15 U.S.C. § 6714 — Expedited and equalized dispute resolu-

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 of title insurance. (d) ‘‘Affiliate’’ and ‘‘subsidiary’’ defined For purposes of this section, the terms ‘‘affil- iate’’ and ‘‘subsidiary’’ have the same meanings as in section 1841 of title 12. (e) Rule of construction No provision of this Act or any other Federal law shall be construed as superseding or affect- ing a State law which was in effect before No- vember 12, 1999, and which prohibits title insur- ance from being offered, provided, or sold in such State, or from being underwritten with re- spect to real property in such State, by any per- son whatsoever. (Pub. L. 106–102, title III, § 303, Nov. 12, 1999, 113 Stat. 1408.) Editorial Notes REFERENCES IN TEXT This Act, referred to in subsec. (e), is Pub. L. 106–102, Nov. 12, 1999, 113 Stat. 1338, known as the Gramm- Leach-Bliley Act. For complete classification of this Act to the Code, see Short Title of 1999 Amendment note set out under section 1811 of Title 12, Banks and Banking, and Tables. § 6714. Expedited and equalized dispute resolu- tion for Federal regulators (a) Filing in Court of Appeals In the case of a regulatory conflict between a State insurance regulator and a Federal regu- lator regarding insurance issues, including whether a State law, rule, regulation, order, or interpretation regarding any insurance sales or solicitation activity is properly treated as pre- empted under Federal law, the Federal or State regulator may seek expedited judicial review of such determination by the United States Court of Appeals for the circuit in which the State is located or in the United States Court of Appeals for the District of Columbia Circuit by filing a petition for review in such court. (b) Expedited review The United States Court of Appeals in which a petition for review is filed in accordance with subsection (a) shall complete all action on such petition, including rendering a judgment, before the end of the 60-day period beginning on the date on which such petition is filed, unless all parties to such proceeding agree to any exten- sion of such period. (c) Supreme Court review Any request for certiorari to the Supreme Court of the United States of any judgment of a United States Court of Appeals with respect to a petition for review under this section shall be filed with the Supreme Court of the United States as soon as practicable after such judg- ment is issued. (d) Statute of limitation No petition may be filed under this section challenging an order, ruling, determination, or other action of a Federal regulator or State in- surance regulator after the later of— (1) the end of the 12-month period beginning on the date on which the first public notice is made of such order, ruling, determination or other action in its final form; or (2) the end of the 6-month period beginning on the date on which such order, ruling, deter- mination, or other action takes effect. (e) Standard of review The court shall decide a petition filed under this section based on its review on the merits of all questions presented under State and Federal law, including the nature of the product or ac- tivity and the history and purpose of its regula- tion under State and Federal law, without un- equal deference. (Pub. L. 106–102, title III, § 304, Nov. 12, 1999, 113 Stat. 1409.) § 6715. Certain State affiliation laws preempted for insurance companies and affiliates Except as provided in section 6701(c)(2) of this title, no State may, by law, regulation, order, interpretation, or otherwise— (1) prevent or significantly interfere with the ability of any insurer, or any affiliate of an insurer (whether such affiliate is organized