§ 27-29-1 - Declaration of purpose.
SECTION 27-29-1
§ 27-29-1 Declaration of purpose. –The purpose of this chapter is to regulate trade practices in the business ofinsurance in accordance with the intent of Congress as expressed in 15 U.S.C.§ 1101 et seq., by defining, or providing for the determination of, alltrade practices in this state which constitute unfair methods of competition orunfair or deceptive acts or practices, and by prohibiting the trade practicesso defined or determined. Nothing in this chapter shall be construed to createor imply a private cause of action for a violation of this chapter.