Financial Stability Oversight Council Insurance Member Continuity Act

Bill: 115-hr-3110
Sponsor: full_name: Rep. Hultgren, Randy [R-IL-14]
Introduced: 2017-06-29
Policy area: Finance and Financial Sector
Subjects: Banking and financial institutions regulation

Department of the Treasury

Executive agency funding and structure

Financial Stability Oversight Council

Insurance industry and regulation
Latest action: action_date: 2017-09-27
text: Signed by President.

Summaries:
action_date: 2017-06-29
action_desc: Introduced in House
text: <p><b>Financial Stability Oversight Council Insurance Member Continuity Act</b></p> <p>This bill amends the Financial Stability Act of 2010 to modify the term of the independent member with insurance expertise of the Financial Stability Oversight Council to allow the current member to continue to serve in the event of a delay in the naming of a successor by the end of the member's six-year term. In such a case, the independent member may continue to serve until 18 months after the end of the term or until a successor is confirmed, whichever is earlier. </p>

action_date: 2017-09-05
action_desc: Passed House without amendment
text: <p>(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)</p> <p><b>Financial Stability Oversight Council Insurance Member Continuity Act</b></p> <p>(Sec. 2) This bill amends the Financial Stability Act of 2010 to modify the term of the independent member with insurance expertise of the Financial Stability Oversight Council to allow the current member to continue to serve in the event of a delay in the naming of a successor by the end of the member's six-year term. In such a case, the independent member may continue to serve until 18 months after the end of the term or until a successor is confirmed, whichever is earlier. </p>

action_date: 2017-09-19
action_desc: Passed Senate without amendment
text: <p>(This measure has not been amended since it was introduced. The expanded summary of the House passed version is repeated here.) </p><p><b>Financial Stability Oversight Council Insurance Member Continuity Act</b></p> <p>(Sec. 2) This bill amends the Financial Stability Act of 2010 to modify the term of the independent member with insurance expertise of the Financial Stability Oversight Council to allow the current member to continue to serve in the event of a delay in the naming of a successor by the end of the member's six-year term. In such a case, the independent member may continue to serve until 18 months after the end of the term or until a successor is confirmed, whichever is earlier. </p>

action_date: 2017-09-27
action_desc: Public Law
text: <p>(This measure has not been amended since it was introduced. The expanded summary of the House passed version is repeated here.) </p><p><b>Financial Stability Oversight Council Insurance Member Continuity Act</b></p> <p>(Sec. 2) This bill amends the Financial Stability Act of 2010 to modify the term of the independent member with insurance expertise of the Financial Stability Oversight Council to allow the current member to continue to serve in the event of a delay in the naming of a successor by the end of the member's six-year term. In such a case, the independent member may continue to serve until 18 months after the end of the term or until a successor is confirmed, whichever is earlier. </p>

tv_txt: I 115th CONGRESS 1st Session H. R. 3110 IN THE HOUSE OF REPRESENTATIVES June 29, 2017 Mr. Hultgren (for himself, Ms. Maxine Waters of California , Mr. David Scott of Georgia , Ms. Velázquez , Mr. Clay , Mr. Royce of California , Ms. Moore , Mr. Meeks , Mr. Cleaver , Mr. Sherman , Mr. Kildee , Mr. Perlmutter , Mr. Messer , Mrs. Beatty , Mr. Pittenger , Mr. Poliquin , Mr. Ross , Mr. Trott , Mr. Foster , Mr. King of New York , Mr. Pearce , Mr. Zeldin , Mr. Gottheimer , and Mr. Kihuen ) introduced the following bill; which was referred to the Committee on Financial Services A BILL To amend the Financial Stability Act of 2010 to modify the term of the independent member of the Financial Stability Oversight Council.

1. Short title This Act may be cited as the Financial Stability Oversight Council Insurance Member Continuity Act . 2. Financial Stability Oversight Council Section 111(c) of the Financial Stability Act of 2010 ( 12 U.S.C. 5321(c) ) is amended by adding at the end the following: (4) Term of independent member Notwithstanding paragraph (1), if a successor to the independent member of the Council serving under subsection (b)(1)(J) is not appointed and confirmed by the end of the term of service of such member, such member may continue to serve until the earlier of— (A) 18 months after the date on which the term of service ends; or (B) the date on which a successor to such member is appointed and confirmed. .

tv_txt: I 115th CONGRESS 1st Session H. R. 3110 IN THE HOUSE OF REPRESENTATIVES AN ACT To amend the Financial Stability Act of 2010 to modify the term of the independent member of the Financial Stability Oversight Council.

1. Short title This Act may be cited as the Financial Stability Oversight Council Insurance Member Continuity Act . 2. Financial Stability Oversight Council Section 111(c) of the Financial Stability Act of 2010 ( 12 U.S.C. 5321(c) ) is amended by adding at the end the following: (4) Term of independent member Notwithstanding paragraph (1), if a successor to the independent member of the Council serving under subsection (b)(1)(J) is not appointed and confirmed by the end of the term of service of such member, such member may continue to serve until the earlier of— (A) 18 months after the date on which the term of service ends; or (B) the date on which a successor to such member is appointed and confirmed. .

Passed the House of Representatives September 5, 2017. Karen L. Haas, Clerk.

tv_txt: I One Hundred Fifteenth Congress of the United States of America At the First Session Begun and held at the City of Washington on Tuesday, the third day of January, two thousand and seventeen H. R. 3110 AN ACT To amend the Financial Stability Act of 2010 to modify the term of the independent member of the Financial Stability Oversight Council.

1. Short title This Act may be cited as the Financial Stability Oversight Council Insurance Member Continuity Act . 2. Financial Stability Oversight Council Section 111(c) of the Financial Stability Act of 2010 ( 12 U.S.C. 5321(c) ) is amended by adding at the end the following: (4) Term of independent member Notwithstanding paragraph (1), if a successor to the independent member of the Council serving under subsection (b)(1)(J) is not appointed and confirmed by the end of the term of service of such member, such member may continue to serve until the earlier of— (A) 18 months after the date on which the term of service ends; or (B) the date on which a successor to such member is appointed and confirmed. .

Speaker of the House of Representatives. Vice President of the United States and President of the Senate.

tv_txt: II 115th CONGRESS 1st Session H. R. 3110 IN THE SENATE OF THE UNITED STATES September 6, 2017 Received AN ACT To amend the Financial Stability Act of 2010 to modify the term of the independent member of the Financial Stability Oversight Council.

1. Short title This Act may be cited as the Financial Stability Oversight Council Insurance Member Continuity Act . 2. Financial Stability Oversight Council Section 111(c) of the Financial Stability Act of 2010 ( 12 U.S.C. 5321(c) ) is amended by adding at the end the following: (4) Term of independent member Notwithstanding paragraph (1), if a successor to the independent member of the Council serving under subsection (b)(1)(J) is not appointed and confirmed by the end of the term of service of such member, such member may continue to serve until the earlier of— (A) 18 months after the date on which the term of service ends; or (B) the date on which a successor to such member is appointed and confirmed. .

Passed the House of Representatives September 5, 2017. Karen L. Haas, Clerk

tv_txt: IB Union Calendar No. 211 115th CONGRESS 1st Session H. R. 3110 [Report No. 115–293] IN THE HOUSE OF REPRESENTATIVES June 29, 2017 Mr. Hultgren (for himself, Ms. Maxine Waters of California , Mr. David Scott of Georgia , Ms. Velázquez , Mr. Clay , Mr. Royce of California , Ms. Moore , Mr. Meeks , Mr. Cleaver , Mr. Sherman , Mr. Kildee , Mr. Perlmutter , Mr. Messer , Mrs. Beatty , Mr. Pittenger , Mr. Poliquin , Mr. Ross , Mr. Trott , Mr. Foster , Mr. King of New York , Mr. Pearce , Mr. Zeldin , Mr. Gottheimer , and Mr. Kihuen ) introduced the following bill; which was referred to the Committee on Financial Services September 5, 2017 Additional sponsors: Ms. Tenney , Mr. Ellison , Mr. Delaney , Mrs. Carolyn B. Maloney of New York , Ms. Sinema , and Mr. Curbelo of Florida September 5, 2017 Committed to the Committee of the Whole House on the State of the Union and ordered to be printed A BILL To amend the Financial Stability Act of 2010 to modify the term of the independent member of the Financial Stability Oversight Council.

1. Short title This Act may be cited as the Financial Stability Oversight Council Insurance Member Continuity Act . 2. Financial Stability Oversight Council Section 111(c) of the Financial Stability Act of 2010 ( 12 U.S.C. 5321(c) ) is amended by adding at the end the following: (4) Term of independent member Notwithstanding paragraph (1), if a successor to the independent member of the Council serving under subsection (b)(1)(J) is not appointed and confirmed by the end of the term of service of such member, such member may continue to serve until the earlier of— (A) 18 months after the date on which the term of service ends; or (B) the date on which a successor to such member is appointed and confirmed. .

September 5, 2017 Committed to the Committee of the Whole House on the State of the Union and ordered to be printed