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15 U.S.C. § 6758 — Report by the Association
Federal law — U.S. Code and appendices · legal_authorities
**(a) In general** As soon as practicable after the close of each fiscal year, the Association shall submit to the President, through the Department of the Treasury, and the States (including State insurance regulators), and shall publish on the website of the Association, a written report regarding the conduct of its business, and the exercise of the other rights and powers granted by this subchapter, during such fiscal year.
**(b) Financial statements** Each report submitted under subsection (a) with respect to any fiscal year shall include audited financial statements setting forth the financial position of the Association at the end of such fiscal year and the results of its operations (including the source and application of its funds) for such fiscal year.
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Source file: Laws/federal/codes/united-states-code/title-15/section-6758-report-by-the-association--a6eda412c7.md
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Source location: Title 15, Chapter 93, § 6758; chapter-093-insurance.md
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**(a) In general** As soon as practicable after the close of each fiscal year, the Association shall submit to the President, through the Department of the Treasury, and the States (including State insurance regulators), and shall publish on the website of the Association, a written report regarding the conduct of its business, and the exercise of the other rights and powers granted by this subchapter, during such fiscal year.
**(b) Financial statements** Each report submitted under subsection (a) with respect to any fiscal year shall include audited financial statements setting forth the financial position of the Association at the end of such fiscal year and the results of its operations (including the source and application of its funds) for such fiscal year.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Adoption and amendment of bylaws and standards**
(1) **Procedures** — The Association shall adopt procedures for the adoption of bylaws and standards that are similar to procedures under subchapter II of chapter 5 of title 5 (commonly known as the “Administrative Procedure Act”).
(2) **Copy required to be filed** — The Board shall submit to the President, through the Department of the Treasury, and the States (including State insurance regulators), and shall publish on the website of the Association, all proposed bylaws and standards of the Association, or any proposed amendment to the bylaws or standards of the Association, accompanied by a concise general statement of the basis and purpose of such proposal.
(3) **Effective date** — Any proposed bylaw or standard of the Association, and any proposed amendment to the bylaws or standards of the Association, shall take effect, after notice under paragraph (2) and opportunity for public comment, on such date as the Association may designate, unless suspended under [section 6759(c) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section6759/c&num=0&edition=prelim).
(4) **Rule of construction** — Nothing in this section shall be construed to subject the Board or the Association to the requirements of subchapter II of chapter 5 of title 5 (commonly known as the “Administrative Procedure Act”).
**(b) Disciplinary action by the Association**
(1) **Specification of charges** — In any proceeding to determine whether membership shall be denied, suspended, revoked, or not renewed, or to determine whether a member of the Association should be placed on probation (referred to in this section as a “disciplinary action”) or whether to assess fines or monetary penalties, the Association sh
Source: Supplied U.S. Code snapshot — release unconfirmed · 15 U.S.C. § 6756
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Federal law — U.S. Code and appendices · legal_authorities
The Association shall coordinate with the Financial Industry Regulatory Authority in order to ease any administrative burdens that fall on members of the Association that are subject to regulation by the Financial Industry Regulatory Authority, consistent with the requirements of this subchapter and the Federal securities laws.
Source: Supplied U.S. Code snapshot — release unconfirmed · 15 U.S.C. § 6762
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Federal law — U.S. Code and appendices · legal_authorities
Page 2286
TITLE 15—COMMERCE AND TRADE
§ 6756
(A) any act or practice in which the mem-
ber has been found to have been engaged;
(B) the specific provision of this sub-
chapter or standard of the Association that
any such act or practice is deemed to vio-
late; and
(C) the sanction imposed and the reason
for the sanction.
(3) Ineligibility of private sector representa-
tives
Board members appointed pursuant to sec-
tion 6754(c)(3) of this title may not—
(A) participate in any disciplinary action
or be counted toward establishing a quorum
during a disciplinary action; and
(B) have access to confidential information
concerning any disciplinary action.
(Pub. L. 106–102, title III, § 325, as added Pub. L.
114–1, title II, § 202(a), Jan. 12, 2015, 129 Stat. 23.)
Editorial Notes
PRIOR PROVISIONS
Provisions similar to this section were contained in
section 6758 of this title, prior to the general amend-
ment of this subchapter by Pub. L. 114–1.
A prior section 6755, Pub. L. 106–102, title III, § 325,
Nov. 12, 1999, 113 Stat. 1424, related to membership in
the Association, prior to the general amendment of this
subchapter by Pub. L. 114–1. See section 6753 of this
title.
§ 6756. Powers
In addition to all the powers conferred upon a
nonprofit corporation by the District of Colum-
bia Nonprofit Corporation Act, the Association
shall have the power to—
(1) establish and collect such membership
fees as the Association finds necessary to im-
pose to cover the costs of its operations;
(2) adopt, amend, and repeal bylaws, proce-
dures, or standards governing the conduct of
Association business and performance of its
duties;
(3) establish procedures for providing notice
and opportunity for comment pursuant to sec-
tion 6755(a) of this title;
(4) enter into
Source: Supplied 2024 U.S. Code historical extraction · 15 U.S.C. § 6758
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