HR 5611 110th Congress House Finance and Financial Sector Commerce Consumer complaints Consumer protection Crime and Law Enforcement Criminal justice information Education Federal-state relations 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

National Association of Registered Agents and Brokers Reform Act of 2008

Introduced: March 13, 2008 See on congress.gov

Everywhere this bill has been 13 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Oct 2, 2008

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Sep 22, 2008

Received in the Senate.

Sep 17, 2008

Motion to reconsider laid on the table Agreed to without objection.

Sep 17, 2008

On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H8363-8367)

Sep 17, 2008

Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.(text: CR H8363-8367)

Sep 17, 2008

DEBATE - The House proceeded with forty minutes of debate on H.R. 5611.

Sep 17, 2008

Considered under suspension of the rules. (consideration: CR H8363-8368)

Sep 17, 2008

Mr. Scott (GA) moved to suspend the rules and pass the bill, as amended.

Jul 9, 2008

Forwarded by Subcommittee to Full Committee (Amended) by Voice Vote .

Jul 9, 2008

Subcommittee Consideration and Mark-up Session Held.

Jul 9, 2008

Referred to the Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises.

Mar 13, 2008

Referred to the House Committee on Financial Services.

Mar 13, 2008

Introduced in House

Plain-English summary Congressional Research Service

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.

What's happening now October 2, 2008

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Committees of jurisdiction 3