§ 58-91-80. Binding effect of Compact; other laws.
§ 58‑91‑80. Binding effect of Compact; other laws.
(a) Other Laws. Nothing herein prevents the enforcement of any other law of a compacting state,except as provided in subsection (b) of this section.
For any product approved orcertified to the Commission, the rules, uniform standards, and any otherrequirements of the Commission shall constitute the exclusive provisionsapplicable to the content, approval, and certification of such products. Foradvertisement that is subject to the Commission's authority, any rule, uniformstandard, or other requirement of the Commission that governs the content ofthe advertisement shall constitute the exclusive provision that a Commissionermay apply to the content of the advertisement. Notwithstanding the foregoing, noaction taken by the Commission shall abrogate or restrict: (i) the access ofany person to state courts; (ii) remedies available under state law related tobreach of contract, tort, or other laws not specifically directed to thecontent of the product; (iii) state law relating to the construction ofinsurance contracts; or (iv) the authority of the attorney general of thestate, including, but not limited to, maintaining any actions or proceedings,as authorized by law.
All insurance products filedwith individual states shall be subject to the laws of those states.
(b) Binding Effect ofThis Compact. All lawful actions of the Commission, including all rules andoperating procedures promulgated by the Commission, are binding upon thecompacting states.
All agreements between theCommission and the compacting states are binding in accordance with theirterms.
Upon the request of a party toa conflict over the meaning or interpretation of Commission actions, and upon amajority vote of the compacting states, the Commission may issue advisoryopinions regarding the meaning or interpretation in dispute.
In the event any provision ofthis Compact exceeds the constitutional limits imposed on the legislature ofany compacting state, the obligations, duties, powers, or jurisdiction soughtto be conferred by that provision upon the Commission shall be ineffective asto that compacting state, and those obligations, duties, powers, orjurisdiction shall remain in the compacting state and shall be exercised by theagency thereof to which those obligations, duties, powers, or jurisdiction aredelegated by law in effect at the time this Compact becomes effective. (2005‑183, s. 1;2009-382, s. 35.)