National Association of Registered Agents and Brokers Reform Act of 2013
Latest action · Sep 11, 2013 Received in the Senate. Read twice. Placed on Senate Legislative Calendar under General Orders. Calendar No. 182.
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 14, 2013
- Passed HouseSep 10, 2013
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
National Association of Registered Agents and Brokers Reform Act of 2013 - (Sec. 2) Amends the Gramm-Leach-Bliley Act to repeal the contingent conditions under which the National Association of Registered Agents and Brokers (NARAB) shall not be established. Establishes the NARAB without contingent conditions as an independent nonprofit corporation to prescribe, on a multi-state basis, licensing and insurance producer qualification requirements and conditions.
Prohibits the NARAB from merging with or into any other private or public entity.
Requires the NARAB, without affecting state regulatory authority, to provide a mechanism for the adoption and multi-state application of requirements and conditions pertaining to: (1) licensing, continuing education, and other qualifications of non-NARAB insurance producers; (2) resident or nonresident insurance producer appointments; (3) supervision and disciplining of such producers; and (4) the setting of licensing fees for insurance producers.
Makes any state-licensed insurance producer eligible to join the NARAB, except during a period of license suspension or revocation. Requires an individual insurance producer to undergo a criminal history record check by the Federal Bureau of Investigation (FBI). Requires the NARAB to submit to the FBI identification information obtained from the insurance producer, upon producer request, as well as a request of its own for the criminal history record check.
Authorizes the NARAB to: (1) establish membership criteria; and (2) deny membership to an individual state-licensed insurance producer on the basis of the criminal history information obtained, or where the producer has been subject to certain disciplinary action.
Prescribes procedures governing a criminal history record check, including the rights of applicants denied membership.
Authorizes the NARAB to establish membership criteria, including separate classes of membership and membership criteria for business entities; but prohibits it from establishing criteria that unfairly limit the ability of a small insurance producer to become a member of NARAB, including discriminatory membership fees.
Authorizes the NARAB to establish separate categories of membership for insurance producers and for other persons or entities within each class, based on the types of licensing categories that exist under state laws.
Prohibits the NARAB from establishing special categories of membership, including distinct membership criteria for members that are depository institutions or for their employees, agents, or affiliates.
Prohibits the NARAB from adopting any qualification less protective to the public than that contained in the National Association of Insurance Commissioners (NAIC) Producer Licensing Model Act.
Prescribes procedures for authorized information sharing pursuant to a request by a licensed insurance producer.
Authorizes the NARAB to deny membership to any state-licensed insurance producer for failure to meet membership criteria.
States that NARAB membership authorizes an insurance producer to engage in the business of insurance in any state for any lines of insurance specified in the producer's home state license, including claims adjustments and settlement, risk management, and specified insurance-related consulting activities.
Makes NARAB membership equivalent to a nonresident insurance producer license for specified purposes.
Empowers the NARAB to act as agent for any member for the purpose of remitting licensing fees to a state.
Requires the NARAB to disclose to states, including state insurance regulators and the NAIC, on an ongoing basis, a list of the states in which each member is authorized to operate.
Retains state regulatory jurisdiction regarding: (1) consumer protection and market conduct, and (2) state disciplinary authority.
Requires the NARAB to establish, as a condition of membership, continuing education requirements comparable to the continuing education requirements under the licensing laws of a majority of the states.
Prohibits the NARAB from offering continuing education courses for insurance producers.
Grants the NARAB disciplinary enforcement powers.
Requires the NARAB to: (1) receive and investigate consumer complaints, and to maintain a toll-free telephone number; and (2) refer any such complaint to the state insurance regulator. Prescribes information- sharing procedures and limitations with the NAIC or governmental entities.
Authorizes the NARAB to establish: (1) a central clearinghouse, or utilize NAIC as a central clearinghouse through which NARAB members may disclose their intent to operate in one or more states; and (2) a national database for the collection of regulatory information concerning the activities of insurance producers.
Establishes the NARAB board of directors, whose membership shall include state insurance commissioners. Sets forth terms and procedures for appointment of members by the President. Authorizes reappointment to successive terms. Prohibits compensation on account of Board membership.
Declares that the NARAB shall not be deemed to be an insurer or insurance producer within the meaning of any state law, rule, regulation, or order regulating or taxing insurers, insurance producers, or other entities engaged in the business of insurance.
Sets forth procedures for presidential oversight of the NARAB, including removal of the entire existing Board.
Sets forth a limited preemption of state laws purporting to regulate insurance producers.
Directs the NARAB to coordinate with the Financial Industry Regulatory Authority (FINRA) in order to ease administrative burdens that fall on NARAB members subject to regulation by FINRA.
Authorizes any person aggrieved by a NARAB decision or action to commence a civil action in an appropriate federal district court.
Prohibits federal funding of the NARAB.
Recorded votes 1
Newest first. Open one to see how every member voted.
| Roll call | Question | Result | Date |
|---|---|---|---|
| House 450 | On Motion to Suspend the Rules and Pass, as Amended | Passed397–6 | Sep 10, 2013 |
Cosponsors 90
Members who signed on, in the order they did. Signatures ran from Mar 14, 2013 to Sep 9, 2013; 42 are original cosponsors, there from the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| R-IL | Adam Kinzinger | Original | Mar 14, 2013 |
| D-TX | Al Green | Original | Mar 14, 2013 |
| R-KY | Andy Barr | Original | Mar 14, 2013 |
| R-MO | Ann Wagner | Original | Mar 14, 2013 |
| R-MI | Bill Huizenga | Original | Mar 14, 2013 |
| R-FL | Bill Posey | Original | Mar 14, 2013 |
| R-MO | Blaine Luetkemeyer | Original | Mar 14, 2013 |
| D-CA | Brad Sherman | Original | Mar 14, 2013 |
| D-IA | Bruce L. Braley | Original | Mar 14, 2013 |
| D-NY | Carolyn B. Maloney | Original | Mar 14, 2013 |
| D-NY | Carolyn McCarthy | Original | Mar 14, 2013 |
| D-IA | David Loebsack | Original | Mar 14, 2013 |
| D-GA | David Scott | Original | Mar 14, 2013 |
| D-FL | Debbie Wasserman Schultz | Original | Mar 14, 2013 |
| R-FL | Dennis A. Ross | Original | Mar 14, 2013 |
Committees 1
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| House | Financial Services Committee | Referred Mar 14, 2013 |
Actions 9
Everything that happened, newest first.
- Sep 11, 2013Received in the Senate. Read twice. Placed on Senate Legislative Calendar under General Orders. Calendar No. 182.
- Sep 10, 2013Mr. Neugebauer moved to suspend the rules and pass the bill, as amended.
- Sep 10, 2013Considered under suspension of the rules. (consideration: CR H5443-5449)
- Sep 10, 2013DEBATE - The House proceeded with forty minutes of debate on H.R. 1155.
- Sep 10, 2013At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
- Sep 10, 2013Considered as unfinished business. (consideration: CR H5455-5456)
- Sep 10, 2013Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 397 - 6 (Roll no. 450). (text: CR H5443-5447)
- Mar 14, 2013Introduced in House
- Mar 14, 2013Referred to the House Committee on Financial Services.
In the Congressional Record 1
Days the Record’s own index lists this bill, newest first, with the pages and the members it names. Pages starting H are the House, S the Senate, E Extensions of Remarks.
| Where | In the Record | Members | Date |
|---|---|---|---|
| House | Debate and remarks H5443–H5449Text printed H5443–H5447Recorded votes H5455enact | David Scott D-GA, Randy Neugebauer R-TX, Scott Garrett R-NJ, Stephen Lee Fincher R-TN, Trey Radel R-FL | Sep 10, 2013 |
Research
What has been written about this bill: committee reports, cost estimates, the sponsor’s authority statement, printed hearings and the Congressional Research Service’s work.
Constitutional authority
The sponsor’s statement, as printed in the page H1428.
Printed hearings 1
Hearings whose printed record names this bill, newest first: hearings on it, and wider hearings where it came up.
| Number | Hearing | Committee | Held |
|---|---|---|---|
| S. Hrg. 113-21 | STREAMLINING REGULATION, IMPROVING CONSUMER PROTECTION, AND INCREASING COMPETITION IN INSURANCE MARKETS91 pages | Banking, Housing, and Urban Affairs Committee | Mar 19, 2013 |
CRS reports 5
Congressional Research Service work that CRS links to this bill or the law it became, newest first.
Cite it 5
Products on other subjects that cite it, usually among other measures.
| Product | Title | Kind | Published |
|---|---|---|---|
| R44046 | Insurance Regulation: Background, Overview, and Legislation in the 114th Congress Archived | Report | Dec 30, 2016 |
| R43095 | Insurance Agent Licensing: Overview and Background on Federal NARAB Legislation Archived | Report | Jan 20, 2015 |
| R43067 | Insurance Regulation: Issues, Background, and Legislation in the 113th Congress Archived | Report | Jan 2, 2015 |
| R43619 | Terrorism Risk Insurance Legislation in the 113th Congress: Issue Summary and Side-by-Side Analysis Archived | Report | Dec 31, 2014 |
| R42716 | Terrorism Risk Insurance: Issue Analysis and Overview of Current Program Archived | Report | Jul 23, 2014 |
Related bills 3
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| S 534 | National Association of Registered Agents and Brokers Reform Act of 2013 | Related bill | Jul 29, 2013 |
| HR 1064 | National Association of Registered Agents and Brokers Reform Act of 2013 | Identical bill | Mar 12, 2013 |
| S 1926 | A bill to delay the implementation of certain provisions of the Biggert-Waters Flood Insurance Reform Act of 2012 and to reform the National Association of Registered Agents and Brokers, and for other purposes. | Related bill | Jan 31, 2014 |
Titles 3
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- To reform the National Association of Registered Agents and Brokers, and for other purposes.
- Short Titles as Introduced
- National Association of Registered Agents and Brokers Reform Act of 2013
- Short Titles as Passed House
- National Association of Registered Agents and Brokers Reform Act of 2013
Subjects
Assigned by the Library of Congress. Policy area: Finance and Financial Sector.
Text 3
Each version as it was printed, newest first.
- Sep 11, 2013Placed on Calendar Senate
- Sep 10, 2013Engrossed in House
- Mar 14, 2013Introduced 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; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.