HR 1155 · 113th Congress 2013–2015, ended

National Association of Registered Agents and Brokers Reform Act of 2013

Fact sheet

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.

  1. IntroducedMar 14, 2013
  2. Passed HouseSep 10, 2013
  3. Passed SenateNot reached
  4. To the PresidentNot reached
  5. 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 callQuestionResultDate
House 450Passed397–6Sep 10, 2013

Cosponsors 90

Members who signed on, in the order they did. Signatures ran from Mar 14, 2013 to Sep 9, 2013, with 42 there on the day it was introduced.

SeatCosponsorSigned on
R-ILAdam KinzingerOriginalMar 14, 2013
D-TXAl GreenOriginalMar 14, 2013
R-KYAndy BarrOriginalMar 14, 2013
R-MOAnn WagnerOriginalMar 14, 2013
R-MIBill HuizengaOriginalMar 14, 2013
R-FLBill PoseyOriginalMar 14, 2013
R-MOBlaine LuetkemeyerOriginalMar 14, 2013
D-CABrad ShermanOriginalMar 14, 2013
D-IABruce L. BraleyOriginalMar 14, 2013
D-NYCarolyn B. MaloneyOriginalMar 14, 2013
D-NYCarolyn McCarthyOriginalMar 14, 2013
D-IADavid LoebsackOriginalMar 14, 2013
D-GADavid ScottOriginalMar 14, 2013
D-FLDebbie Wasserman SchultzOriginalMar 14, 2013
R-FLDennis A. RossOriginalMar 14, 2013
D-COEd PerlmutterOriginalMar 14, 2013
R-OKFrank D. LucasOriginalMar 14, 2013
D-MIGary C. PetersOriginalMar 14, 2013
R-CAGary G. MillerOriginalMar 14, 2013
D-WIGwen MooreOriginalMar 14, 2013
R-OHJames B. RenacciOriginalMar 14, 2013
D-UTJim MathesonOriginalMar 14, 2013
D-CTJohn B. LarsonOriginalMar 14, 2013
R-TXKenny MarchantOriginalMar 14, 2013
R-NDKevin CramerOriginalMar 14, 2013
D-ORKurt SchraderOriginalMar 14, 2013
R-NJLeonard LanceOriginalMar 14, 2013
R-INMarlin A. StutzmanOriginalMar 14, 2013
D-MAMichael E. CapuanoOriginalMar 14, 2013
R-MNMichele BachmannOriginalMar 14, 2013
R-SCMick MulvaneyOriginalMar 14, 2013
R-NCPatrick T. McHenryOriginalMar 14, 2013
R-ILRandy HultgrenOriginalMar 14, 2013
R-OHRobert E. LattaOriginalMar 14, 2013
R-NCRobert PittengerOriginalMar 14, 2013
R-NJScott GarrettOriginalMar 14, 2013
R-WISean P. DuffyOriginalMar 14, 2013
R-WVShelley Moore CapitoOriginalMar 14, 2013
R-ALSpencer BachusOriginalMar 14, 2013
R-OHSteve StiversOriginalMar 14, 2013
R-ARTim GriffinOriginalMar 14, 2013
R-ARTom CottonOriginalMar 14, 2013
R-VARobert HurtApr 10, 2013
D-NYSean Patrick MaloneyApr 10, 2013
R-PAMichael G. FitzpatrickApr 18, 2013
R-MNErik PaulsenApr 19, 2013
R-FLIleana Ros-LehtinenApr 19, 2013
R-OHPatrick J. TiberiApr 19, 2013
D-WADenny HeckApr 23, 2013
R-INLarry BucshonApr 23, 2013
D-MEMichael H. MichaudApr 23, 2013
R-COMike CoffmanApr 23, 2013
D-CAAdam B. SchiffApr 26, 2013
R-AREric A. "Rick" CrawfordMay 6, 2013
R-TXLamar SmithMay 6, 2013
D-NYSteve IsraelMay 6, 2013
R-ARSteve WomackMay 6, 2013
R-LACharles W. Boustany, Jr.May 7, 2013
R-IATom LathamMay 7, 2013
D-ILBobby L. RushMay 8, 2013
R-NYMichael G. GrimmMay 8, 2013
D-MAJames P. McGovernMay 9, 2013
R-MNJohn KlineMay 9, 2013
R-TXBlake FarentholdMay 14, 2013
D-MNCollin C. PetersonMay 14, 2013
R-WADavid G. ReichertMay 14, 2013
R-OHJim JordanMay 14, 2013
D-DEJohn C. Carney, Jr.May 14, 2013
R-CAJohn CampbellMay 14, 2013
D-CTJoe CourtneyMay 15, 2013
R-NCMark MeadowsMay 16, 2013
R-TXPete SessionsMay 16, 2013
R-NMStevan PearceMay 17, 2013
R-GATom GravesMay 17, 2013
D-VTPeter WelchMay 22, 2013
R-CODoug LambornMay 23, 2013
R-PAScott PerryMay 23, 2013
R-FLSteve Southerland IIMay 23, 2013
D-NMMichelle Lujan GrishamJun 3, 2013
R-TXBill FloresJun 5, 2013
R-FLRon DeSantisJun 6, 2013
D-NYJoseph CrowleyJun 11, 2013
R-TNStephen Lee FincherJun 11, 2013
R-MICandice S. MillerJun 12, 2013
R-FLTrey RadelJun 18, 2013
R-NVMark E. AmodeiJun 28, 2013
R-TNCharles J. "Chuck" FleischmannSep 9, 2013
D-CTElizabeth H. EstySep 9, 2013
R-TNJohn J. Duncan, Jr.Sep 9, 2013
R-TXSteve StockmanSep 9, 2013

Actions 10

Everything that happened, newest first.

  1. Sep 11, 2013Received in the Senate. Read twice. Placed on Senate Legislative Calendar under General Orders. Calendar No. 182.
  2. 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.
  3. Sep 10, 2013Considered as unfinished business. (consideration: CR H5455-5456)
  4. Sep 10, 2013Considered under suspension of the rules. (consideration: CR H5443-5449)
  5. Sep 10, 2013DEBATE - The House proceeded with forty minutes of debate on H.R. 1155.

Related bills 3

Companion bills and other measures the record links to this one.

Subjects

Assigned by the Library of Congress. Policy area: Finance and Financial Sector.

Text 3

Each version as it was printed, newest first.

  1. Sep 11, 2013Placed on Calendar Senate
  2. Sep 10, 2013Engrossed in House
  3. Mar 14, 2013Introduced in House

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