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15 U.S.C. § 6714 — Title insurance activities of national banks and their affiliates
Federal law — U.S. Code and appendices · legal_authorities
**(a) General prohibition** No national bank may engage in any activity involving the underwriting or sale of title insurance.
**(b) Nondiscrimination parity exception**
(1) **In general** — Notwithstanding any other provision of law (including [section 6701 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section6701&num=0&edition=prelim)), in the case of any State in which banks organized under the laws of such State are authorized to sell title insurance as agent, a national bank may sell title insurance as agent in such State, but only in the same manner, to the same extent, and under the same restrictions as such State banks are authorized to sell title insurance as agent in such State.
(2) **Coordination with “wildcard” provision** — A State law which authorizes State banks to engage in any activities in such State in which a national bank may engage shall not be treated as a statute which authorizes State banks to sell title insurance as agent, for purposes of paragraph (1).
**(c) Grandfathering with consistent regulation**
(1) **In general** — Except as provided in paragraphs (2) and (3) and notwithstanding subsections (a) and (b), a national bank, and a subsidiary of a national bank, may conduct title insurance activities which such national bank or subsidiary was actively and lawfully conducting before November 12, 1999.
(2) **Insurance affiliate** — In the case of a national bank which has an affiliate which provides insurance as principal and is not a subsidiary of the bank, the national bank and any subsidiary of the national bank may not engage in the underwriting of title insurance pursuant to paragraph (1).
(3) **Insurance subsidiary** — In the case of a national bank which has a subsidiary which provides insuran
Source: Supplied U.S. Code snapshot — release unconfirmed · 15 U.S.C. § 6714
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Stable record: federal_law:legal_authorities:record_usc_7a0e397c746d649bb49c2a02
Source file: Laws/federal/codes/united-states-code/title-15/section-6714-title-insurance-activities-of-national-banks-and-their-affiliates--1d31b2a37d.md
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Source location: Title 15, Chapter 93, § 6714; chapter-093-insurance.md
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**(a) General prohibition** No national bank may engage in any activity involving the underwriting or sale of title insurance.
**(b) Nondiscrimination parity exception**
(1) **In general** — Notwithstanding any other provision of law (including [section 6701 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section6701&num=0&edition=prelim)), in the case of any State in which banks organized under the laws of such State are authorized to sell title insurance as agent, a national bank may sell title insurance as agent in such State, but only in the same manner, to the same extent, and under the same restrictions as such State banks are authorized to sell title insurance as agent in such State.
(2) **Coordination with “wildcard” provision** — A State law which authorizes State banks to engage in any activities in such State in which a national bank may engage shall not be treated as a statute which authorizes State banks to sell title insurance as agent, for purposes of paragraph (1).
**(c) Grandfathering with consistent regulation**
(1) **In general** — Except as provided in paragraphs (2) and (3) and notwithstanding subsections (a) and (b), a national bank, and a subsidiary of a national bank, may conduct title insurance activities which such national bank or subsidiary was actively and lawfully conducting before November 12, 1999.
(2) **Insurance affiliate** — In the case of a national bank which has an affiliate which provides insurance as principal and is not a subsidiary of the bank, the national bank and any subsidiary of the national bank may not engage in the underwriting of title insurance pursuant to paragraph (1).
(3) **Insurance subsidiary** — In the case of a national bank which has a subsidiary which provides insurance as principal and has no affiliate other than a subsidiary which provides insurance as principal, the national bank may not directly engage in any activity involving the underwriting of title insurance.
**(d) “Affiliate” and “subsidiary” defined** For purposes of this section, the terms “affiliate” and “subsidiary” have the same meanings as in [section 1841 of title 12](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1841&num=0&edition=prelim).
**(e) Rule of construction** No provision of this Act or any other Federal law shall be construed as superseding or affecting a State law which was in effect before November 12, 1999, and which prohibits title insurance from being offered, provided, or sold in such State, or from being underwritten with respect to real property in such State, by any person whatsoever.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Protection against retroactive application of regulatory and legal action** Except as provided in subsection (b), during the 3-year period beginning on November 12, 1999, it shall be a presumption that no State law imposes any licensing, appointment, or education requirements on any person who solicits the purchase of or sells insurance connected with, and incidental to, the lease or rental of a motor vehicle.
**(b) Preeminence of State insurance law** No provision of this section shall be construed as altering the validity, interpretation, construction, or effect of—
(1) any State statute;
(2) the prospective application of any court judgment interpreting or applying any State statute; or
(3) the prospective application of any final State regulation, order, bulletin, or other statutorily authorized interpretation or action,
which, by its specific terms, expressly regulates or exempts from regulation any person who solicits the purchase of or sells insurance connected with, and incidental to, the short-term lease or rental of a motor vehicle.
**(c) Scope of application** This section shall apply with respect to—
(1) the lease or rental of a motor vehicle for a total period of 90 consecutive days or less; and
(2) insurance which is provided in connection with, and incidentally to, such lease or rental for a period of consecutive days not exceeding the lease or rental period.
**(d) Motor vehicle defined** For purposes of this section, the term “motor vehicle” has the same meaning as in [section 13102 of title 49](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title49-section13102&num=0&edition=prelim).
Source: Supplied U.S. Code snapshot — release unconfirmed · 15 U.S.C. § 6701
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Establishment of Corporation** There is hereby established a Federal Deposit Insurance Corporation (hereinafter referred to as the “Corporation”) which shall insure, as hereinafter provided, the deposits of all banks and savings associations which are entitled to the benefits of insurance under this chapter, and which shall have the powers hereinafter granted.
**(b) Asset disposition division**
(1) **Establishment** — The Corporation shall have a separate division of asset disposition.
(2) **Management** — The division of asset disposition shall have an administrator who shall be appointed by the Board of Directors.
(3) **Responsibilities of division** — The division of asset disposition shall carry out all of the responsibilities of the Corporation under this chapter relating to the liquidation of insured depository institutions and the disposition of assets of such institutions.
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1811
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Federal law — U.S. Code and appendices · legal_authorities
**(a)**
(1) Except as provided in paragraph (5) of this subsection, “bank holding company” means any company which has control over any bank or over any company that is or becomes a bank holding company by virtue of this chapter.
(2) Any company has control over a bank or over any company if—
(A) the company directly or indirectly or acting through one or more other persons owns, controls, or has power to vote 25 per centum or more of any class of voting securities of the bank or company;
(B) the company controls in any manner the election of a majority of the directors or trustees of the bank or company; or
(C) the Board determines, after notice and opportunity for hearing, that the company directly or indirectly exercises a controlling influence over the management or policies of the bank or company.
(3) For the purposes of any proceeding under paragraph (2)(C) of this subsection, there is a presumption that any company which directly or indirectly owns, controls, or has power to vote less than 5 per centum of any class of voting securities of a given bank or company does not have control over that bank or company.
(4) In any administrative or judicial proceeding under this chapter, other than a proceeding under paragraph (2)(C) of this subsection, a company may not be held to have had control over any given bank or company at any given time unless that company, at the time in question, directly or indirectly owned, controlled, or had power to vote 5 per centum or more of any class of voting securities of the bank or company, or had already been found to have control in a proceeding under paragraph (2)(C).
(5) Notwithstanding any other provision of this subsection—
(A) No bank and no company owning or controlling voting shares of a bank is a bank hold
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1841
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Federal law — U.S. Code and appendices · legal_authorities
Page 2274
TITLE 15—COMMERCE AND TRADE
§ 6714
(b) Nondiscrimination parity exception
(1) In general
Notwithstanding any other provision of law
(including section 6701 of this title), in the
case of any State in which banks organized
under the laws of such State are authorized to
sell title insurance as agent, a national bank
may sell title insurance as agent in such
State, but only in the same manner, to the
same extent, and under the same restrictions
as such State banks are authorized to sell title
insurance as agent in such State.
(2) Coordination with ‘‘wildcard’’ provision
A State law which authorizes State banks to
engage in any activities in such State in
which a national bank may engage shall not
be treated as a statute which authorizes State
banks to sell title insurance as agent, for pur-
poses of paragraph (1).
(c) Grandfathering with consistent regulation
(1) In general
Except as provided in paragraphs (2) and (3)
and notwithstanding subsections (a) and (b), a
national bank, and a subsidiary of a national
bank, may conduct title insurance activities
which such national bank or subsidiary was
actively and lawfully conducting before No-
vember 12, 1999.
(2) Insurance affiliate
In the case of a national bank which has an
affiliate which provides insurance as principal
and is not a subsidiary of the bank, the na-
tional bank and any subsidiary of the national
bank may not engage in the underwriting of
title insurance pursuant to paragraph (1).
(3) Insurance subsidiary
In the case of a national bank which has a
subsidiary which provides insurance as prin-
cipal and has no affiliate other than a sub-
sidiary which provides insurance as principal,
the national bank may not directly engage in
any activity involving the underwriting
Source: Supplied 2024 U.S. Code historical extraction · 15 U.S.C. § 6714
Stored review status: historical_2024_not_currentness_verified. Same stored citation; legal effect and authority still require review.