15 U.S.C. § 6752 — Purpose

Page 2279 TITLE 15—COMMERCE AND TRADE § 6753 insurer from one State to another State pursu- ant to this subchapter. (12) State insurance regulator The term ‘‘State insurance regulator’’ means the principal insurance regulatory au- thority of a State, the District of Columbia, any territory of the United States, Puerto Rico, Guam, American Samoa, the Trust Ter- ritory of the Pacific Islands, the Virgin Is- lands, and the Northern Mariana Islands. (13) State law The term ‘‘State law’’ means the statutes of any State, the District of Columbia, any terri- tory of the United States, Puerto Rico, Guam, American Samoa, the Trust Territory of the Pacific Islands, the Virgin Islands, and the Northern Mariana Islands and any regulation, order, or requirement prescribed pursuant to any such statute. (14) Transferee domicile The term ‘‘transferee domicile’’ means the State to which a mutual insurer is redomes- ticating pursuant to this subchapter. (15) Transferor domicile The term ‘‘transferor domicile’’ means the State from which a mutual insurer is redomes- ticating pursuant to this subchapter. (Pub. L. 106–102, title III, § 315, Nov. 12, 1999, 113 Stat. 1420.) Executive Documents TERMINATION OF TRUST TERRITORY OF THE PACIFIC ISLANDS For termination of Trust Territory of the Pacific Is- lands, see note set out preceding section 1681 of Title 48, Territories and Insular Possessions. SUBCHAPTER III—NATIONAL ASSOCIATION OF REGISTERED AGENTS AND BROKERS Editorial Notes CODIFICATION Subtitle C of title III of the Gramm-Leach-Bliley Act, comprising this subchapter, was originally enacted by Pub. L. 106–102, title III, Nov. 12, 1999, 113 Stat. 1422. Such subtitle is shown herein, however, as having been added by Pub. L. 114–1, title II, § 202(a), Jan. 12, 2015, 129 Stat. 12, because of the extensive revision of subtitle C by Pub. L. 114–1. § 6751. National Association of Registered Agents and Brokers (a) Establishment There is established the National Association of Registered Agents and Brokers (referred to in this subchapter as the ‘‘Association’’). (b) Status The Association shall— (1) be a nonprofit corporation; (2) not be an agent or instrumentality of the Federal Government; (3) be an independent organization that may not be merged with or into any other private or public entity; and (4) except as otherwise provided in this sub- chapter, be subject to, and have all the powers conferred upon, a nonprofit corporation by the District of Columbia Nonprofit Corporation Act (D.C. Code, sec. 29–301.01 et seq.) or any successor thereto. (Pub. L. 106–102, title III, § 321, as added Pub. L. 114–1, title II, § 202(a), Jan. 12, 2015, 129 Stat. 13.) Editorial Notes REFERENCES IN TEXT The District of Columbia Nonprofit Corporation Act, referred to in subsec. (b)(4), is Pub. L. 87–569, Aug. 6, 1962, 76 Stat. 265, which is not classified to the Code. PRIOR PROVISIONS Provisions similar to this section were contained in section 6752 of this title, prior to the general amend- ment of this subchapter by Pub. L. 114–1. A prior section 6751, Pub. L. 106–102, title III, § 321, Nov. 12, 1999, 113 Stat. 1422, related to State flexibility in multistate licensing reforms, prior to the general amendment of this subchapter by Pub. L. 114–1. § 6752. Purpose The purpose of the Association shall be to pro- vide a mechanism through which licensing, con- tinuing education, and other nonresident insur- ance producer qualification requirements and conditions may be adopted and applied on a multi-state basis without affecting the laws, rules, and regulations, and preserving the rights of a State, pertaining to— (1) licensing, continuing education, and other qualification requirements of insurance producers that are not members of the Asso- ciation; (2) resident or nonresident insurance pro- ducer appointment requirements; (3) supervising and disciplining resident and nonresident insurance producers; (4) establishing licensing fees for resident and nonresident insurance producers so that there is no loss of insurance producer licensing revenue to the State; and (5) prescribing and enforcing laws and regu- lations regulating the conduct of resident and nonresident insurance producers. (Pub. L. 106–102, title III, § 322, as added Pub. L. 114–1, title II, § 202(a), Jan. 12, 2015, 129 Stat. 13.) Editorial Notes PRIOR PROVISIONS Provisions similar to this section were contained in section 6753 of this title, prior to the general amend- ment of this subchapter by Pub. L. 114–1. A prior section 6752, Pub. L. 106–102, title III, § 322, Nov. 12, 1999, 113 Stat. 1424, related to National Associa- tion of Registered Agents and Brokers, prior to the general amendment of this subchapter by Pub. L. 114–1. See section 6751 of this title. § 6753. 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 Associa- tion. (2) Ineligibility for suspension or revocation of license Subject to paragraph (3), an insurance pro- ducer is not eligible to become a member of