask]" <[log in to unmask]>
Sent: Tue, Nov 15, 2011 17:37:30 GMT+00:00
Subject: Re: The need for a limiting principle?
Sorry for the typo. Paul v. Virginia was 1868!
Henry Lowenstein, PhD
Professor of Management and Law
E. Craig Wall Sr. College of Business Administration
Coastal Carolina University
P.O. Box 261954
Conway, SC 29528-6054 USA
(843) 349-2827 Office
(843) 349-2455 Fax
[log in to unmask]<mailto:[log in to unmask]>
www.coastal.edu<http://www.coastal.edu>
________________________________
From: Academy of Legal Studies in Business (ALSB) Talk [mailto:[log in to unmask]] On Behalf Of Henry Lowenstein
Sent: Tuesday, November 15, 2011 11:54 AM
To: [log in to unmask]
Subject: Re: The need for a limiting principle?
Mike:
The short answer is “Yes.” In 1968 in Paul v. Virginia the USSC ruled that insurance was not interstate commerce and was exclusively the jurisdiction of states to regulate. That changed in 1944 with the USSC’s ruling in U.S. v. South-Eastern Underwriters Asso. Insurance is now considered interstate commerce subject to the “Dormant Commerce Clause, “ i.e. the states can continue to regulate as long as Congress chooses not to preempt it. Congress’s role in insurance among others is covered in the McCarran-Ferguson Act (1994). Hope this is helpful.
HL
Henry Lowenstein, PhD
Professor of Management and Law
E. Craig Wall Sr. College of Business Administration
Coastal Carolina University
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