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15 U.S.C. § 6760 — Presidential oversight

Federal law — U.S. Code and appendices · legal_authorities

15 U.S.C. § 6760 — Presidential oversight

**(a) Removal of Board** If the President determines that the Association is acting in a manner contrary to the interests of the public or the purposes of this subchapter or has failed to perform its duties under this subchapter, the President may remove the entire existing Board for the remainder of the term to which the Board members were appointed and appoint, in accordance with [section 6754 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section6754&num=0&edition=prelim) and with the advice and consent of the Senate, in accordance with the procedures established under Senate Resolution 116 of the 112th Congress, new Board members to fill the vacancies on the Board for the remainder of the terms. **(b) Removal of Board member** The President may remove a Board member only for neglect of duty or malfeasance in office. **(c) Suspension of bylaws and standards and prohibition of actions** Following notice to the Board, the President, or a person designated by the President for such purpose, may suspend the effectiveness of any bylaw or standard, or prohibit any action, of the Association that the President or the designee determines is contrary to the purposes of this subchapter.

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Source file: Laws/federal/codes/united-states-code/title-15/section-6760-presidential-oversight--ccab4cc5e6.md
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Source location: Title 15, Chapter 93, § 6760; chapter-093-insurance.md

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Federal law — U.S. Code and appendices · legal_authorities

15 U.S.C. § 6754 — Membership

**(a) Eligibility** (1) **In general** — Any insurance producer licensed in its home State shall, subject to paragraphs (2) and (4), be eligible to become a member of the Association. (2) **Ineligibility for suspension or revocation of license** — Subject to paragraph (3), an insurance producer is not eligible to become a member of the Association if a State insurance regulator has suspended or revoked the insurance license of the insurance producer in that State. (3) **Resumption of eligibility** — Paragraph (2) shall cease to apply to any insurance producer if— (A) the State insurance regulator reissues or renews the license of the insurance producer in the State in which the license was suspended or revoked, or otherwise terminates or vacates the suspension or revocation; or (B) the suspension or revocation expires or is subsequently overturned by a court of competent jurisdiction. (4) **Criminal history record check required** (A) *In general* — An insurance producer who is an individual shall not be eligible to become a member of the Association unless the insurance producer has undergone a criminal history record check that complies with regulations prescribed by the Attorney General of the United States under subparagraph (K). (B) *Criminal history record check requested by home State* — An insurance producer who is licensed in a State and who has undergone a criminal history record check during the 2-year period preceding the date of submission of an application to become a member of the Association, in compliance with a requirement to undergo such criminal history record check as a condition for such licensure in the State, shall be deemed to have undergone a criminal history record check for purposes of subparagraph (A). (C) *Criminal histor

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Federal law — U.S. Code and appendices · legal_authorities

15 U.S.C. § 6764 — Federal funding prohibited

The Association may not receive, accept, or borrow any amounts from the Federal Government to pay for, or reimburse,11 So in original. The comma probably should not appear. the Association for, the costs of establishing or operating the Association.

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Federal law — U.S. Code and appendices · legal_authorities

15 U.S.C. § 6760 — Relationship to State law

Page 2287 TITLE 15—COMMERCE AND TRADE § 6760 Editorial Notes PRIOR PROVISIONS Provisions similar to this section were contained in section 6761 of this title, prior to the general amend- ment of this subchapter by Pub. L. 114–1. A prior section 6758, Pub. L. 106–102, title III, § 328, Nov. 12, 1999, 113 Stat. 1427, related to bylaws, rules, and disciplinary action, prior to the general amendment of this subchapter by Pub. L. 114–1. See section 6755 of this title. § 6759. Presidential oversight (a) Removal of Board If the President determines that the Associa- tion is acting in a manner contrary to the inter- ests of the public or the purposes of this sub- chapter or has failed to perform its duties under this subchapter, the President may remove the entire existing Board for the remainder of the term to which the Board members were ap- pointed and appoint, in accordance with section 6754 of this title and with the advice and consent of the Senate, in accordance with the procedures established under Senate Resolution 116 of the 112th Congress, new Board members to fill the vacancies on the Board for the remainder of the terms. (b) Removal of Board member The President may remove a Board member only for neglect of duty or malfeasance in office. (c) Suspension of bylaws and standards and pro- hibition of actions Following notice to the Board, the President, or a person designated by the President for such purpose, may suspend the effectiveness of any bylaw or standard, or prohibit any action, of the Association that the President or the designee determines is contrary to the purposes of this subchapter. (Pub. L. 106–102, title III, § 329, as added Pub. L. 114–1, title II, § 202(a), Jan. 12, 2015, 129 Stat. 25.) Editorial Notes REFERENCES I

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