I 
111TH CONGRESS 
1ST SESSION H. R. 2554 
To reform the National Association of Registered Agents and Brokers, and 
for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
MAY 21, 2009 
Mr. SCOTT of Georgia (for himself, Mr. NEUGEBAUER, Mr. AKIN, Mr. MEEKS 
of New York, Mr. WILSON of Ohio, Mr. DAVIS of Kentucky, Mr. KIND, 
Ms. MOORE of Wisconsin, Mrs. MYRICK, Mr. HOLDEN, Mr. JONES, Ms. 
FOXX, Mr. DONNELLY of Indiana, Mr. POMEROY, Ms. ROS-LEHTINEN, 
Ms. GINNY BROWN-WAITE of Florida, Mr. BARRETT of South Carolina, 
Mr. ROSS, Mr. CLAY, Mr. CHILDERS, Ms. KOSMAS, Mr. MILLER of North 
Carolina, Mr. MORAN of Kansas, Mr. MCHENRY, Mr. LEE of New York, 
Mr. MOORE of Kansas, Mr. PUTNAM, Mr. MELANCON, Ms. JENKINS, Mr. 
GERLACH, Mr. KANJORSKI, Mr. CAPUANO, Mr. ADLER of New Jersey, 
Mr. GARRETT of New Jersey, and Mr. BACHUS) introduced the following 
bill; which was referred to the Committee on Financial Services 
A BILL 
To reform the National Association of Registered Agents 
and Brokers, and for other purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘National Association 
of Registered Agents and Brokers Reform Act of 2009’’. 
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SEC. 2. REESTABLISHMENT OF THE NATIONAL ASSOCIA-
TION OF REGISTERED AGENTS AND BRO-
KERS. 
(a) IN GENERAL.—Subtitle C of title III of the 
Gramm-Leach-Bliley Act (15 U.S.C. 6751 et seq.) is 
amended to read as follows: 
‘‘Subtitle C—National Association 
of Registered Agents and Brokers 
‘‘SEC. 
321. 
NATIONAL 
ASSOCIATION 
OF 
REGISTERED 
AGENTS AND BROKERS. 
‘‘(a) ESTABLISHMENT.—There is established the Na-
tional Association of Registered Agents and Brokers 
(hereafter in this subtitle referred to as the ‘Association’). 
‘‘(b) STATUS.—The Association shall— 
‘‘(1) be a nonprofit corporation; 
‘‘(2) have succession until dissolved by an Act 
of Congress; 
‘‘(3) not be an agent or instrumentality of the 
United States Government; and 
‘‘(4) except as otherwise provided in this sub-
title, be subject to, and have all the powers conferred 
upon a nonprofit corporation by the District of Co-
lumbia Nonprofit Corporation Act (D.C. Code, sec. 
29–301.01 et seq.). 
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‘‘SEC. 322. PURPOSE. 
‘‘The purpose of the Association shall be to provide 
a mechanism through which licensing, continuing edu-
cation, and other nonresident insurance producer quali-
fication requirements and conditions can be adopted and 
applied on a multi-state basis (without affecting the laws, 
rules, and regulations pertaining to resident insurance 
producers or appointments or producing a net loss of pro-
ducer licensing revenues to States), while preserving the 
right of States to license, supervise, discipline, and estab-
lish licensing fees for insurance producers, and to pre-
scribe and enforce laws and regulations with regard to in-
surance-related consumer protection and unfair trade 
practices. 
‘‘SEC. 323. MEMBERSHIP. 
‘‘(a) ELIGIBILITY.— 
‘‘(1) IN GENERAL.—Any insurance producer li-
censed in its home State shall be eligible to become 
a member of the Association. 
‘‘(2) INELIGIBILITY FOR SUSPENSION OR REV-
OCATION OF LICENSE.—Notwithstanding paragraph 
(1), a State-licensed insurance producer shall not be 
eligible to become a member if a State insurance 
regulator has suspended or revoked such producer’s 
license in that State during the 3-year period pre-
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ceding the date on which such producer applies for 
membership. 
‘‘(3) RESUMPTION OF ELIGIBILITY.—Paragraph 
(2) shall cease to apply to any insurance producer 
if— 
‘‘(A) the State insurance regulator reissues 
or renews the license of such producer in the 
State in which the license was suspended or re-
voked; or 
‘‘(B) the suspension or revocation is subse-
quently overturned. 
‘‘(4) 
CRIMINAL
BACKGROUND
CHECK
RE-
QUIRED.— 
‘‘(A) IN
GENERAL.—A State-licensed in-
surance producer shall not be eligible to become 
a member unless the producer has submitted to 
a national criminal background record check. 
‘‘(B) CRIMINAL BACKGROUND CHECK OR-
DERED BY HOME STATE.—Any insurance pro-
ducer licensed in a State that, as a condition 
for such licensure, requires the submission of 
identification information to the Federal Bu-
reau of Investigation for a national criminal 
background record check shall be deemed to 
have submitted to a national criminal back-
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ground record check for purposes of subpara-
graph (A). 
‘‘(C) CRIMINAL HISTORY CHECK ORDERED 
BY ASSOCIATION.— 
‘‘(i) IN
GENERAL.—The Association 
may submit identification information ob-
tained from any State-licensed insurance 
producer licensed in a State that has not 
submitted to a national criminal back-
ground record check, and a request for a 
national criminal background record check 
of such producer, to the Federal Bureau of 
Investigation. 
‘‘(ii) BYLAWS OR RULES.—The board 
of directors of the Association shall pre-
scribe bylaws or rules for obtaining and 
utilizing identification information and 
criminal history record information, includ-
ing the establishment of fees required to 
perform a criminal background record 
check. 
‘‘(D) ATTORNEY
GENERAL
AUTHORIZA-
TION.—Upon receiving a request from the Asso-
ciation, the Attorney General shall— 
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