Title 15 — Commerce and Trade
Chapter 93 — Insurance
§ 6760. Relationship to State law
Statutory text
Preemption of State laws
State laws, regulations, provisions, or other actions purporting to regulate insurance producers shall be preempted to the extent provided in subsection (b).
Prohibited actions
In general
No State shall—
impede the activities of, take any action against, or apply any provision of law or regulation arbitrarily or discriminatorily to, any insurance producer because that insurance producer or any affiliate plans to become, has applied to become, or is a member of the Association;
impose any requirement upon a member of the Association that it pay fees different from those required to be paid to that State were it not a member of the Association; or
impose any continuing education requirements on any nonresident insurance producer that is a member of the Association.
States other than a home State
No State, other than the home State of a member of the Association, shall—
impose any licensing, personal or corporate qualifications, education, training, experience, residency, continuing education, or bonding requirement upon a member of the Association that is different from the criteria for membership in the Association or renewal of such membership;
impose any requirement upon a member of the Association that it be licensed, registered, or otherwise qualified to do business or remain in good standing in the State, including any requirement that the insurance producer register as a foreign company with the secretary of state or equivalent State official;
require that a member of the Association submit to a criminal history record check as a condition of doing business in the State; or
impose any licensing, registration, or appointment requirements upon a member of the Association, or require a member of the Association to be authorized to operate as an insurance producer, in order to sell, solicit, or negotiate insurance for commercial property and casualty risks to an insured with risks located in more than one State, if the member is licensed or otherwise authorized to operate in the State where the insured maintains its principal place of business and the contract of insurance insures risks located in that State.
Preservation of State disciplinary authority
Nothing in this section may be construed to prohibit a State from investigating and taking appropriate disciplinary action, including suspension or revocation of authority of an insurance producer to do business in a State, in accordance with State law and that is not inconsistent with the provisions of this section, against a member of the Association as a result of a complaint or for any alleged activity, regardless of whether the activity occurred before or after the insurance producer commenced doing business in the State pursuant to Association membership.
Legislative history
Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.
Pub. L. 106–102 title III § 330 · 113 Stat. 1338
Enacted · 15 U.S.C. § 6760
(Pub. L. 106–102, title III, § 330, as added Pub. L. 114–1, title II, § 202(a), Jan. 12, 2015, 129 Stat. 25.)
Source evidence
Code source credit
(Pub. L. 106–102, title III, § 330, as added Pub. L. 114–1, title II, § 202(a), Jan. 12, 2015, 129 Stat. 25.)Enacted provision · exact public law section
SEC. 330. FUNCTIONS OF THE NAIC. (a) Administrative Procedure.— Determinations of the NAIC, for purposes of making rules pursuant to section 328, shall be made after appropriate notice and opportunity for a hearing and for submission of views of interested persons. (b) Examinations and Reports.— (1) Examinations.— The NAIC may make such examinations and inspections of the Association and require the Association to furnish to the NAIC such reports and records or copies thereof as the NAIC may consider necessary or appropriate in the public interest or to effectuate the purposes of this subtitle. (2) Report by association.— As soon as practicable after the close of each fiscal year, the Association shall submit to the NAIC a written report regarding the conduct of its business, and the exercise of the other rights and powers granted by this subtitle, during such fiscal year. Such report shall include financial statements setting forth the financial position of the Association at the end of such fiscal year and the results of its operations (including the source and application of its funds) for such fiscal year. The NAIC shall transmit such report to the President and the Congress with such comment thereon as the NAIC determines to be appropriate.
1 of 1 references resolved to an enrolled provision
Editorial Notes
Prior Provisions
Provisions similar to this section were contained in section 6763 of this title, prior to the general amendment of this subchapter by Pub. L. 114–1.
A prior section 6760, Pub. L. 106–102, title III, § 330, , 113 Stat. 1430, related to functions of the NAIC, prior to the general amendment of this subchapter by Pub. L. 114–1.
Credits
(Pub. L. 106–102, title III, § 330, as added Pub. L. 114–1, title II, § 202(a), , 129 Stat. 25.)