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15 U.S.C. § 6757 — Powers
Federal law — U.S. Code and appendices · legal_authorities
In addition to all the powers conferred upon a nonprofit corporation by the District of Columbia Nonprofit Corporation Act, the Association shall have the power to—
(1) establish and collect such membership fees as the Association finds necessary to impose to cover the costs of its operations;
(2) adopt, amend, and repeal bylaws, procedures, 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 [section 6755(a) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section6755/a&num=0&edition=prelim);
(4) enter into and perform such agreements as necessary to carry out the duties of the Association;
(5) hire employees, professionals, or specialists, and elect or appoint officers, and to fix their compensation, define their duties and give them appropriate authority to carry out the purposes of this subchapter, and determine their qualification;
(6) establish personnel policies of the Association and programs relating to, among other things, conflicts of interest, rates of compensation, where applicable, and qualifications of personnel;
(7) borrow money; and
(8) secure funding for such amounts as the Association determines to be necessary and appropriate to organize and begin operations of the Association, which shall be treated as loans to be repaid by the Association with interest at market rate.
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Source file: Laws/federal/codes/united-states-code/title-15/section-6757-powers--23438f7d00.md
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Source location: Title 15, Chapter 93, § 6757; chapter-093-insurance.md
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In addition to all the powers conferred upon a nonprofit corporation by the District of Columbia Nonprofit Corporation Act, the Association shall have the power to—
(1) establish and collect such membership fees as the Association finds necessary to impose to cover the costs of its operations;
(2) adopt, amend, and repeal bylaws, procedures, 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 [section 6755(a) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section6755/a&num=0&edition=prelim);
(4) enter into and perform such agreements as necessary to carry out the duties of the Association;
(5) hire employees, professionals, or specialists, and elect or appoint officers, and to fix their compensation, define their duties and give them appropriate authority to carry out the purposes of this subchapter, and determine their qualification;
(6) establish personnel policies of the Association and programs relating to, among other things, conflicts of interest, rates of compensation, where applicable, and qualifications of personnel;
(7) borrow money; and
(8) secure funding for such amounts as the Association determines to be necessary and appropriate to organize and begin operations of the Association, which shall be treated as loans to be repaid by the Association with interest at market rate.
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Federal law — U.S. Code and appendices · legal_authorities
**(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
Source: Supplied U.S. Code snapshot — release unconfirmed · 15 U.S.C. § 6754
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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. § 6757
Stored review status: historical_2024_not_currentness_verified. Same stored citation; legal effect and authority still require review.