(a) Other laws.— Nothing of what is [herein] provided shall prevent compliance with any other law of a participating state which is not inconsistent with this Compact, except as provided in this section.
In relation to the products approved or certified by the Commission, the regulations, the uniform standards and all other requirement of the Commission shall constitute the exclusive provisions applicable to the contents, the approval and the certification of said products. As regards the publicity materials subject to the authority of the Commission, any rule, uniform standards or other requirement of the Commission that governs the contents of the publicity materials shall constitute the exclusive provision which a Commissioner may apply to the contents of said materials. However, no action taken by the Commission shall neither abrogate nor restrict: (a) the access of any person, including the Secretary of Justice and the state courts; (b) the remedies available pursuant to the state laws related to contract noncompliance, civil damages or other laws not specifically related to the contents of the product; or (c) the state laws related to the interpretation of insurance contracts.
All insurance products introduced in the individual states shall be subject to the laws of said states.
(b) Obligatory effect of the Compact.— All regulations and operating procedures promulgated by the Commission shall be of an obligatory nature with respect to the subscribing states.
All agreements between the Commission and the subscribing states shall be of an obligatory nature pursuant to their terms.
At the request of any of the parties in a controversy with respect to the meaning or construction of any action of the Commission and with the prior majority vote of the subscribing states, the Commission may issue consultative opinions with respect to the controversial meaning or construction.
In case any provision of the present Compact exceeds the constitutional limitations imposed on the Legislature of any subscribing state, the obligations, duties, powers or jurisdiction asked to be conferred upon the Commission by said provision shall not have any effect and said obligations, duties, powers or jurisdiction shall remain in the subscribing state and be exercised by the agency of the latter to which said obligations, duties, powers or jurisdiction are delegated by a law in effect when this Compact is in force.
History —Dec. 22, 2005, No. 161, art. 1.16.