Exam DISC-IA Practice Question 251
Study guide: Exam DISC-IA
Congress passes a statute of general application on business recordkeeping that does not mention insurance. Read literally, it conflicts with a state law that regulates how insurers keep policyholder records. Which law governs the insurers' records in that state?
- A) The federal statute, because federal law always overrides conflicting state law
- B) Neither, until the NAIC adopts a model law resolving the conflict
- C) The state law, because the federal statute does not specifically relate to insurance
- D) The federal statute, because insurance is commerce among the states
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