surance producer, in order to sell, solicit, or ne-
gotiate insurance for commercial property and 
casualty risks to an insured with risks located 
in more than one State, if such member is li-
censed 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. 
‘‘(3) PRESERVATION OF STATE DISCIPLINARY 
AUTHORITY.—Nothing in this section may be con-
strued to prohibit a State from investigating and 
taking appropriate disciplinary action, including sus-
pension or revocation of a producer’s authority to do 
business in a State, in accordance with such State’s 
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 such activity occurred before 
or after the producer commenced doing business in 
that State pursuant to Association membership. 
‘‘SEC. 332. COORDINATION WITH OTHER REGULATORS. 
‘‘(a) COORDINATION WITH STATE INSURANCE REGU-
LATORS.—The Association may— 
‘‘(1) establish a central clearinghouse, or utilize 
the NAIC or any other appropriate entity as a cen-
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tral clearinghouse, through which members of the 
Association may pursuant to section 323(e) disclose 
their intent to operate in 1 or more States and pay 
the licensing fees to the appropriate States; and 
‘‘(2) establish a national database for the collec-
tion of regulatory information concerning the activi-
ties of insurance producers or contract with the 
NAIC or any other entity to utilize such a database. 
‘‘(b) COORDINATION WITH THE FINANCIAL INDUS-
TRY REGULATORY AUTHORITY.—The Association shall 
coordinate with the Financial Industry Regulatory Au-
thority in order to ease any administrative burdens that 
fall on persons that are members of both associations, con-
sistent with the requirements of this subtitle and the Fed-
eral securities laws. 
‘‘SEC. 333. RIGHT OF ACTION. 
‘‘(a) RIGHT OF ACTION.—Any person aggrieved by 
a decision or action of the Association may, after reason-
ably exhausting available avenues for resolution within the 
Association, commence a civil action in an appropriate 
United States district court, and obtain all appropriate re-
lief. 
‘‘(b) ASSOCIATION INTERPRETATIONS.—In any such 
action, the court shall give appropriate weight to the Asso-
ciation’s interpretation of its bylaws and this subtitle. 
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‘‘SEC. 334. DEFINITIONS. 
‘‘For purposes of this subtitle, the following defini-
tions shall apply: 
‘‘(1) BUSINESS
ENTITY.—The term ‘business 
entity’ means a corporation, association, partnership, 
limited liability company, limited liability partner-
ship, or other legal entity. 
‘‘(2) HOME
STATE.—The term ‘home State’ 
means the State in which the insurance producer 
maintains its principal place of residence or business 
and is licensed to act as an insurance producer. 
‘‘(3) INSURANCE.—The term ‘insurance’ means 
any product, other than title insurance or bail 
bonds, defined or regulated as insurance by the ap-
propriate State insurance regulatory authority. 
‘‘(4) INSURANCE PRODUCER.—The term ‘insur-
ance producer’ means any insurance agent or 
broker, excess or surplus lines broker or agent, in-
surance consultant, limited insurance representative, 
and any other individual or entity that sells, solicits, 
or negotiates policies of insurance or offers advice, 
counsel, opinions or services related to insurance. 
‘‘(5) PRINCIPAL
PLACE
OF
BUSINESS.—The 
term ‘principal place of business’ means the State in 
which an insurance producer maintains the head-
quarters of the producer and, in the case of a busi-
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ness entity, where the entity’s high-level officers di-
rect, control, and coordinate the business activities 
of the entity. 
‘‘(6) PRINCIPAL PLACE OF RESIDENCE.—The 
term ‘principal place of residence’ means the State 
in which an insurance producer resides for the great-
est number of days during a calendar year. 
‘‘(7) STATE.—The term ‘State’ includes any 
State, the District of Columbia, any territory of the 
United States, and Puerto Rico, Guam, American 
Samoa, the Trust Territory of the Pacific Islands, 
the Virgin Islands, and the Northern Mariana Is-
lands. 
‘‘(8) STATE LAW.— 
‘‘(A) IN GENERAL.—The term ‘State law’ 
includes all laws, decisions, rules, regulations, 
or other State action having the effect of law, 
of any State. 
‘‘(B) LAWS APPLICABLE IN THE DISTRICT 
OF COLUMBIA.—A law of the United States ap-
plicable only to or within the District of Colum-
bia shall be treated as a State law rather than 
a law of the United States.’’. 
(b) CLERICAL AMENDMENT.—The table of contents 
for the Gramm-Leach-Bliley Act is amended by striking 
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the items relating to subtitle C of title III and inserting 
the following new items: 
‘‘Subtitle C—National Association of Registered Agents and Brokers 
‘‘Sec. 321. National Association of Registered Agents and Brokers. 
‘‘Sec. 322. Purpose. 
‘‘Sec. 323. Membership. 
‘‘Sec. 324. Board of directors. 
‘‘Sec. 325. Officers. 
‘‘Sec. 326. Bylaws, rules, and disciplinary action. 
‘‘Sec. 327. Powers. 
‘‘Sec. 328. Report by Association. 
‘‘Sec. 329. Liability of the Association and the directors, officers, and employ-
ees of the Association. 
‘‘Sec. 330. Presidential oversight. 
‘‘Sec. 331. Relationship to State law. 
‘‘Sec. 332. Coordination with other regulators. 
‘‘Sec. 333. Right of action. 
‘‘Sec. 334. Definitions.’’. 
Æ 
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