National Association of Registered Agents and Brokers Reform Act of 2008
Latest action · Oct 2, 2008 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedMar 13, 2008
- Passed HouseSep 17, 2008
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
National Association of Registered Agents and Brokers Reform Act of 2008 - Amends the Gramm-Leach-Bliley Act to reestablish the National Association of Registered Agents and Brokers as a nonprofit corporation whose purpose is to provide a mechanism through which licensing, continuing education, and other insurance producer qualification requirements and conditions can be adopted and applied on a multi-state basis, while preserving the right of states to: (1) license, supervise, and discipline insurance producers; and (2) prescribe and enforce laws and regulations regarding insurance-related consumer protection and unfair trade practices.
Sets forth membership requirements, including a mandatory criminal background check applicable to state-licensed insurance producers. Sets limits upon permissible uses of such criminal background information, and imposes a criminal penalty for improper use.
Requires the Association, in establishing membership criteria, to consider the National Association of Insurance Commissioners (NAIC) Producer Licensing Model Act and the highest levels of insurance producer qualifications established under state licensing laws.
Authorizes the Association to deny membership to a state-licensed insurance producer on the basis of the criminal history information obtained.
Establishes classes and categories of membership. Declares that membership authorizes an insurance producer to sell, solicit, negotiate, effect, procure, deliver, renew, continue, or bind insurance in any state for any line or lines of insurance specified in such producer's home state license, and exercise all such incidental powers, including claims adjustments and settlement, risk management, employee benefits advice, retirement planning, and any other insurance-related consulting activities.
Authorizes the Association to deny membership to any state-licensed insurance producer for failure to meet membership criteria established by the Association.
Preserves state consumer protection and market conduct regulation powers. Grants the Association membership probation, suspension and revocation powers.
Requires the Association to establish an office of consumer complaints, including a toll-free telephone number.
Creates a Board of Directors to govern and supervise the Association and its members.
Preempts specified state actions.
Permits judicial review over litigation involving the Association.
Cosponsors 52
Members who signed on, in the order they did. Signatures ran from Mar 13, 2008 to Sep 16, 2008, with 14 there on the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-OH | Charles A. Wilson | Original | Mar 13, 2008 |
| R-IL | Donald A. Manzullo | Original | Mar 13, 2008 |
| R-KY | Geoff Davis | Original | Mar 13, 2008 |
| R-FL | Ginny Brown-Waite | Original | Mar 13, 2008 |
| D-NY | Gregory W. Meeks | Original | Mar 13, 2008 |
| D-WI | Gwen Moore | Original | Mar 13, 2008 |
| R-SC | J. Gresham Barrett | Original | Mar 13, 2008 |
| R-PA | Jim Gerlach | Original | Mar 13, 2008 |
| D-IN | Joe Donnelly | Original | Mar 13, 2008 |
| D-TN | Lincoln Davis | Original | Mar 13, 2008 |
| D-AR | Mike Ross | Original | Mar 13, 2008 |
| R-TX | Randy Neugebauer | Original | Mar 13, 2008 |
| R-NC | Walter B. Jones | Original | Mar 13, 2008 |
| D-MO | Wm. Lacy Clay | Original | Mar 13, 2008 |
| D-NY | Nydia M. Velázquez | Mar 14, 2008 |
Actions 13
Everything that happened, newest first.
- Oct 2, 2008Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- Sep 22, 2008Received in the Senate.
- Sep 17, 2008Considered under suspension of the rules. (consideration: CR H8363-8368)
- Sep 17, 2008DEBATE - The House proceeded with forty minutes of debate on H.R. 5611.
- Sep 17, 2008Motion to reconsider laid on the table Agreed to without objection.
Subjects
Assigned by the Library of Congress. Policy area: Finance and Financial Sector.
- Commerce
- Consumer complaints
- Consumer protection
- Crime and Law Enforcement
- Criminal justice information
- Education
- Federal-state relations
- Finance and Financial Sector
- Fines (Penalties)
- Government Operations and Politics
- Government paperwork
- Higher education
- Identification of criminals
- Insurance
- Insurance agents
- Judicial review
- Labor and Employment
- Law
- Licenses
- Nonprofit organizations
- Restrictive trade practices
- Science, Technology, Communications
- Social Welfare
- State laws
- Telephone
- Trade associations
Text 2
Each version as it was printed, newest first.
- Sep 17, 2008Engrossed in House
- Mar 13, 2008Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.