dreamproit/uscode huggingface dataset:
15 U.S.C. § 6757 (COMMERCE AND TRADE)
§ 6757. Report by the Association
(a) In general
As soon as practicable after the close of each fiscal year, the Association shall submit to the President, through the Department of the Treasury, and the States (including State insurance regulators), and shall publish on the website of the Association, a written report regarding the conduct of its business, and the exercise of the other rights and powers granted by this subchapter, during such fiscal year.
(b) Financial statements
Each report submitted under subsection (a) with respect to any fiscal year shall include audited 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.
(Pub. L. 106–102, title III, § 327, as added Pub. L. 114–1, title II, § 202(a), Jan. 12, 2015, 129 Stat. 24.)
heading: Editorial Notes
heading: Prior Provisions
text: Provisions similar to this section were contained in section 6762(c) of this title, prior to the general amendment of this subchapter by Pub. L. 114–1.
A prior section 6757, Pub. L. 106–102, title III, § 327, Nov. 12, 1999, 113 Stat. 1427, related to officers of the Association, prior to the general amendment of this subchapter by Pub. L. 114–1.
15 U.S.C. § 6758 (COMMERCE AND TRADE)
§ 6758. Liability of the Association and the Board members, officers, and employees of the Association
(a) In general
The Association shall not be deemed to be an insurer or insurance producer within the meaning of any State law, rule, regulation, or order regulating or taxing insurers, insurance producers, or other entities engaged in the business of insurance, including provisions imposing premium taxes, regulating insurer solvency or financial condition, establishing guaranty funds and levying assessments, or requiring claims settlement practices.
(b) Liability of Board members, officers, and employees
No Board member, officer, or employee of the Association shall be personally liable to any person for any action taken or omitted in good faith in any matter within the scope of their responsibilities in connection with the Association.
(Pub. L. 106–102, title III, § 328, as added Pub. L. 114–1, title II, § 202(a), Jan. 12, 2015, 129 Stat. 25.)
heading: Editorial Notes
heading: Prior Provisions
text: Provisions similar to this section were contained in section 6761 of this title, prior to the general amendment of this subchapter by Pub. L. 114–1.
A prior section 6758, Pub. L. 106–102, title III, § 328, Nov. 12, 1999, 113 Stat. 1427, related to bylaws, rules, and disciplinary action, prior to the general amendment of this subchapter by Pub. L. 114–1. See section 6755 of this title.
15 U.S.C. § 6759 (COMMERCE AND TRADE)
§ 6759. Presidential oversight
(a) Removal of Board
If the President determines that the Association is acting in a manner contrary to the interests of the public or the purposes of this subchapter or has failed to perform its duties under this subchapter, the President may remove the entire existing Board for the remainder of the term to which the Board members were appointed and appoint, in accordance with section 6754 of this title and with the advice and consent of the Senate, in accordance with the procedures established under Senate Resolution 116 of the 112th Congress, new Board members to fill the vacancies on the Board for the remainder of the terms.
(b) Removal of Board member
The President may remove a Board member only for neglect of duty or malfeasance in office.
(c) Suspension of bylaws and standards and prohibition of actions
Following notice to the Board, the President, or a person designated by the President for such purpose, may suspend the effectiveness of any bylaw or standard, or prohibit any action, of the Association that the President or the designee determines is contrary to the purposes of this subchapter.
(Pub. L. 106–102, title III, § 329, as added Pub. L. 114–1, title II, § 202(a), Jan. 12, 2015, 129 Stat. 25.)
heading: Editorial Notes
heading: References in Text
text: Senate Resolution 116 of the 112th Congress, referred to in subsec. (a), which was agreed to June 29, 2011, provided for expedited Senate consideration of certain nominations subject to advice and consent.
heading: Prior Provisions
text: Provisions similar to this section were contained in section 6762(b)(2)(C) of this title, prior to the general amendment of this subchapter by Pub. L. 114–1.
A prior section 6759, Pub. L. 106–102, title III, § 329, Nov. 12, 1999, 113 Stat. 1430, related to assessments, prior to the general amendment of this subchapter by Pub. L. 114–1. See section 6756(1) of this title.
15 U.S.C. § 6761 (COMMERCE AND TRADE)
§ 6761. Coordination with Financial Industry Regulatory Authority
The Association shall coordinate with the Financial Industry Regulatory Authority in order to ease any administrative burdens that fall on members of the Association that are subject to regulation by the Financial Industry Regulatory Authority, consistent with the requirements of this subchapter and the Federal securities laws.
(Pub. L. 106–102, title III, § 331, as added Pub. L. 114–1, title II, § 202(a), Jan. 12, 2015, 129 Stat. 26.)
heading: Editorial Notes
heading: Prior Provisions
text: Provisions similar to this section were contained in section 6764(b) of this title, prior to the general amendment of this subchapter by Pub. L. 114–1.
A prior section 6761, Pub. L. 106–102, title III, § 331, Nov. 12, 1999, 113 Stat. 1430, related to liability of the Association and the directors, officers, and employees of the Association, prior to the general amendment of this subchapter by Pub. L. 114–1. See section 6758 of this title.
15 U.S.C. § 6762 (COMMERCE AND TRADE)
§ 6762. Right of action
(a) Right of action
Any person aggrieved by a decision or action of the Association may, after reasonably exhausting available avenues for resolution within the Association, commence a civil action in an appropriate United States district court, and obtain all appropriate relief.
(b) Association interpretations
In any action under subsection (a), the court shall give appropriate weight to the interpretation of the Association of its bylaws and standards and this subchapter.
(Pub. L. 106–102, title III, § 332, as added Pub. L. 114–1, title II, § 202(a), Jan. 12, 2015, 129 Stat. 26.)
heading: Editorial Notes
heading: Prior Provisions
text: Provisions similar to this section were contained in section 6765 of this title, prior to the general amendment of this subchapter by Pub. L. 114–1.
A prior section 6762, Pub. L. 106–102, title III, § 332, Nov. 12, 1999, 113 Stat. 1431, related to elimination of NAIC oversight, prior to the general amendment of this subchapter by Pub. L. 114–1. See sections 6757 and 6759 of this title.
15 U.S.C. § 6763 (COMMERCE AND TRADE)
§ 6763. Federal funding prohibited
The Association may not receive, accept, or borrow any amounts from the Federal Government to pay for, or reimburse,1 the Association for, the costs of establishing or operating the Association.
(Pub. L. 106–102, title III, § 333, as added Pub. L. 114–1, title II, § 202(a), Jan. 12, 2015, 129 Stat. 27.)
heading: Editorial Notes
heading: Prior Provisions
text: A prior section 6763, Pub. L. 106–102, title III, § 333, Nov. 12, 1999, 113 Stat. 1432, related to relationship to State law, prior to the general amendment of this subchapter by Pub. L. 114–1. See section 6760 of this title.
15 U.S.C. § 6801 (COMMERCE AND TRADE)
§ 6801. Protection of nonpublic personal information
(a) Privacy obligation policy
It is the policy of the Congress that each financial institution has an affirmative and continuing obligation to respect the privacy of its customers and to protect the security and confidentiality of those customers’ nonpublic personal information.
(b) Financial institutions safeguards
In furtherance of the policy in subsection (a), each agency or authority described in section 6805(a) of this title, other than the Bureau of Consumer Financial Protection, shall establish appropriate standards for the financial institutions subject to their jurisdiction relating to administrative, technical, and physical safeguards—
(1) to insure the security and confidentiality of customer records and information;
(2) to protect against any anticipated threats or hazards to the security or integrity of such records; and
(3) to protect against unauthorized access to or use of such records or information which could result in substantial harm or inconvenience to any customer.
(Pub. L. 106–102, title V, § 501, Nov. 12, 1999, 113 Stat. 1436; Pub. L. 111–203, title X, § 1093(1), July 21, 2010, 124 Stat. 2095.)
heading: Editorial Notes
heading: Amendments
text: 2010—Subsec. (b). Pub. L. 111–203 inserted “, other than the Bureau of Consumer Financial Protection,” after “section 6805(a) of this title” in introductory provisions.
heading: Statutory Notes and Related Subsidiaries
heading: Effective Date of 2010 Amendment
text: Amendment by Pub. L. 111–203 effective on the designated transfer date, see section 1100H of Pub. L. 111–203, set out as a note under section 552a of Title 5, Government Organization and Employees.
heading: Effective Date
text: Pub. L. 106–102, title V, § 510, Nov. 12, 1999, 113 Stat. 1445, provided that:
“This subtitle [subtitle A (§§ 501–510) of title V of Pub. L. 106–102, enacting this subchapter and amending section 1681s of this title] shall take effect 6 months after the date on which rules are required to be prescribed under section 504(a)(3) [15 U.S.C. 6804(a)(3)], except—
“(1) to the extent that a later date is specified in the rules prescribed under section 504; and
“(2) that sections 504 [15 U.S.C. 6804] and 506 [enacting section 6806 of this title and amending section 1681s of this title] shall be effective upon enactment [Nov. 12, 1999].”
15 U.S.C. § 6806 (COMMERCE AND TRADE)
§ 6806. Relation to other provisions
Except for the amendments made by subsections (a) and (b), nothing in this chapter shall be construed to modify, limit, or supersede the operation of the Fair Credit Reporting Act [15 U.S.C. 1681 et seq.], and no inference shall be drawn on the basis of the provisions of this chapter regarding whether information is transaction or experience information under section 603 of such Act [15 U.S.C. 1681a].
(Pub. L. 106–102, title V, § 506(c), Nov. 12, 1999, 113 Stat. 1442.)
heading: Editorial Notes
heading: References in Text
text: Amendments made by subsections (a) and (b), referred to in text, means amendments made by section 506(a) and (b) of Pub. L. 106–102, which amended section 1681s of this title.
This chapter, referred to in text, was in the original “this title”, meaning title V of Pub. L. 106–102, Nov. 12, 1999, 113 Stat. 1436, as amended, which enacted this chapter and amended section 1681s of this title. For complete classification of title V to the Code, see Tables.
The Fair Credit Reporting Act, referred to in text, is title VI of Pub. L. 90–321, as added by Pub. L. 91–508, title VI, § 601, Oct. 26, 1970, 84 Stat. 1127, as amended, which is classified generally to subchapter III (§ 1681 et seq.) of chapter 41 of this title. For complete classification of this Act to the Code, see Short Title note set out under section 1601 of this title and Tables.
15 U.S.C. § 6807 (COMMERCE AND TRADE)
§ 6807. Relation to State laws
(a) In general
This subchapter and the amendments made by this subchapter shall not be construed as superseding, altering, or affecting any statute, regulation, order, or interpretation in effect in any State, except to the extent that such statute, regulation, order, or interpretation is inconsistent with the provisions of this subchapter, and then only to the extent of the inconsistency.
(b) Greater protection under State law
For purposes of this section, a State statute, regulation, order, or interpretation is not inconsistent with the provisions of this subchapter if the protection such statute, regulation, order, or interpretation affords any person is greater than the protection provided under this subchapter and the amendments made by this subchapter, as determined by the Bureau of Consumer Financial Protection, after consultation with the agency or authority with jurisdiction under section 6805(a) of this title of either the person that initiated the complaint or that is the subject of the complaint, on its own motion or upon the petition of any interested party.
(Pub. L. 106–102, title V, § 507, Nov. 12, 1999, 113 Stat. 1442; Pub. L. 111–203, title X, § 1093(6), July 21, 2010, 124 Stat. 2097.)
heading: Editorial Notes
heading: References in Text
text: This subchapter, referred to in text, was in the original “this subtitle”, meaning subtitle A (§§ 501–510) of title V of Pub. L. 106–102, Nov. 12, 1999, 113 Stat. 1436, which is classified principally to this subchapter. For complete classification of subtitle A to the Code, see Tables.
heading: Amendments
text: 2010—Subsec. (b). Pub. L. 111–203 substituted “Bureau of Consumer Financial Protection” for “Federal Trade Commission”.
heading: Statutory Notes and Related Subsidiaries
heading: Effective Date of 2010 Amendment
text: Amendment by Pub. L. 111–203 effective on the designated transfer date, see section 1100H of Pub. L. 111–203, set out as a note under section 552a of Title 5, Government Organization and Employees.
15 U.S.C. § 6908 (COMMERCE AND TRADE)
§ 6908. Recordkeeping
The requirements of section 4714 of title 12 shall apply to a qualified organization receiving assistance from the Administration under this chapter as if it were a community development financial institution receiving assistance from the Fund under subtitle A.
(Pub. L. 103–325, title I, § 179, as added Pub. L. 106–102, title VII, § 725, Nov. 12, 1999, 113 Stat. 1474.)
heading: Editorial Notes
heading: References in Text
text: Subtitle A, referred to in text, is subtitle A (§§ 101–121) of title I of Pub. L. 103–325, Sept. 23, 1994, 108 Stat. 2163, known as the Community Development Banking and Financial Institutions Act of 1994, which is classified principally to subchapter I (§ 4701 et seq.) of chapter 47 of Title 12, Banks and Banking. For complete classification of subtitle A to the Code, see Short Title note set out under section 4701 of Title 12 and Tables.
15 U.S.C. § 6909 (COMMERCE AND TRADE)
§ 6909. Authorization
In addition to funds otherwise authorized to be appropriated to the Fund to carry out this title,1 there are authorized to be appropriated to the Administrator to carry out this chapter—
(1) $15,000,000 for fiscal year 2000;
(2) $15,000,000 for fiscal year 2001;
(3) $15,000,000 for fiscal year 2002; and
(4) $15,000,000 for fiscal year 2003.
(Pub. L. 103–325, title I, § 180, as added Pub. L. 106–102, title VII, § 725, Nov. 12, 1999, 113 Stat. 1474.)
heading: Editorial Notes
heading: References in Text
text: This title, referred to in text, is title I of Pub. L. 103–325, Sept. 23, 1994, 108 Stat. 2163. Subtitle A (§§ 101–121) of title I, known as the Community Development Banking and Financial Institutions Act of 1994, is classified principally to subchapter I (§ 4701 et seq.) of chapter 47 of Title 12, Banks and Banking. Subtitle B (§§ 151–158) of title I, known as the Home Ownership and Equity Protection Act of 1994, enacted sections 1639 and 1648 of this title, amended sections 1602, 1604, 1610, 1640, 1641, and 1647 of this title, and enacted provisions set out as notes under sections 1601 and 1602 of this title. Subtitle C (§§ 171–181) of title I, known as the Program for Investment in Microentrepreneurs Act of 1999 or PRIME Act, is classified generally to this chapter. For complete classification of title I of Pub. L. 103–325 to the Code, see Tables.
15 U.S.C. § 7002 (COMMERCE AND TRADE)
§ 7002. Exemption to preemption
(a) In general
A State statute, regulation, or other rule of law may modify, limit, or supersede the provisions of section 7001 of this title with respect to State law only if such statute, regulation, or rule of law—
(1) constitutes an enactment or adoption of the Uniform Electronic Transactions Act as approved and recommended for enactment in all the States by the National Conference of Commissioners on Uniform State Laws in 1999, except that any exception to the scope of such Act enacted by a State under section 3(b)(4) of such Act shall be preempted to the extent such exception is inconsistent with this subchapter or subchapter II, or would not be permitted under paragraph (2)(A)(ii) of this subsection; or
(2)
(A) specifies the alternative procedures or requirements for the use or acceptance (or both) of electronic records or electronic signatures to establish the legal effect, validity, or enforceability of contracts or other records, if—
(i) such alternative procedures or requirements are consistent with this subchapter and subchapter II; and
(ii) such alternative procedures or requirements do not require, or accord greater legal status or effect to, the implementation or application of a specific technology or technical specification for performing the functions of creating, storing, generating, receiving, communicating, or authenticating electronic records or electronic signatures; and
(B) if enacted or adopted after June 30, 2000, makes specific reference to this chapter.
(b) Exceptions for actions by States as market participants
Subsection (a)(2)(A)(ii) shall not apply to the statutes, regulations, or other rules of law governing procurement by any State, or any agency or instrumentality thereof.
(c) Prevention of circumvention
Subsection (a) does not permit a State to circumvent this subchapter or subchapter II through the imposition of nonelectronic delivery methods under section 8(b)(2) of the Uniform Electronic Transactions Act.
(Pub. L. 106–229, title I, § 102, June 30, 2000, 114 Stat. 467.)
heading: Statutory Notes and Related Subsidiaries
heading: Effective Date
text: Section effective Oct. 1, 2000, with exceptions relating to record retention and certain loans, see section 107 of Pub. L. 106–229, set out as a note under section 7001 of this title.
15 U.S.C. § 7003 (COMMERCE AND TRADE)
§ 7003. Specific exceptions
(a) Excepted requirements
The provisions of section 7001 of this title shall not apply to a contract or other record to the extent it is governed by—
(1) a statute, regulation, or other rule of law governing the creation and execution of wills, codicils, or testamentary trusts;
(2) a State statute, regulation, or other rule of law governing adoption, divorce, or other matters of family law; or
(3) the Uniform Commercial Code, as in effect in any State, other than sections 1–107 and 1–206 and Articles 2 and 2A.
(b) Additional exceptions
The provisions of section 7001 of this title shall not apply to—
(1) court orders or notices, or official court documents (including briefs, pleadings, and other writings) required to be executed in connection with court proceedings;
(2) any notice of—
(A) the cancellation or termination of utility services (including water, heat, and power);
(B) default, acceleration, repossession, foreclosure, or eviction, or the right to cure, under a credit agreement secured by, or a rental agreement for, a primary residence of an individual;
(C) the cancellation or termination of health insurance or benefits or life insurance benefits (excluding annuities); or
(D) recall of a product, or material failure of a product, that risks endangering health or safety; or
(3) any document required to accompany any transportation or handling of hazardous materials, pesticides, or other toxic or dangerous materials.
(c) Review of exceptions
(1) Evaluation required
The Secretary of Commerce, acting through the Assistant Secretary for Communications and Information, shall review the operation of the exceptions in subsections (a) and (b) to evaluate, over a period of 3 years, whether such exceptions continue to be necessary for the protection of consumers. Within 3 years after June 30, 2000, the Assistant Secretary shall submit a report to the Congress on the results of such evaluation.
(2) Determinations
If a Federal regulatory agency, with respect to matter within its jurisdiction, determines after notice and an opportunity for public comment, and publishes a finding, that one or more such exceptions are no longer necessary for the protection of consumers and eliminating such exceptions will not increase the material risk of harm to consumers, such agency may extend the application of section 7001 of this title to the exceptions identified in such finding.
(Pub. L. 106–229, title I, § 103, June 30, 2000, 114 Stat. 468.)
heading: Statutory Notes and Related Subsidiaries
heading: Effective Date
text: Section effective Oct. 1, 2000, with exceptions relating to record retention and certain loans, see section 107 of Pub. L. 106–229, set out as a note under section 7001 of this title.
15 U.S.C. § 7005 (COMMERCE AND TRADE)
§ 7005. Studies
(a) Delivery
Within 12 months after June 30, 2000, the Secretary of Commerce shall conduct an inquiry regarding the effectiveness of the delivery of electronic records to consumers using electronic mail as compared with delivery of written records via the United States Postal Service and private express mail services. The Secretary shall submit a report to the Congress regarding the results of such inquiry by the conclusion of such 12-month period.
(b) Study of electronic consent
Within 12 months after June 30, 2000, the Secretary of Commerce and the Federal Trade Commission shall submit a report to the Congress evaluating any benefits provided to consumers by the procedure required by section 7001(c)(1)(C)(ii) of this title; any burdens imposed on electronic commerce by that provision; whether the benefits outweigh the burdens; whether the absence of the procedure required by section 7001(c)(1)(C)(ii) of this title would increase the incidence of fraud directed against consumers; and suggesting any revisions to the provision deemed appropriate by the Secretary and the Commission. In conducting this evaluation, the Secretary and the Commission shall solicit comment from the general public, consumer representatives, and electronic commerce businesses.
(Pub. L. 106–229, title I, § 105, June 30, 2000, 114 Stat. 471.)
heading: Statutory Notes and Related Subsidiaries
heading: Effective Date
text: Section effective Oct. 1, 2000, with exceptions relating to record retention and certain loans, see section 107 of Pub. L. 106–229, set out as a note under section 7001 of this title.