The purpose of this chapter is to regulate trade practices in the business of insurance in accordance with the intent of Congress as expressed in the act of Congress of March 9, 1945, (Public Law 15, 79th Congress), by defining, or providing for the determination of, all the practices in this State which constitute unfair methods of competition or unfair or deceptive acts or practices and by prohibiting the trade practices so defined or determined.
HISTORY: Former 1976 Code Section 38-57-10 [1947 (45) 322; 1952 Code Section 37-1151; 1962 Code Section 37-1151; 1978 Act No. 585 Section 3] recodified as Section 23-9-310 by 1987 Act No. 155, Section 1; Former 1976 Code Section 38-55-10 [1947 (45) 322; 1952 Code Section 37-1223; 1962 Code Section 37-1202; 1964 (53) 2293] recodified as Section 38-57-10 by 1987 Act No. 155, Section 1.