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issuance or renewal of licenses in multiple States;
and
(3) establish or utilize a national database for
the collection of regulatory information concerning
the activities of insurance producers.
(b) COORDINATION WITH THE NATIONAL ASSOCIA-
TION OF SECURITIES DEALERS.—The Association shall
coordinate with the National Association of Securities
Dealers in order to ease any administrative burdens that
fall on persons that are members of both associations, con-
sistent with the purposes of this subtitle and the Federal
securities laws.
SEC. 335. JUDICIAL REVIEW.
(a) JURISDICTION.—The appropriate United States
district court shall have exclusive jurisdiction over litiga-
tion involving the Association, including disputes between
the Association and its members that arise under this sub-
title. Suits brought in State court involving the Associa-
tion shall be deemed to have arisen under Federal law and
therefore be subject to jurisdiction in the appropriate
United States district court.
(b) EXHAUSTION OF REMEDIES.—An aggrieved per-
son must exhaust all available administrative remedies be-
fore the Association and the NAIC before it may seek judi-
cial review of an Association decision.
289
(c) STANDARDS
OF REVIEW.—The standards set
forth in section 553 of title 5, United States Code, shall
be applied whenever a rule or bylaw of the Association is
under judicial review, and the standards set forth in sec-
tion 554 of title 5, United States Code, shall be applied
whenever a disciplinary action of the Association is judi-
cially reviewed.
SEC. 336. DEFINITIONS.
For purposes of this subtitle, the following definitions
shall apply:
(1) INSURANCE.—The term ‘‘insurance’’ means
any product defined or regulated as insurance by the
appropriate State insurance regulatory authority.
(2) INSURANCE PRODUCER.—The term ‘‘insur-
ance producer’’ means any insurance agent or
broker, surplus lines broker, insurance consultant,
limited insurance representative, and any other per-
son that solicits, negotiates, effects, procures, deliv-
ers, renews, continues or binds policies of insurance
or offers advice, counsel, opinions or services related
to insurance.
(3) STATE
LAW.—The term ‘‘State law’’ in-
cludes all laws, decisions, rules, regulations, or other
State action having the effect of law, of any State.
A law of the United States applicable only to the
290
District of Columbia shall be treated as a State law
rather than a law of the United States.
(4) STATE.—The term ‘‘State’’ includes any
State, the District of Columbia, American Samoa,
Guam, Puerto Rico, and the United States Virgin
Islands.
(5) HOME
STATE.—The term ‘‘home State’’
means the State in which the insurance producer
maintains its principal place of residence and is li-
censed to act as an insurance producer.
TITLE 
IV—UNITARY 
SAVINGS
AND LOAN HOLDING COMPA-
NIES
SEC. 401. TERMINATION OF EXPANDED POWERS FOR NEW
UNITARY S&L HOLDING COMPANIES.
(a) IN GENERAL.—Section 10(c) of the Home Own-
ers’ Loan Act (12 U.S.C. 1467a(c)) is amended by adding
at the end the following new paragraph:
‘‘(9) TERMINATION OF EXPANDED POWERS FOR
NEW UNITARY S&L HOLDING COMPANY.—
‘‘(A) IN
GENERAL.—Subject to subpara-
graph (B), paragraph (3) shall not apply with
respect to any company that becomes a savings
and loan holding company pursuant to an appli-
cation filed after March 31, 1998.
291
‘‘(B) EXISTING
UNITARY
S&L
HOLDING
COMPANIES
AND
THE
SUCCESSORS
TO
SUCH
COMPANIES.—Subparagraph 
(A) 
shall 
not
apply, and paragraph (3) shall continue to
apply, to a company (or any subsidiary of such
company) that—
‘‘(i) either—
‘‘(I) acquired 1 or more savings
associations described in paragraph
(3) pursuant to applications at least 1
of which was filed before April 1,
1998; or
‘‘(II) became a savings and loan
holding company by acquiring owner-
ship or control of the company de-
scribed in subclause (I); and
‘‘(ii) continues to control the savings
associations referred to in clause (i)(I) or
the successor to any such savings associa-
tion.’’.
(b) TECHNICAL AND CONFORMING AMENDMENT.—
Section 10(c)(3) of the Home Owners’ Loan Act (12
U.S.C. 1467a(c)(3)) is amended by striking ‘‘Notwith-
standing’’ and inserting ‘‘Except as provided in paragraph
(9) and notwithstanding’’.
292
SEC. 402. RETENTION OF ‘‘FEDERAL’’ IN NAME OF CON-
VERTED FEDERAL SAVINGS ASSOCIATION.
Section 2 of the Act entitled ‘‘An Act to enable na-
tional banking associations to increase their capital stock
and to change their names or locations.’’ and approved
May 1, 1886 (12 U.S.C. 30) is amended by adding at the
end the following new subsection:
‘‘(d) RETENTION OF ‘FEDERAL’ IN NAME OF CON-
VERTED FEDERAL SAVINGS ASSOCIATION.—
‘‘(1) IN GENERAL.—Notwithstanding subsection
(a) or any other provision of law, any depository in-
stitution the charter of which is converted from that
of a Federal savings association to a national bank
or a State bank after the date of the enactment of
the Financial Services Act of 1998 may retain the
term ‘Federal’ in the name of such institution so
long as such depository institution remains an in-
sured depository institution.
‘‘(2) DEFINITIONS.—For purposes of this sub-
section, the terms ‘depository institution’, ‘insured
depository institution’, ‘national bank’, and ‘State
293
bank’ have the same meanings given to such terms
in section 3 of the Federal Deposit Insurance Act.’’.
Passed the House of Representatives May 13, 1998.
Attest:
Clerk.